The topic “Automated forensic auditing and fraud control in Nigeria” is a critical concept in modern days accounting, and our country Nigeria is not left out in its practice. This research aims at pointing out the rationale behind fraudulent practices as well as examining the role of automated forensic auditing on fraud control. A survey research design was adopted for this research study and the sample size was selected using Taro Yamane sampling technique as data used were obtained from both primary and secondary sources. Four research questions were formulated out of which three hypotheses were tested using the (ANOVA) statistical technique. From the analysis, the major findings derived were that; Automated forensic auditing has significant relationship with fraud control as it helps in the detection and prevention of fraud; There are measures employed to solve the problems of insufficient documented materials necessary for investigating suspects as it helps to foster investigative process; There are standards set for improving on techniques used for obtaining evidence. Conclusively, it can be said that fraud control in Nigeria cannot do without forensic accounting; fraud detection may not be possible in Nigeria if management of different levels are not committed to do an indebt study of a financial statement i.e. having a physical check of assets and liabilities. It was recommended that; The internal control system of every organizations should be strengthened through regular audit; training of forensic auditors should be done regularly, and also seminars should be organized to encourage the use of automated tools.
TABLES OF CONTENTS Title page i Certification ii Dedication iii Acknowledgments iv Abstract v Table of contents vi
CHAPTER ONE: INTRODUCTION 1.0 Introduction 1 1.1 Background of the study 2 1.2 Statement of the problem 4 1.3 Statement of the objectives 5 1.4 Research question 5 1.5 Research hypotheses 6 1.6 Significance of the study 7 1.7 Scope of the study 8 1.8 Limitations of the study 8 1.9 Definitions of terms 9
CHAPTER TWO: REVIEW OF RELATED LITERATURE 2.0 Introduction 10 2.1 Academic review 10 2.2 Fraud deterrence and detection 12 2.3 Elements of fraud 13 2.4 Types of fraud 14 2.5 Fraud theories 15 2.6 Antidotes to fraud 16 2.7 Fraud risk management 19 2.8 The fraud teams 23 2.9 Forensic auditing 25 2.10 Application of forensic audit 26 2.11 Investigative audits 29 2.12 Automated forensic tools 33 2.13 The significant of automated tools 40 2.14 Differences between forensic and financial audit 41 2.15 Advantages of forensic auditing to fraud control 42 2.16 Disadvantages 43 2.17 References 44
CHAPTER THREE: RESEARCH METHODOLOGY 3.0 Introduction 47 3.1 Research design 47 3.2 Sources of data collection 48 3.3 Area of the study 48 3.4 population of the study 49 3.5 Determination of sample size 49 3.6 Reliability test 50 3.7 Validity test 51 3.8 Method of data analysis 51 3.9 References 52
CHAPTER FOUR: DATA PRESENTATION, ANALYSIS AND IMPLEMENTATION 4.1 Presentation of data 53 4.2 Test of hypotheses 67 4.3 References 81
CHAPTER FIVE: SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION 5.1 Summary of findings 82 5.2 Conclusion 82 5.3 Recommendation 84 5.4 References 85 Appendix 1 86 Appendix 11 87 Bibliography
AUTOMATED FORENSIC AUDITING AND FRAUD CONTROL IN NIGERIA (A CASE STUDY OF THE ECONOMIC AND FINANCIAL CRIMES COMMISSION, PORTHARCOURT)
ABSTRACT The topic “Automated forensic auditing and fraud control in Nigeria” is a critical concept in modern days accounting, and our country Nigeria is not left out in its practice. This research aims at pointing out the rationale behind fraudulent practices as well as examining the role of automated forensic auditing on fraud control. A... Continue Reading
SUMMARY OF FINDINGS From the analysis in chapter four, the following findings were derived, and these include; Automated forensic auditing has significance relationship with fraud control as it helps in the detection and prevention of fraud. There are methods adopted to adequately train forensic auditors which can be useful in investigating fraud.... Continue Reading
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TABLE OF CONTENTS Chapter One: Introduction Background of the Study Statement of the Research Problem Research Objectives Hypothesis Significance/Scope of the Study Organization of the Study Research Methodology CHAPTER TWO Literature Review... Continue Reading
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Nigeria post independent era witnessed various kinds of manifestation and widespread corruption as a result of oil boom and the transfer of power from the colonial master to indigenous educated ruling elites. This made the government to set up various machines / institutions to control corruption and other financial crimes in the country. One... Continue Reading
ABSTRACT The first decade of the twenty-first century experienced a tsunami or blizzard in the number of reported corporate scandals, frauds, and failures (Ball, 2009). According to Oseni (2017) the nature of such fraud rendered traditional auditing and investigation inefficient and ineffective in fraud detection and prevention. Statutory audit... Continue Reading
Abstract This study examine the determinants of commercial banks’ profitability in Nigeria, to ascertain if forensic accounting plays a significant role in curbing financial crime in the Nigerian banking sector, to find out the extent to which forensic... Continue Reading
CHAPTER ONE 1.0 INTRODUCTION 1.1 BACKGROUND OF STUDY Nigeria is one among the African nations that are plague with fraud and financial crimes and these have had effect on the economy of Nigeria. These crimes, be it economic or financial crimes or both have a kind of... Continue Reading