Evaluation of Key Determinants of Fraud Free Financial Report: a Focus on Nigeria

The study evaluated the key determinants of fraud free financial reports. Descriptive research design was used. Two null hypotheses were tested using Z-test for proportion, F statistics and Microsoft excel 2010 toolpak. The study revealed that there is significant relationship amongst the following variables; Accounting Standards, Corporate Governance and Internal Controls in determining Fraud Free Financial Report. Furthermore, that in Nigeria to obtain Fraud Free Financial Report emphasis was on Accounting Standards, Internal Controls and Corporate Governance in this order and,Auditor¡¯s Independence, Whistle Blowing and Accountants¡¯ Education received little or no attention. It also revealed that from extant literature Accounting Standards are tools for combating 25% of the eight elements in fraud management cycle while 75% of them are within the purview of Forensic accounting. Hence it recommended that forensic accounting courses should be incorporated into the curriculum of professional accounting institutes in order to equip their members with sufficient skills that would enable them effectively perform their duties as public accountants.