Department of Accounting, Bells University of Technology, Nigeria
*Corresponding author: Okere Wisdom, Department of Accounting, Bells University of Technology, Ota, Ogun State, Nigeria
Submission: May 21, 2018; Published: May 31, 2018
ISSN 2639-0590Volume1 Issue1
This study examined the role of the forensic accountant in the prevention and detection of fraud in the Nigeria banking sector. The study adopted the Survey research design while the source of data is the primary data and the data sourced was gleened from copies of the questionnaire administered to selected banks. Three (3) hypotheses were formulated and tested using Simple regression at a significant level of 5%, Independent T-test and Oneway Anova. Findings revealed a negative significant relationship between IFRS adoption and foreign direct investment of Nigeria banks. Findings also revealed that between forensic accounting has a significant impact on fraud prevention and detection. In addition, the findings of this study also revealed that there is a low level of the awareness of forensic accounting in the Nigeria banking industry. Consequently, the study recommended that Nigerian Government should provide the enabling environment for forensic accounting profession to thrive in the country by strengthening the legal, educational and political frame work in the country.
Keywords: Auditing; Detection; Fraud; Forensic; Prevention; Investigation
Abbrevations: CBN: Central Bank of Nigeria; BOFIA: Banks and Other Financial Institutions; EFCC: Economic and Financial Crimes Commission; ICPC: Independent Corrupt Practices Commission; GAAP: Generally Accepted Accounting Principles; OLS: Ordinary Least Square Regression; SPSS: Statistical Package for Social Sciences; NUC: National Universities Commission; ICAN: Institute of Chartered Accountants of Nigeria