Application of Forensic Accounting Services by Corporate Organisations in Deterring Fraudulent Activities in Nigeria

Ifeanyi Madumere (), Ebubechukwu. Jacinta Ogochukwu () and Ajaero, Obioma Obiageli ()
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Ifeanyi Madumere: Department of Accounting, Postal: Federal University Otuoke, Bayelsa State, https://www.afarng.org/jfafi/
Ebubechukwu. Jacinta Ogochukwu: Department of Accountancy, Postal: School of Business Administration and Management Technology, Federal Polytechnic Nekede, Owerri, Imo State,, https://www.afarng.org/jfafi/
Ajaero, Obioma Obiageli: Department of Accountancy, Postal: Alvan Ikoku Federal College of Education,, Owerri, Imo State,, https://www.afarng.org/jfafi/

Journal of Forensic Accounting & Fraud Investigation (JFAFI), 2021, vol. 6, issue 2, 113-128

Abstract: This studying tends to find out whether the application of forensic accounting services by corporate organisations in Nigeria is effective in deterring fraudulent activities. The study anchored on a one- stock theory of forensic accounting. Three research questions and three hypotheses were formulated to guide the study and tested equally. The study involved accountants and managers of ten manufacturing firms quoted on Stock Exchange Group (SEG) and residing in Anambra State of Nigeria. This sample was selected through stratified random sampling technique. We adopted a survey research design. A four point likert scale was used in collecting data. The instrument was validated and its index of reliability determined using person product moment correlation coefficient (r), weighted mean and ANOVA were used to answer research questions and test hypotheses respectively. It was found that the application of forensic accounting in corporate organisations deter fraudulent activities to a grant extent and it is significantly effective. Based on these findings, recommendations were also given. The calculated F value is 206.72 while the table value of F value is 4.07. This shows that the calculated F value is greater than the table value. Thus, the null hypotheses is rejected at 0.05 level of significance. Also, in HO the calculated F value is 289.1 while the table value of F is 3.24. This shows that the calculated F value is greater than the table value. Therefore, the null hypotheses is rejected at 0.05 level of significance, hence we upholds the alternative hypotheses (HA).

Keywords: Corruption; Financial statement; Forensic accounting; fraudulent activities; Economic and Financial Crimes Commission (search for similar items in EconPapers)
JEL-codes: M38 M41 (search for similar items in EconPapers)
Date: 2021
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