Forensic Accounting and Fraudulent Practices in the Nigerian Public Sector

ABSTRACT

This thesis is an empirical investigation of forensic accounting and fraudulent practices in the Nigerian public sector. The broad objective of this study is to examine the impact of forensic accounting on fraudulent practices in the Nigerian public sector. The specific objectives are to examine the relationship between forensic accounting education and fraudulent practices in the public sector; investigate the relationship between forensic accounting skills and fraudulent practices in the public sector; assess the relationship between forensic accounting with litigation support services in Nigeria court and fraudulent practices in the public sector; and determine the awareness of forensic accounting impacts on fraudulent practice in the public sector.

            This study used quantitative data, by administering a total of two hundred (200) copies of likert-scale questionnaire to members of the chosen samples which includes: directors, permanent secretary, internal auditors, chief accountants and senior staff of Edo State Government Ministries, Department and Parastatalslocated in Benin City, Edo State, while one hundred seventy one (171) copies were returned for purpose of data analyses. Responses from the questionnaire were coded and subjected to ordinary least square test for purpose of data analyses.        

            The estimation of the undated ordinary least square regression revealed that there is no significant relationship between forensic accounting education and fraudulent practices in the public sector; there is a significant positive relationship between forensic accounting skills and fraudulent practices in the public sector; there is significant negative relationship between forensic accounting with litigation support services in Nigeria court and fraudulent practices in the public sector; the awareness of forensic accounting impact on fraudulent practice in the public sector. It is therefore recommended that there is need for incorporation of forensic accounting into the curriculum of tertiary institutions particularly their accounting departments; finance functional areas in organisations should make huge investment in forensic accounting skills so as to be able to cope with the relevant challenges posed by fraudsters in an organization; the Nigeria judicial system should create the enabling atmosphere to allow for practice of forensic skills and admission of expert testimonies by expert witness; and that there is the need for increase awareness of forensic accounting to enable different stakeholders to embrace its importance.