FORENSIC ACCOUNTING TECHNIQUES, ACCOUNTING NUMBERS AND FRAUD PREVENTION IN THE LISTED INSURANCE COMPANIES IN NIGERIA

Haruna, Roselyn Afor (), Oyedokun, Godwin Emmanuel () and Mainoma, Akaro Muhammed ()
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Haruna, Roselyn Afor: Department of Accounting, Postal: Nasarawa State University, Keffi., https://www.afarng.org/jfafi/
Oyedokun, Godwin Emmanuel: Department of Accounting, Postal: Nasarawa State University, Keffi., https://www.afarng.org/jfafi/
Mainoma, Akaro Muhammed: Department of Accounting, Postal: Nasarawa State University, Keffi., , ,, https://www.afarng.org/jfafi/

Journal of Forensic Accounting & Fraud Investigation (JFAFI), 2020, vol. 5, issue 2, 1-39

Abstract: Forensic accounting is the integration of accounting, auditing and investigative skills. It is a 'specialised' area of accounting that explains engagements, which result from real or anticipated disputes or litigation. The main objective of this study is to assess Forensic accounting techniques, accounting numbers and fraud prevention in listed insurance companies in Nigeria. The study population comprised of all professional accountants and auditors in listed insurance companies in Nigeria with a sampled population of 257 determined using Cochran formula cited by Kothari (2013). The study uses survey research method through the use of questionnaire, while secondary sources were text books, published materials like journals and internet facility. The study made use of statistical package for service solution (SPSS V.21) to analyse the data. It was found among others that investigative skill techniques have positive influence on the integrity of financial statements of listed insurance companies in Nigeria., as evidenced from the individual level of significance of 0.005 and 0.022 which are less than the 5% acceptable level of significance and the coefficient of determination of the main model of 0.11 meaning that about 74% variation of the IFS is attributable to IST while the remaining 66% change in the IFS can be attributed to other factors not covered in the model. The key recommendation among others is that listed insurance companies in Nigeria should consider setting up Forensic accounting unit within the internal control department; this will lend credence to the integrity of financial statement of insurance companies in Nigeria.

Keywords: Accounting numbers; Forensic accounting techniques; Fraud prevention (search for similar items in EconPapers)
Date: 2020
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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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