FORENSIC ACCOUNTING TECHNIQUE AND ECONOMIC CRIMES: EVIDENCE FROM DEPOSIT MONEY BANKS IN NIGERIA
Abstract
The pervasive issue of financial statement manipulation in the twenty-first century, as exemplified by well-documented cases has engendered substantive inquiries into the indispensability and efficacy of auditors in upholding transparency and pre-empting fraudulent practices. Nigeria is faced with an alarming and high prevalence of fraudulent activities and as a result many crimes reported remain inadequately investigated which has prompted questions about the underlying causes. As a result, the study investigated the effect between Forensic Accounting Technique, Corporate Governance and Economic Crimes in Deposit Money Banks in Nigeria. The study adopted a survey research design. The study population was the 685 employees in the operation, finance, accounting and audit departments of 16 DMBs – using stratified sampling technique – out of the 32 licenced DMBs in Nigeria. The Taro Yamane sample size was employed in selecting the 253 respondents for the study. The study used primary data via a well-structured five-Likert scale dimension. Findings revealed that forensic accounting techniques and corporate governance have effect on Misappropriation of assets (Adj R2 = 0.519, F(9, 223) = 28.79, p < 0.05). The study concluded that forensic accounting techniques and corporate governance had impact on economic crimes in the DMBs in Nigeria. The study recommended that banks should prioritize continuous training and development programs to enhance the expertise of their staff in forensic accounting methodologies which will foster a deep understanding of investigative techniques and effectively contribute to the mitigation of asset misappropriation risks.
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Published in JOURNAL OF ACCOUNTING AND BUSINESS
ISSN: 1596-9912
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