AN INVESTIGATION INTO THE EFFECT OF FORENSIC ACCOUNTING PREDICTORS AND PROCUREMENT FRUAD IN OIL AND GAS COMPANIES IN NIGERIA
Abstract
This study investigated the forensic accounting predictors on procurement fraud in Nigeria’s Oil and Gas sector. This study adopted a survey research design. The target population for this study was 206 staff of 8 major marketers in oil and gas company in Nigeria. The study collected primary data from the partakers through a structural questionnaire. The Primary data was obtained from the use of structured questionnaires. The population was two hundred and six (206) employees of the Audit and finance/Account department s from the 8 major marketers oil and gas company in Nigeria. The sample size was one hundred and thirty-six (136) respondents using stratified Sample technique with the use of Taro Yamane (1967) Model. Data were obtained through the use of a well-structured questionnaire. Descriptive and inferential (regression) statistics were used for data analysis. The findings revealed that there is a significant effect of forensic accounting techniques on procurement fraud in the oil & gas company in Nigeria with the Model fitting information telling how well model fit the data resulting in (P = 0.001) which is below the significant level. The study concluded that only forensic accounting technology knowledge reduces procurement fraud in the oil and gas companies in Nigeria, significantly. It is recommended that there should be continuous enforcement of anti-fraud laws by the established anti-fraud agencies such as the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC), the Code of Conduct Bureau (CCB).
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Published in BUSINESS AND FINANCE JOURNAL
ISSN: 988-47878
This article appears in our peer-reviewed academic journal
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