EFFECT OF FORENSIC ACCOUNTING ON FRAUD DETECTION AND PREVENTION IN THE NIGERIAN PUBLIC SECTOR
Keywords:
Forensic Accounting, Forensic Arbitration, Forensic Litigation, Forensic Mediation, Fraud Control, Fraud DetectionAbstract
This study examined the effect of forensic accounting on fraud detection and prevention in Nigerian public sector. Specifically, the study determined the effect of forensic litigation, forensic mediation and forensic arbitration on fraud control efficiency, respectively. In this study, survey research design was deployed. The population for this study comprised 6,393 staff working across federal ministries, departments, and agencies in Anambra State. A random sample of 266 staff was sampled for the study. Primary data were collected using a structured questionnaire. Descriptive statistics, such as mean scores and frequency distributions, were used to summarise the data. Pearson correlation was used to analyse the research questions. Multiple regression analysis was used in the test of the hypotheses. The findings revealed that: forensic litigation has a positive and significant effect on fraud control efficiency in the Nigerian public sector; forensic mediation has a significant positive effect on fraud control efficiency in the Nigerian public sector; forensic arbitration has a significant positive effect on fraud control efficiency in the Nigerian public sector. In conclusion, forensic accounting plays a key role in reducing financial leakages, which in turn supports government institutional trust. The study recommends that the National Assembly and the Nigerian Ministry of Justice should take the necessary steps to strengthen the legal framework around forensic litigation by working to implement dedicated forensic units within public sector legal teams, provide additional training for prosecutors and investigators on the importance and execution of forensic litigation, and allocate sufficient resources to these units to ensure timely and effective handling of fraud cases.
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