scholarly journals Forensic accounting and financial crimes in Nigerian public sector

2020 ◽  
Vol 12 (4) ◽  
pp. 118-125
Author(s):  
Samuel O. Dada ◽  
Fatai B. Jimoh
Keyword(s):  
Public Sector ◽  
Forensic Accounting ◽  
Financial Crimes

scholarly journals Forensic Accounting Investigation of Public Sector Corruption in Nigeria: The Gioia Methodology

2021 ◽  
Author(s):  
Naziru Suleiman ◽  
Zaleha Bte Othman
Keyword(s):  
Data Structure ◽  
Public Sector ◽  
Quantitative Research ◽  
Judicial Reform ◽  
Face To Face ◽  
The Public ◽  
Forensic Accounting ◽  
National Values ◽  
Financial Crimes ◽  
The Government

Despite the increased initiatives to combat corruption, the issue of corruption in the public sector in Nigeria persists. Past studies have found that one of the flaws is due to the ineffective investigation method. Given the seriousness of the issue, this study explores how forensic accounting investigation conducted by the authorities could assist the government in its initiatives to combat corruption in Nigeria. This study aimed at developing a model for improving the investigation of public sector corruption in Nigeria using forensic accounting techniques. Forensic accounting is a technique for detecting and investigating fraudulent practices in organizations and preparing evidence for expert witnessing at the court of law. In doing so, the Gioia Methodology was used to explore the understanding of the process of how forensic accounting is used to investigate corruption cases. We conducted a total of 24 face-to-face interviews with experts from the two leading anti-corruption agencies in Nigeria, the Economic and Financial Crimes Commission of Nigeria (EFCC), the Independent Corrupt Practices Commission (ICPC). We conducted in-depth interviews with purposively selected participants to gain an insightful data structure. The data structure led to the emergence of a dynamic model depicting the relationship among themes and the aggregate dimensions. The study revealed four aggregate dimensions, commitment of national values, judicial reform, a preventive mechanism and financial commitment. The study recommends future studies to be conducted using quantitative research to test the model developed.

scholarly journals Combating economic and financial crimes in nigeria: the role of the forensic accountant

2020 ◽  
Vol 10 (4) ◽  
pp. 12-28
Author(s):  
Felix Ogbeiyulu Umanhonlen ◽  
Otakefe J.P ◽  
Killian Osikhenaogiedu
Keyword(s):  
Internal Control ◽  
Expert Witness ◽  
Future Research ◽  
Financial Crime ◽  
Public And Private ◽  
Forensic Accounting ◽  
Financial Crimes ◽  
Routine Basis ◽  
Expert’S Opinion

Economic and financial crime has been a clog in the wheel of progressand a majorproblem be devil economic prosperity and growth modelsof most nations of the world. Due to this government in some quarters have had the reason to set upinstitutions to unravel as well asdispels themenace. Despite this,fewer than much success mayhave been achieved by the respective anti-corruption agencies as a result of not identifying with therole of forensic accounting science in planning, investigating and representing expert witness/testimony on be fore law suit. This paper attempts toappraisethe role of forensic accountant in combating economic and financial crimes in Nigeria. The paper explored relevance components of economic and financial crimes and extensively discussed concepts of crime and criminality, corruption, white collar and cybercrimes. Specifically, the study reviews the historical antidotes of forensic accounting, emphasizes on the role of forensic accounting science in litigation and forensic accountantensuring economic and financial crime immersed. Moreso, the study identifies basis for future research, some potential crimes factors and forensic accounting science expert’s opinion in crime scene as well as reviewed prior studies and gap envisaged. Essentially, the study reviewed theoretical issues using qualitative approach thereby involving a survey of literature to decipher relevant issues. It there fore sought that forensic accounting serves the basis for investigation, expert witness testimonyand opinion of expert in lawsuit so as to unravel crimes, and reach resolution for recovering. However, concludes that there is need to involve and embrace accounting expert science in all facets of crime investigation in order to accelerate detections and ameliorate incidences of failed attempt on crime recovery related to economic and financial crimes. Therefore, propose that public and private sectors should engage, recruit and employservices of and/or stationed forensic accountant to review,strengthen, reappraises records and internal control on routine basis. Also to check incidences of crime perception as well as anti-corruption agencies saddled with the responsibilities of fighting economic and financial crimes to employ and adopt engagement of forensic accountant on regular basis among others for all-inclusiveness works of planning, investigating, detecting,and recovering.

