Effect of Forensic Accounting on the Detection of Fraud Risk Indicators in Public Enterprises in Ondo State, Nigeria

Abstract

This study is on effect of Forensic Accounting on the Detection of Fraud Risk Indicators in Public Enterprises in Ondo State, Nigeria; the main objective of this research is to examine the effects of forensic accounting on detecting fraud risk indicators in the public enterprises in Ondo State. The study population comprised of the entire staff of the public enterprises in Ondo State with a sampled population of 238 purposively targeted two groups of respondents. The study sourced primary data through the use of questionnaire, while secondary sources were text books, published materials like journals and internet facility. The study made use of statistical package for social sciences (SPSS 21) software to present the data. The z–test research techniques were used to analyze and interpret collected data with reference to stated hypotheses. The study results revealed that Forensic Accounting does have significant effect with regards to detection of fraud risk indicators in Public Enterprises. That is, effective use of the forensic accounting could help in the detection of fraud risk indicators that often leads to continuous perpetration of fraud in the Public Enterprises in Ondo State. Therefore, the study recommend that: Government should endeavour to increase the use of forensic accounting in other government parastatals and agencies; there is need for value re-orientation training and seminar to renew the mindset of the employees towards integrity and upright living style; and establishment of risk control department and workable risk management framework will reduce fraudulent activities in the public enterprises.

Keywords: Forensic Account; Fraud Theory; Fraud Risk Indicators; Public Enterprises.

DOI: 10.7176/RJFA/10-14-06

Publication date:July 31^st 2019