Impact of Forensic Accounting on Fraud Reduction in the Nigerian Banking Sector

Morufu Oladejo and Yinus Oluwaseun

International Journal of Empirical Finance, 2015, vol. 4, issue 4, 250-257

Abstract: Fraud has become a maggot that has eating deep into the fabric of the financial sector of the Nigerian economy. Testing the influence of forensic accounting in Nigeria commercial bank, we enable us to analyse the intensity and pattern of fraud and how this can mitigated using forensic Accounting techniques. this study aim by side of investigate impact of forensic Accounting on reducing fraud in the Nigerian banking sector and was carried out in Lagos state on 125 senior and management staff in one of the quoted banks (Eco Bank) in Nigeria. Data were collected through questionnaire, this data were analysed using descriptive statistic tool. Hypotheses were tested through chi-square statistics to examine relationship between forensic Accounting and the performance of banks that adopt forensic accounting technique as a means of fraud reduction. The result of the findings shows that Forensic Accounting is significantly useful in fraud control and reduction in the Nigeria Banking Industry and positively influence banks performance. To this end, It is recommended that banks management should give a clear definition of the overall purpose of a banking industry vis-a-vis the strategic thrust that governs what it does and how if functions, Role and functions of forensic accountants and auditors must clearly define, most especially in the area of reducing fraud in the banking sector.

Keywords: Forensic Accounting; Fraud; Forensic Accountant; Auditor; Nigerian Commercial Banks (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (1)

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