Forensic Accounting Techniques, Internal Control System and Fraud Prevention in Selected Deposit Money Banks in Ibadan, Oyo State, Nigeria

Oyedokun, Godwin Emmanuel () and Adewuyi, Ayotomiwa Isaac ()
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Oyedokun, Godwin Emmanuel: Department of Management and Accounting, Postal: Lead City University, Ibadan, Nigeria, https://www.afarng.org/jfafi/
Adewuyi, Ayotomiwa Isaac: Department of Management and Accounting, Postal: Lead City University, Ibadan, Nigeria, https://www.afarng.org/jfafi/

Journal of Forensic Accounting & Fraud Investigation (JFAFI), 2022, vol. 7, issue 1, 1-20

Abstract: The banking industry is becoming more and more susceptible to fraud over the years due to ineffective internal control measures been put in place. As banking industries move on with wide range of activities, fraud can therefore occur from both internal and external sources which have negative effect on the organization. forensic accounting techniques, internal control system on Fraud Prevention in selected deposit money banks in Ibadan North LGA, Oyo State, Nigeria. The research design used was the descriptive survey. The population of the study consisted of 5 deposit banks, total of 20 staff members which was accomplished by purposive sampling procedures with each bank having four key staff members (a head of operations, a fund transfer officer, resident internal control officials, and cash officials). Primary data were collected using the questionnaire instrument. The correlational analysis revealed that forensic accounting knowledge correlates with fraud prevention at 0.320, which is significant at the 0.01 level (2-tailed). The findings revealed there exist a significant effect of forensic accounting techniques on Fraud Prevention in selected deposit money banks in Nigeria. The study, therefore, recommends that staffs, ranging from head of operations, fund transfer officer, resident internal control officials, and cash officials, should a􀄴end conferences and seminars within and outside the country on the applicability of forensic accounting skills and techniques to prevent fraud and detect whenever it is perpetrated.

Keywords: Deposit money banks; Forensic accounting; Fraud prevention (search for similar items in EconPapers)
Date: 2022
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Journal of Forensic Accounting & Fraud Investigation (JFAFI) is currently edited by Godwin Emmanuel Oyedokun, Muhammad Akaro Mainoma and Suleiman A. S. Aruwa

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