Forensic Accounting and Fraud Prevention in Nigerian Public Sector: A Conceptual Paper

  • Abdulrahman, S. Department of Accounting, Faculty of Social and Management Sciences, Bauchi State University, Gadau, Bauchi State, Nigeria
Keywords: Forensic Accounting, Fraud Prevention, Public Sector, Fraud Triangle Theory, Fraud Diamond Theory

Abstract

This study examines forensic accounting and fraud prevention in Nigerian public sector by using some selected studies from within and outside Nigeria. The objectives of the study are to determine how does forensic accounting prevents fraud in Nigeria Public Sector and to determine whether forensic accounting prevents fraud in Nigeria Public Sector. To achieve the stated objectives of the study, data were collected from secondary source or Content Analysis. Based on the analysis, the study found that a significant positive influence exists between forensic accounting techniques and fraud prevention. The paper is of the opinion that more steps should be taken to ensure fraud prevention with the application of forensic accounting techniques. Moreover, an effective and thorough legal framework should be developed and be provided for effective enforcement of what the law say by government agencies that were saddled with such responsibility on behalf of the government.

References

Abdullahi, R. & Mansor, N. (2015). Fraud Triangle Theory and Fraud Diamond Theory. Understanding the Convergent and Divergent For Future Research. International Journal of Academic Research in Accounting, Finance and Management Sciences , 5, 38-45.

Adebisi, J. F., & Gbegi, D. O. (2015). Fraud and the Nigerian public sector performance: The need for forensic accounting. International Journal of Business, Humanities and Technology, 5(5), 67-78.

Adebisi, J.F., Matthew, O.B. & Emmanuel, Y.V. (2016). The Impact of Forensic Accounting in Fraud Detection and Prevention: Evidence from Nigerian Public Sector. International Journal of Business Marketing and Management (IJBMM) , 1 (5), 34-41.

Agbiboa, D. E. (2012). Between Corruption and Development: The Political Economy of State Robbery in Nigeria. Journal of Business Ethics , 108 (3), 325 - 345.

Akkeren, J. V. & Tarr, J. (2014). Regulation, Compliance and the Australian Forensic Accounting Profession. Journal of Forensic & Investigative Accounting , 6 (3), 1 - 26.

Al Samara, M. F., AL Afeef, J. H., & Al Ali, O. A. (2017). The Auditors’ Perception on the effect of Forensic Accounting to Mitigate Earnings Management in Jordanian Companies. British Journal of Economics, Finance and Management Sciences , 14 (2), 16-29.

Baz. R., Samsudin, R. S., Che-Ahmad, A. B. & opoola. O. M. J. (2016). Capability Component of Fraud and Fraud Prevention in the Saudi Arabian Banking Sector. International Journal of Economics and Financial Issues , 6 (4), 68-71.

Blessing, I. N. (2015). Empirical Analysis on the Use of Forensic Accounting Techniques In Curbing. International Journal of Economics, Commerce and Management , 3 (1).

Claire, A. C., & Jude, I. O. (2016). FORENSIC ACCOUNTING AND FRAUD DETECTION IN NIGERIAN PUBLIC SECTOR. Igbinedion University Journal of Accounting Vol, 2, 148-173.

Coenen, T. (2005). Fraud in Government. Wiscons in Law Journal Article Posted by Casafamar Sundip.

Cressey, D. R. (1953). Other People’s Money. Montclair, NJ: Patterson Smith.

Crumbley, D. L. (2003). Forensic and Investigative Accounting. . CCH Publishing.

Dandago, K. (1997). Fraud Detection and Control at Local Government Level. Journal of the Association of National Accountant of Nigeria , 7 (4).

Eiya, O. & Otalor, J. I. (2013). Forensic Accounting as a Tool for Fighting Financial Crime in Nigeria. Research Journal of Finance and Accounting , 4 (6), 8.

Enofe, A. O., Omagbon, P. & Ehigiator, F. I. (2015). Forensic Audit And Corporate Fraud. International Journal of Economics and Business Management IIARD , 1 (7), 1 - 10.

Enofe, A. O., Ekpulu, G. A. & Ajala, T. O. (2015). Forensic Accounting And Corporate Crime Mitigation. European Scientific Journal , 11 (7), 167-185.

Enofe, A. O., Ochuwa, A. F., Henrietta, I. O., & Nosareimen, I. (2017). Expert Witness And Financial Fraud Detection In The Public Sector. International Journal of Advanced Academic Research | Social & Management Sciences , 3 (7), 70- 87.

Enofe, A.O., Okpako P.O. & Atube, E. N. (2013). The Impact of Forensic Accounting on Fraud Detection. European Journal of Business and Management , 5 (26), 61-73.

Fyneface N. A. & Oseiweh, O. S. (2017). Forensic Accounting and Fraudulent Practices in the Nigerian Public Sector. International Journal of Arts and Humanities (IJAH) , 2 (1), 171- 181.

Gbegi, D., & Okoye, E. I. (2013). Forensic Accounting : A Tool for Fraud Detection and Prevention in the Public Sector . ( A Study of Selected Ministries in Kogi State ). International Journal of Academic Research in Business and Social Sciences, , 3 (3), 1 - 19.

Idris, O. A. (2017). Forensic Accounting and Financial Fraud in Nigeria: Problems and Prospects. Journal of Accounting and Financial Management , 3 (1), 23 - 33.

Imoniana, J. O., Antunes, M. T. P., & Formigoni, H. (2013). The forensic accounting and corporate fraud. JISTEM-Journal of Information Systems and Technology Management, 10(1), 119-144.

