Determinants of forensic accounting and its effects on alleviation of fraud practices in Nigerian Deposit Money Banks
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Date
2018
Journal Title
Journal ISSN
Volume Title
Publisher
Clarion University, USA
Abstract
Forensic Accounting report is considered as evidence in administration proceedings or in the court of Law. Despite this report on fraudulent activities in Nigeria, many foreign investors have lost several billions of dollars to fraudsters thereby leading to dis-investment from Nigeria. Hence, the study examined forensic accounting and alleviation of fraudulent practices in Nigerian deposit money banks. The study employed primary data obtained through questionnaire administration to staff of selected banks in Lagos state. With the aid of ordered logit regression, results of the study revealed that forensic accounting reduces asset misappropriation in Nigerian deposit money banks. The study concludes that there is a strong relationship between forensic accounting and alleviation of fraud practices in deposit money banks in Nigeria. The study therefore, recommends that management of Nigerian banking sector should train auditors on the dynamics and scope of financial crimes, the legal environment, fraud prevention and ethical issues.
Description
Keywords
Forensic accounting, fraud practices, sustainability, Deposit Money Banks
Citation
Kolawole, K. D., Salman, R. T., Durodola, S. E., Babatunde, D., & Igbekoyi, E. O. (2018). Deteminants of Forensic Accounting and Its effects on Alleviation of Fraud Practices in Nigerian Deposit Money Banks. Journal of Sustainable Development in Africa, 20(1), 331-342. Published by Clarion University, USA.