ABSTRACT
The subject matter of this study was "The Application
of Forensic Audit in the detection and prevention of fraud in the companies of
interest which was carried out with diligent and care. Some problems were
formulated and objectives of the study were declared. The sample size was 100
while the populatin was 134. The researcher employed simple random sampling
techniques which enabled each nlember of the population to have equal chance to
be selected. Objective of the study: in view of the problems highlighted in the
statement of the problem, this sthdy was undertaken for the following
objectives: To determine the application of unchecked fraud on the capital
formation of the companies of interest. To discover if forensic audit been has
a useful tool in prevention of fraud perpetration in business organization. To
determine if frequent fraud increases business mortality rate which affects
economic growth of the nation. To determine the effect offorensic auditor's
independence on elimination of fraud. To give advice on solution to the
problems. Testing the hypothesis: in this section, the hypothesis was tested
using the chi-square (X2) method. The decision criterion was used. The null
hypothesis was donated (Ho) which was chosen according to the validity of the
test as indicated. In chapter three, for data collection, primary and secondary
sources of data were utilized in eliciting relevant information for the purpose
of this study. Secondary sources of data, enlisted data collected internally
from the companies used as a dise study while others were gathered from outside
the case study. Such as periodicals, text bĂ oks, journals and magazines. They
were ued to complement primary sources. Fnally, having written at length on the
application of forensic audit in the detection and prevention of fraud. The following
recommendations were proffered; measures were used instead of conventional
audit to reduce cases of fraud, sanity and sanctity to the banking industry.
Forensic audit were taken to safeguard against future occurrence of fraud to
eliminate mortality of banks. People should report fraud when it occurs in the
organizations because to hide it will create room for failures of business and
disinvestment by investors. Forensic accounting department were added to public
sector accounting and law firms to help in analyzing, interpreting, summarizing
and presenting financial issues and situations in an understandable and
supportable manner. Forensic auditors were given freedom to carry out all
necessary research into the act invited of the banks. There should be adequate
independence to the forensic auditors.
MBH, C (2021). Application Of Forensic Audit In The Detection And Prevention Of Fraud (A Study Of Three Elected Banks In Aba Fidelity Bank, UBA Plc And First Sank Plc). Mouau.afribary.org: Retrieved Nov 01, 2024, from https://repository.mouau.edu.ng/work/view/application-of-forensic-audit-in-the-detection-and-prevention-of-fraud-a-study-of-three-elected-banks-in-aba-fidelity-bank-uba-plc-and-first-sank-plc-7-2
CHIAMAKA, MBH. "Application Of Forensic Audit In The Detection And Prevention Of Fraud (A Study Of Three Elected Banks In Aba Fidelity Bank, UBA Plc And First Sank Plc)" Mouau.afribary.org. Mouau.afribary.org, 09 Nov. 2021, https://repository.mouau.edu.ng/work/view/application-of-forensic-audit-in-the-detection-and-prevention-of-fraud-a-study-of-three-elected-banks-in-aba-fidelity-bank-uba-plc-and-first-sank-plc-7-2. Accessed 01 Nov. 2024.
CHIAMAKA, MBH. "Application Of Forensic Audit In The Detection And Prevention Of Fraud (A Study Of Three Elected Banks In Aba Fidelity Bank, UBA Plc And First Sank Plc)". Mouau.afribary.org, Mouau.afribary.org, 09 Nov. 2021. Web. 01 Nov. 2024. < https://repository.mouau.edu.ng/work/view/application-of-forensic-audit-in-the-detection-and-prevention-of-fraud-a-study-of-three-elected-banks-in-aba-fidelity-bank-uba-plc-and-first-sank-plc-7-2 >.
CHIAMAKA, MBH. "Application Of Forensic Audit In The Detection And Prevention Of Fraud (A Study Of Three Elected Banks In Aba Fidelity Bank, UBA Plc And First Sank Plc)" Mouau.afribary.org (2021). Accessed 01 Nov. 2024. https://repository.mouau.edu.ng/work/view/application-of-forensic-audit-in-the-detection-and-prevention-of-fraud-a-study-of-three-elected-banks-in-aba-fidelity-bank-uba-plc-and-first-sank-plc-7-2