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FORENSIC ACCOUNTING AND FRAUD DETECTION AND REVENTION IN THE NIGERIAN PUBLIC SECTOR
A B S T R A C T
This paper is aimed at empirically evaluating the relationship between forensic Accounting and fraud detection and prevention in the Nigerian public sector. The study used a survey design utilizing a sample size of one fifty (50) respondents which consist of auditors and accountants in ten (10) ministries selected from FCT Abuja in Nigeria. Analysis of variance, (ANOVA) used to test the hypotheses at 5% significant level. Findings of the study revealed that the use of forensic accounting in the Nigerian public sector is effective in detecting fraud; there is also a significant correlation between forensic accounting and the litigation support service in Nigerian courts. Similarly, use of forensic accounting in the public sector is also effective in preventing fraud. The study therefore, recommends that the public sector should install an uninterrupted enhancement in the internal control system and introduce effective and efficient internal check and monitoring, they should adopt an effective accounting system capable of holding officers accountable for their actions. Forensic accountant should be made to undergo appropriate training on forensic accounting skills. Furthermore, officers in the public sector should embrace integrity, accountability, fairness, objectivity, as an essential moral duty to reduce the rate of fraudulent practices in Nigeria.
Keywords:
Forensic Accounting, Fraud detection, Fraud prevention Corruption, public sector.