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Authors
- DR ONOMUHARA OKE GOODWIN
DEPARTMENT OF ACCOUNTING, FACULTY OF SOCIAL AND MANAGEMENT SCIENCES, IGBINEDION UNIVERSITY OKADA
2. DR YAHAYA SULE SUMAILA
Yahaya Sule & Co, Eguadase street, Off AKPAKPAVA ROAD, BENIN CITY University
ABSTRACT
This study examined forensic accounting and fraudulent practices in the Nigerian public sector. The specific objectives ascertained if forensic accounting plays a significant role in curbing financial crime in the public sector, find out the extent to which forensic accounting deters money laundry. The study employed the survey descriptive research design. The study population consisted of all public institutions in Edo State, Nigeria. However, ten (10) government establishments, both Federal and State owned, were randomly selected. Structured four-scale Likert-type questionnaire was used as the research instrument to elicit responses from the respondents who were mainly internal auditors, chief accountants, executive directors and directors of the selected institutions. The data were analyzed using frequency counts and simple percentages method. Findings made indicated that forensic accounting plays a significant role in curbing financial crime in the sector, find out forensic accounting deters money laundry in public sector in Nigeria. The study therefore recommend that Students, lecturers and accountants should broaden their horizon with the knowledge of forensic accounting to boost the economic life of the nation. Secondly, accountant already in financial institutions should be sent on training so as to equip them with this new aspect of accounting i.e. forensic accounting.
Keywords: Forensic Accounting, fraudulent practices, financial crime, population