EFFECT OF FORENSIC ACCOUNTING ON FRAUD PREVENTION OF MICROFINANCE BANKS IN ABUJA NIGERIA

Authors

  • Dr. Mark Ede Department of Accounting, Miva Open University of Nigeria, Abuja
  • Dr. Nduka Trust Obinna Department of Accounting, Nile University of Nigeria, Abuja.
  • Isong, Iniobong Patrick Department of Accounting, Nile University of Nigeria, Abuja.

Keywords:

Forensic accounting, fraud investigation, litigation support, fraud prevention

Abstract

The purpose of the study examined the effect of forensic accounting on fraud prevention of microfinance banks in Abuja Nigeria. Specifically, the study examined the effect of forensic investigation on internal control of microfinance banks in Abuja and examined the effect of litigation support on internal control of microfinance banks in Abuja. The study made use of correlation and multiple regression analysis to analyze the data sourced for the study. The response rate of the distribution of questionnaire done which was 100% and it is adequate for data analysis. The correlations analysis showed that fraud investigation and litigation support have positive effect on internal control which implies that all the forensic accounting were found to have a positive effect with internal control, which means the more these skills are use there is high level at which internal control can be combated. The results from the multiple regression showed that units increase in application of fraud investigation will lead to approximately 4.8% increase in ensuring internal control (INC) and units increase in application of litigation support will lead to approximately 15.7% increase in ensuring internal control (INC) when all other variables are held constant. While, units increase in application of FRI will lead to approximately 66.1% increase in ensuring internal control (INC). Based on the findings, the study recommended that managers, assistant managers and supervisors of these organizations should enhance the used of forensic investigation techniques in ensuring internal control in their organizations. In addition, forensic accounting agency with legal provisions that will enable them to detect, monitor and report fraudulent activities in the business environment in the micro finance banks in Nigeria

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Published

2024-06-24

How to Cite

Ede, M. ., Nduka , T. O., & Isong, . I. P. . (2024). EFFECT OF FORENSIC ACCOUNTING ON FRAUD PREVENTION OF MICROFINANCE BANKS IN ABUJA NIGERIA . Advance Journal of Management, Accounting and Finance, 9(6), 1–23. Retrieved from https://aspjournals.org/ajmaf/index.php/ajmaf/article/view/97

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