Forensic Accounting And Its Influence On Fraud Detection And Prevention In Nigeria (A Study Of First Bank Plc)

ABSTRACT 

This study aimed at evaluating forensic accounting and its influence on fraud detectioN and prevention in Nigeria. The ex-post facto research design was adopted and data collected from both primary and secondary sources. The collected data was analysed using the ordinary least square technique. The empirical results the study revealed that the estimated  coefficient  of the regression parameters  have positive  sign and thus conform to our priori economic expectation. The implication of this -sign  is that  the dependent variable Fraud Detection & Prevention (FDP) is positively influenced by Assisted Auditing Technique (CAAT), Data Mining (DM), Relative Size Factor (RSF) and BenfordLaw  (BL). The study revealed that Assisted Auditing Technique "(CAA 1'), Data  Mining  (DM),  Relative  Size  Factor  (RSF)  and  Benford  Law  (BL)  have  a significant influence  on.fraud detection  &prevention. In view of the crazefor  money in Nigeria,  misplace value judgment and the prevailing  harsh economic environment. frauds  are on the increase and the banks are losing amount running  into millions of naira to fraudsters almost on daily basis.  In most cases when the fraudsare detected early, amount already drawn are usually difficult to recover. The study recommended that  auditors  are  expected  to  consider whether  the  informationpresented  in the financial   statements  is  relevant,   reliable,   comparable  and·  understandable  when forming·  an  opinion. on  whether financial  statements fairly present   the financial position, results of operations and cash flows of an entity and are required lo  discuss their judgement  about  the quality of an entity's  financial statements with the audit committee.  It is recommended that this quality assessment will enhance the usefulness offinancial  informationfor  all users and should therefore.be included in the statutory auditor's report.  Also,   there should be great awareness of the problem  of forensic accounting in Nigeria, as evidenced by articles in accounting and business journals. This poses a major threat to the accounting profession, in terms of their credibility and standing in the business community. It also creates major problems of litigation risk for auditors. If the government and the accounting profession in Nigeria work together then the concept of true andfair view can be a key part of the solution to this problem.

 Table of contentsDeclarationCertification                                                                                                      ..Dedication                                                                                                         111Acknowledgement                                                                                          lV Table of contents                                                                                             v List of tables                                                                                                    lX Abstract                                                                                                             x
CHAPTER ONE INTRODUCTION CHAPTER TWOREVIEWOF RELATED LITERATURE2.1   Theoretical framework                                                                     92.1.1   Theory of opportunity, pressure,  and personality                                 92.5  Services  provided  by a forensic accountant ﾿ 232.6  Conceptual  definition  of fraud ﾿ 2.7  Types  of fraud ﾿ 2.8   Causes of fraud ﾿ 2.9  Future  of forensic  accounting ﾿ ﾿ CHAPTERTHREE ﾿ RESEARCH METHODOLOGY ﾿ 3 .1        Research  design ﾿ 3 .2  Population for the study ﾿ 3 .3  Sample  size  and sample size determination ﾿ 3 .4 Sampling  procedures  and techniques ﾿ 3 .5      Methods of data collection  and data   sources3 .6 Validity  of the research  instrument3. 7 Reliability  test of the instrument3 .8      Limitations  of the study3 .9     Model  specification3.10    Techniques   of data  analysis                                                                       37

CHAPTER FOUR

 

 

DATA PRESENTATION, ANALYSIS AND DISCUSSION OF

 

FINDINGS

 

4.1  Data presentation

 

4.2 Analysis  of data

 

4.3 Test of hypotheses

 

4.4 Discussion  -of  findings

 

CHAPTER  FIVE

 

 

SUMMARY, CONCLUSION AND RECOMMENDATIONS

 

5 .1    Summary  of findings

 

5 .2 Conclusion

 

5 .3  Recommendations

 

REFERENCES