Forensic Accounting as a Veritable Tool for Detection of Fraud and Its Prevention in Nigeria

Okechukwu Eucharia Amaka

Abstract


Corruption and other financial malpractices have retarded the rate of growth and economic development in Nigeria. These unhealthy situations harm Nigeria economy in no small measure. The objective of this paper is to examine whether Forensic Accounting do significantly reduces the occurrence of fraud cases in Nigeria especially in the private sector areas. The findings show that forensic Accounting is a veritable tool for fraud detection and prevention in Nigeria economy.   Forensic accounting helps or can adequately propose unique procedures that are not proposed by auditors when the risk management fraud is high. In conclusion, forensic Accounting has helped tremendously to the better understanding of risk assessment as well as the management of such risk.


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