Kasum, A. S. B. (2009). The Relevance of Forensic Accounting to Financial Crimes in Private and Public Sectors of Third World Economies: A Study from Nigeria. Journal of Business Ethics .

Masoyi, Z. P., Dadi, A. Ernest, E.E. & Ogere, A. O. (2014). Application of Forensic Auditing in Reduding Fraud Cases in Nigeria Money Deposit Banks. Global Journal of Management and Business Research: D Accounting and Auditing , 14 (3), 1-9.

Modugu, K. P & Anyaduba, J. O. (2013). International Journal of Business and Social Science , 4 (7), 9.

Modugu, K. P., & Anyaduba, J. O. . (2013). Forensic Accounting and Financial Fraud in Nigeria : An Empirical Approach Kennedy Prince . International Journal of Business and Social Science , 4 (7), Pp. 281–289.

Mukoro, D., Yamusa, O. & Faboyede, S. (2013). the Role of forensic accountants in fraud. Change and Leadership Detection And National security in Nigeria (17), p. 17.

Mukorol, D. O., Ogijo Yamusa, O., & Faboyede, S. O. (2013). The Role Of Forensic Accounting In Fraud Detection And National Security. Journal of Management Research , 5 (1), 40-47.

Nekede, F. P., & Oko, F. P. (2013). An Emperical Analysis of Forensic Accounting and Financial Fraud. African Journal of Social Sciences , 3 (4), 112–121.

Nonye, A. & Okoli, B. E. (2015). Forensic Accounting As A Veritable Tool For Efficient Management Of State Owned Public Sectors In Ebonyi State: The Accountants Perspective. British Journal of Education , 3 (8), 55 -62.

Ogundana, O., Okere, W., Ogunleye, O., & Oladapo, I. (2018). Forensic Accounting and Fraud Prevention and Detection in Nigerian Banking Industry. COJ Reviews & Research , 1 (1), 1-8.

Okafor, M. C. & Agbiogwu A. A. (2016). European Journal of Accounting, Auditing and Finance Research , 4 (6), 70-80.

Olajide, D. S. (2014). Forensic Accounting Technique: A Means Of Successful Eradication Of Corruption Through Fraud Prevention, Bribery Prevention And Embezzlement Prevention In Nigeria. Kuwait Chapter of Arabian Journal of Business and Management Review , 4 (1), 176 - 186.

Othman, R., Aris, N. A., Mardziyah, A., Zainan, N., & Amin, N. M. (2015). Fraud detection and prevention methods in the Malaysian public sector: Accountants’ and internal auditors’ perceptions. Procedia Economics and Finance, 28, 59-67.

Owojori, A.A & Asaolu, T.O. (2009). The Role of Forensic Accounting in Solving the Vexed Problem of Corporate World. European Journal of Scientific Research , 29 (2).

Ozuomba C.N., Ofor T.N. & Okoye P.V.C. (2016). Forensic Accounting and Fraud in the Public Sector (A Case of Imo State Ministry off Finance. Research Journal of Management Science , 1-6.

Popoola, O. M. J., Che-Ahmad, A. & Samsudin, R. S. (2014). Journal of Modern Accounting and Auditing , 10 (8), 10.

Popoola, O. M. J., Che-Ahmad, A. & Samsudin, R. S. (2014). Task Performance Fraud Risk Assessment on Forensic Accountant and Auditor Knowledge and Mindset in Nigerian Public Sector. Accepted for publication in the Risk Governance & Control: Financial Markets & Institutions. , 4 (3), 84 - 90.

Umara, I., Samsudinb, R. S. B., & Mohamedb, M. B. (2016). Challenges of the Economic and Financial Crimes Commission and Their Influence on Adoption of Forensic Accounting: A Conceptual Framework.

Reed, S. (2014, July 5). Six Strategies for Fraud Prevention in Your Business. http://www.cgteam.com/blog/six-strategies-for-fraud-prevention-in-your-business.

Rezaee, Z., Crumbley, D. L., & Elmore, R. C. (2003). Forensic Accounting Education: A Survey Of Academicians And Practitioners. SSRN .

Suleiman, N., & Othman, Z. (2016). Forensic Accounting Investigation for fighting public sector corruption in Nigeria: A conceptual paper. In Proceedings of the Qualitative Research Conference (QRC) 2016 (pp. 194-202).

Umar, I., Samsudin, R. S. & Mohamed, M. (2017). Appraising the effectiveness of Economic and Financial Crimes Commission (EFCC) in tackling public sector corruption in Nigeria. Journal of Advanced Research in Business and Management Studies , 7 (2), 1-12.

Umar, I., Samsudinb, R. S., & Mohamedb, M. (2015). The types, costs, prevention and detection of occupational fraud: The ACFE perspective.

Umar, I., Samsudin, R. S. & Mohamed, M. (2016). Adoption Of Forensic Accounting In Fraud Detection Process By Anti-Corruption Agency: A Conceptual Framework. International Journal of Management Research & Review , 6 (2), 139 - 148.

Watoseninyi, A. B. (1996). Survey of Audit Investigation in Nigeria. The case of frauds. The National Accountant, 6(5) .

Wolf, D.T & Hermanson, D.R. (2004). The Fraud Diamond: Considering The Four Elements of Fraud. The CPA Journal December .

Published
2019-08-30
How to Cite
S., A. (2019). Forensic Accounting and Fraud Prevention in Nigerian Public Sector: A Conceptual Paper. International Journal of Accounting & Finance Review, 4(2), 13-21. https://doi.org/10.46281/ijafr.v4i2.389
Section
Regular Research Article/ Short Communication Article