Effect of Forensic Accounting on Financial Fraud in Nigeria

Abstract

This study examined the relationship between forensic accounting and fraudulent activities in Delta State corporate firms. Specifically, the study intended to: examine the extent forensic accountant relates to fraud prevention in corporate firms, and determine how Forensic accounting relates to fraud detection in corporate firms. The study adopted a descriptive survey design in which data were collected across a population through sampling. A sample of 198 was chosen from population of 393 Accounting officers and Internal Auditors from various ministries in the State, using Taro Yamane’s formula. Data were collected through survey using copies of questionnaire as research instruments. In testing the hypotheses formulated, data were analyzed using Pearson correlation coefficient tool at 0.05 level of significance via Statistical Package for Social Sciences (SPSS), version 20.0. From the analysis and hypotheses tested, the study shows that there is a significant relationship between forensic accounting and fraud prevention and fraud detection in selected firms in Delta State. On this note, it was recommended that the firm management should enforce the application of forensic accounting principle in their various firms and method to tackle fraud and irregularities in corporate firms