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Evaluation Of The Use Of Forensic Accounting As A Tool For Fraud Detection And Prosecution In Nigeria

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Abstract

This study evaluated the use of Forensic accounting for fraud detection and prosecution in Nigeria. Specifically, the study evaluated whether or not Forensic accounting has a significant effect on fraud detection as well as fraud prosecution in Nigeria. The survey design was used in the study with a sample size of 30 respondents, consisting of the personnel of EFCC cutting across the Admin, Legal and Operations units of the organization's Lagos zonal office. The simple random sampling was utilized in selecting the sample size, while the regression analysis was used in data analysis. The findings indicated that there was significant effect of the use of Forensic accounting on fraud detection, while there was no significant effect of the use of Forensic accounting on fraud prosecution in Nigeria. In line with the findings, we recommend an urgent restructuring of the EFCC to have an autonomous Forensic accounting directorate that will assist in the efficient prosecution of alleged fraud cases, while also ensuring standardization of its recruitment processes to ensure the recruitment of operatives with sound technical knowledge of Forensic accounting

Suggested Citation

  • Bolaji Peter, Adejana & Opeyemi, Ajetunmobi & Olawale, Aina & Olusola Faboyede, Samuel, 2020. "Evaluation Of The Use Of Forensic Accounting As A Tool For Fraud Detection And Prosecution In Nigeria," Journal of Forensic Accounting & Fraud Investigation (JFAFI), Association of Forensic Accounting Researchers (AFAR), vol. 5(2), pages 40-57, July - De.
    • Handle: RePEc:ris:jfaafi:0024
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