Role of Proactive Forensic Audit in Safeguarding Assets of an Organisation

Emerita Kagombora and Crispin John Mbogo
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Emerita Kagombora: Accounting and Finance Department, St. Augustine University of Tanzania
Crispin John Mbogo: Accounting and Finance Department, St. Augustine University of Tanzania

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 3, 321-338

Abstract: This study examines the role of proactive forensic audit in safeguarding assets of an organisation. Specifically, the study aimed to investigate the existence of qualified forensic auditors who safeguard assets, examine the existence of an automated proactive search for fraud indicators as a tool of safeguarding assets and to evaluate the integrity of the forensic auditors in Tanzania Revenue Authority, Kariakoo offices. The study collected data using questionnaires which were distributed to 144 respondents; among them were tax management officers, human resource officers, legal councils, ICT officers, accountants and auditors. The data were organized and analysed in SPSS. The study applied case study research design with qualitative and quantitative approaches. Findings of the study indicate that there is a shortage of qualified forensic auditors in TRA Kariakoo offices. The process of implementing the automated proactive search for fraud indicator is average. TRA Kariakoo examines its employees’ integrity on a regular basis. This study suggests to TRA Kariakoo to facilitate training to its employee in forensic audit skills. To tackle the challenge of automated search for proactive fraud indicators, TRA Kariakoo could adopt and make improvements in forensic audit tools, adopt new ones, create awareness to employees on these tools and to have continuous assessments of all employees.

Date: 2024
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