Use of forensic accounting techniques in the detection of fraud in tertiary institutions in Anambra State, Nigeria
This study investigated the extent of use of forensic accounting techniques in the detection of fraud in tertiary institutions in Anambra State, Nigeria. One research question guided the study and one null hypothesis was tested. Related literature pertinent to the study was reviewed which exposed the need for the study. Descriptive survey research design was adopted and a population of 280 accounting officers in universities, polytechnics and colleges of education in Anambra State were studied without sampling. Questionnaire developed by the researcher was used for data collection. Data were analyzed using mean, standard deviation and one way Analysis of Variance (ANOVA). Mean was used to answer the research question and standard deviation was used to explain how the responses of the accounting officers varied. ANOVA was used to test the hypothesis at 0.05 level of significance. Statistical Package for Social Sciences (SPSS) was used to analyze data collected. The results showed that accounting officers in tertiary institutions in Anambra State use forensic accounting techniques to a high extent in the detection of fraud. The results also showed that the accounting officers in universities, polytechnics and colleges of education differed significantly in their mean ratings on the use of forensic accounting techniques in the detection of management fraud in tertiary institutions in Anambra State. Scheffe post hoc test of multiple comparisons was conducted to determine the direction of the difference. Based on the findings, the researcher recommended, among others, that accounting officers should be aware of the benefits of forensic accounting techniques in detecting fraud in their establishments and the severity of financial fraud as well as susceptibility of their organizations to fraud.
Keywords: Forensic accounting, techniques, fraud detection and management fraud