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The Role Of Forensic Accountants In Fraud Detection And National Security In Nigeria

Author

Listed:
  • Dickson Mukoro

    () (Department of Accounting,Covenant University, Ota, Nigeria)

  • Ogijo Yamusa

    () (Department of Banking & Finance, Federal Polytechnic, Ilaro, Nigeria)

  • Samuel Faboyede

    () (Department of Accounting,Covenant University, Canaanland, Ota, Nigeria)

Abstract

This study aims at exploring the relevance of forensic accounting in curbing crime and corruption in public sector. The objective of the research work seeks to explore the role a forensic accountant can play in the fight against corruption by applying his investigative skills, providing litigation support service and documentation and reporting. The population used in the research was the Federal Inland Revenue Service (FIRS). The research design employed was the survey research. Data were majorly collected from primary sources. The hypothesis testing in this research work was done using regression analysis. The results of the empirical findings show that forensic accountants are relevant in investigating crime and corruption in the public sector. Forensic accountants play a role in litigation support services in the public sector, and forensic accountants are relevant in documentation and reporting. It was observed that the forensic accountants play a significant role in curbing crime and corrupt practices in any public sector since they provide a mechanism to hold people accountable, such that those who manage resources in a fiduciary capacity do not easily abuse that trust without detection. Amongst other proferred solutions, it was recommended that accounting professionals should always act proactively such that the members of the profession in Nigeria are kept abreast of emerging technologies, especially in the area of forensic accounting. The legislature should also see to it that the executive grants full autonomy to the agents of government that are charged with enforcing accountability. Office of the Auditor-General of the Federation, the Economic and Financial Crimes Commission, Independent Corrupt Practices Commission, and Code of Conduct Bureau, should be fully independent entities free to do their jobs without undue meddling and interference.

Suggested Citation

  • Dickson Mukoro & Ogijo Yamusa & Samuel Faboyede, 2013. "The Role Of Forensic Accountants In Fraud Detection And National Security In Nigeria," Manager Journal, Faculty of Business and Administration, University of Bucharest, vol. 17(1), pages 90-106, May.
  • Handle: RePEc:but:manage:v:17:y:2013:i:1:p:90-106
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    References listed on IDEAS

    as
    1. Dean F. Amel & Colleen Barnes & Fabio Panetta & Carmelo Salleo, 2002. "Consolidation and efficiency in the financial sector: a review of the international evidence," Finance and Economics Discussion Series 2002-47, Board of Governors of the Federal Reserve System (U.S.).
    2. Dean Amel & Colleen Barnes & Fabio Panetta & Carmelo Salleo, 2002. "Consolidation and efficiency in the financial sector: a review of the international evidence," Temi di discussione (Economic working papers) 464, Bank of Italy, Economic Research and International Relations Area.
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