scholarly journals FORENSIC ACCOUNTING: A WAY TO FIGHT, DETER AND DETECT FRAUD

2020 ◽  
Vol 10 (1) ◽  
Author(s):  
Dr Esha Jain ◽  
Jonika Lamba
Keyword(s):  
Information Technology ◽  
Armed Forces ◽  
White Collar ◽  
Cyber Forensics ◽  
Forensic Accounting ◽  
Financial Crimes

Forensic Accounting is one of the emerging fields for accountancy professionals. Forensic Accounting is the function of bookkeeping, auditing and analytical expertise to combat the financial and white-collar crimes. The scope of forensic accounting has expanded due to cases of corporate scams and financial frauds. Forensic Accounting is the dynamic and strategic tool which helps in combating the corruption, financial crimes and frauds through the application of forensic auditing techniques. There is a huge demand for forensic auditors in the field of insurance, banks, police armed forces and government departments. This paper shows the application of information technology and cyber forensics to curb the malfunctioning done by corporate. In this paper role of the forensic auditor has been explained and the various techniques employed by forensic auditors have also been discussed. The latest cases in the field of forensic accounting have also been included in this paper. Forensic auditors can help the economy to grow and protect the interest of various stakeholders.

scholarly journals Forensic Accounting and Fraud Reduction Strategies in Developing Economy

2021 ◽  
pp. 210-215
Author(s):  
Adesola Adebayo AKANDE ◽  
Johnson Kolawole OLOWOOKERE
Keyword(s):  
Confidence Level ◽  
Alternative Hypothesis ◽  
Test Statistic ◽  
External Auditors ◽  
Accounting Principles ◽  
Detection Tool ◽  
Forensic Accounting ◽  
Financial Crimes ◽  
Reduction Strategies ◽  
Level Of Significance

This paper examined forensic accounting capability and useful strategies to minimize the effects of financial crimes and other related frauds in Nigeria economy. Various points at which preventive controls can be established were identified.Data were collected from two hundred and fifty five (255) respondents in the south-west geo-political zone of Nigeria and response on capability and suitability of using forensic accounting principles and measures to prevent undue practice that often arises via financial crimes in the economy were analyzed with Analysis of Variance Method. The results showed that the estimated Z-statistic was 115.3736.The critical table value of the Z-statistic at 5% level of significance (95% confidence level) was obtained as 1.645. Since the estimated test statistic (Z-statistic) value exceeds the critical table value at 95% confidence level, the null hypothesis is rejected in favour of the alternative hypothesis. Thus, the study concludes that forensic Accounting principles is capable of eliminating all types of financial frauds in any economy. It was also empirically found that forensic accounting can be used to locate diverted funds or assets, identify misappropriated assets and identified reversible insider transactions, thus, forensic accounting is useful as effective fraud detection tool, detects suspicious fraudulent transactions and covers risk assessment processes. Based on the above the study recommends the adoption of forensic accounting principles, effective appropriation of financial resources and external auditors employment.

scholarly journals Fraud and Forensic Accounting Education: Prospects and Challenges in Nigeria

2017 ◽  
Vol 12 (7) ◽  
pp. 146
Author(s):  
Wilson E. Herbert ◽  
Francis Onyilo ◽  
Emeka E. Ene ◽  
Ioraver N. Tsegba
Keyword(s):  
Financial Reporting ◽  
Accounting Education ◽  
Market Demand ◽  
Chi Square ◽  
Financial Reports ◽  
Accounting Curriculum ◽  
Forensic Accounting ◽  
Financial Crimes ◽  
Adequate Coverage ◽  
And Training

This study first investigates the availability of fraud and forensic accounting (FFA) education in Nigeria. The paper then analyses the perceptions of academics and practitioners on the demand for, relevance and integration of, FFA in Nigeria. The data obtained through a questionnaire survey was analysed using descriptive statistics, Kruskal-Wallis (K-W) and Chi-Square tests. The results (i) indicate an increasing market demand for fraud examiners and forensic accountants; and (ii) suggest that FFA be given adequate coverage in the accounting curriculum in response to market demand. On the benefits of FFA education and training, there is virtual unanimity that it will: (i) widen the employment horizon and opportunities for graduates; (ii) help to combat fraud, corruption and financial crimes, (iii) strengthen the credibility of financial reporting, and (iv) help to rebuild investors’ confidence and trust in financial reports. The findings also support integration at both the undergraduate and postgraduate levels. The policy implication draws attention to regulatory importance and expediency of integrating FFA education into the accounting curriculum. This calls for regulatory initiative in developing the Benchmark Minimum Academic Standards (BMAS) for FFA programmes at the undergraduate and postgraduate levels.

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