Authors : Olaniyan Niyi Oladipo and Awe Solomon Olurotimi
Abstract: The study examined the influence of forensic accounting as a tool of fraud prevention in Nigeria. It specifically examined the influence of forensic accounting on fraud prevention and fraud detection in MDAs in Nigeria. This study is predicated on the policeman theory, white collar theory and fraud diamond theory. Primary source of data was employed through the use of questionnaire which covered the period of 10 years spanning from 2010-2010. A cross sectional Survey design was adopted. Questionnaire was used in data collection from staff of Integrated Personnel Payroll Information System and Office of the Account General of Federation. Seventy-five questionnaire were used as sample size. The study adopts descriptive statistics which involves the use of mean and standard deviation while regression analysis was adopted to test the stated hypotheses. Findings revealed that forensic accounting have significant influence on fraud detection and prevention. It was also revealed forensic litigation has no significant positive effect on recovery of funds lost to fraud. The study recommends that forensic accounting system should be allowed as a procedure for internal control systems, so as to prevent or reduce the level of income leakages, mismanagement of funds and budget padding.
Olaniyan Niyi Oladipo and Awe Solomon Olurotimi, 2021. Forensic Accounting as a Tool for Fraud Detection and Prevention in Public Sector: Moderating on MDAs. International Business Management, 15: 1-8.