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West African Journal of Industrial and Academic Research

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Forensic accounting and financial crisis in Nigeria

O.M. Anuolam, T.E. Onyema, Ussim Ekeke

Abstract


In recent times, there has been a spate of dramatic increase in Economic and financial crimes across the globe. The developing economies have not been left out, especially Nigeria. No day passes without a report of some financial crime or the other. Forensic accounting has become an emerging topic for research in recent time as a panacea for financial crimes. This study examines the significance of forensic accounting in the face of increasing fraudulent practices in Nigeria with a view to advancing some solution. A sample of 98 respondents were selected from a population of 140 using the Taro Yemen formular. 90 questionnaires were returned fully and correctly completed by the respondents. Regression analysis, correlation coefficient, Ordinary Least Squares (OLS) and E-view 7 Geometric software were used to analyze the data. The findings of the study show that forensic accounting is significant in the face of the increasing fraudulent practices in Nigeria. Based on the findings, it is recommended that the government should make forensic accounting compulsory for all accounting majors in the University and create enabling environment for the practice of forensic accounting in the country.

Keyword: Forensic accounting, fraudulent practices, true and fair value, financial crimes, enabling Environment




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