Forensic Accounting and Fraud Detection in Nigerian Public Sector: A Case Study of Rivers State

Ladi-Awofeso Eyibrayila Franca, Clifford Ofurum and Egbe Solomon
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Ladi-Awofeso Eyibrayila Franca: University of Port Harcourt, Rivers State, Nigeria.
Clifford Ofurum: University of Port Harcourt, Rivers State, Nigeria.
Egbe Solomon: University of Port Harcourt, Rivers State, Nigeria.

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Abstract: The study which examined the effect of forensic accounting and fraud detection in Nigerian public sector was fueled by rising incidence of fraud now common in the public sector. The study tried to probe if by adopting forensic accounting fraud can be detected. 357 accountants, directors and senior staff of various Ministries, Departments and Agencies (MDAs) participated in this survey and were selected using stratified random sampling method. Data were gotten from the 357 respondents using structured questionnaire and analysed using Spearman rank correlation method. Forensic accounting was studied using forensic accounting competency, forensic accounting techniques and proactive fraud audit, as the two fraud dimensions addressed were payroll and procurement fraud. With the response analysed, it was discovered that all three indicators of forensic accounting are negatively and significantly correlated with payroll and procurement fraud. The take home is fraud can be detected through forensic accounting. This study advises embracing the latest technology-inspired forensic accounting practices and organizing workshops and training for staff to build their competence level.

Date: 2023-09-15
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Published in Asian Journal of Economics, Finance and Management , 2023, 5 (1), pp.275-286

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05132238

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