International Journal of Advanced Multidisciplinary Research and Studies
Volume 3, Issue 3, 2023
Forensic Accounting and Fraud Detection: The Accountants’ Perspective
Author(s): Lawal Ismaila, Osaloni Bankole O, Igbekoyi Olusola Esther
The frequent and consistent increase in fraud and financial crime in organizations both the Public and Private sectors despite the internal mechanism has motivated this study. The study investigated the effect of forensic accounting on fraud detection. The study adopted a survey research design. The population consist of 100 accountants in Ekiti State. The data were collected using a structured questionnaire. Data collected were analysed using descriptive statistics and ordinary least square regression analyses. The findings revealed that financial accounting surveillance and forensic audit investigation and detective skill exhibited a significant positive relationship with fraud. Computer assisted review and document review skills show insignificant positive relationships. The result also shows that forensic accounting variables play a tremendous role in detecting fraud. It was concluded that to prevent and detect fraud occurrence accounting tools such as financial accounting surveillance, forensic audit investigation, and deterrence skills should be employed. Also, continuous application of forensic accounting surveillance will help in greater dimension in curbing and reduction of fraud to the lowest minimum in Nigeria organizations.
Keywords: Forensic Accounting, Forensic Audit, Fraud Detection, Financial Accounting Surveillance, Computer Assisted Review
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