Okolo, U. Ebere and OKWO, Ifeoma M. and Ani, Ikechukwu (2019) APPLICATION OF FORENSIC ACCOUNTING IN FRAUD MANAGEMENT IN THE NIGERIAN BANKING SECTOR. Research Journal of Financial Sustainability Reporting, 4 (1). pp. 40-52.

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This study was motivated by the series of fraud cases in banking sector of Nigeria and focused on fraud management to aid economic development since Banks are the wheel of economic activities of the nation. Survey research design was utilized. Area of the study was commercial banks excluding mortgage finance banks, Agric banks and Nigerian bank for commerce and industry. Frequency, percentages were utilized in analyzing data also, combat alpha which performed very well with a value of 0.876 which indicate a high measure of internal consistency (data is reliable) while, single factor ANOVA was the statistical tool used to test hypotheses to compare the difference between variables of forensic accounting to fraud control. Among the findings were that the use of Forensic Accounting technique does significantly reduce the occurrence of fraud cases in the banking industry; thereby, excess bank resources could be redirected to fund weaker sectors for economic development. The significant contribution of the study is the researchers discovered that not only the experts (forensic accountants) fish out fraud activities but every staff, customer/stakeholders and even the banking public are made aware of forensic accounting to fish out and report to the experts on any abnormality that may lead to fraudulent act for the experts to investigate the activity before it materializes into fraud. Since the investigative techniques of forensic accounting help in fraud management; banks should continue the utilization of it to manage fraud.

Item Type: Article
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Faculty of Arts > Faculty of Law > Faculty of Management and Social Sciences > Faculty of Education
Depositing User: mrs chioma hannah
Date Deposited: 27 Jul 2021 13:19
Last Modified: 27 Jul 2021 13:19

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