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Abstract
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Article Information:
Fraudulent Activities and Forensic Accounting Services of Banks in Port Harcourt, Nigeria
Onuorah Anastasia Chi-Chi and Appah Ebimobowei
Corresponding Author: Appah Ebimobowei
Submitted: November 25, 2011
Accepted: December 27, 2011
Published: April 15, 2012 |
Abstract:
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The increasing rate of frauds and financial malpractices in the Nigerian banking industry in recent
times have made financial institutions to develop means of facing these challenges with the use of forensic
accounting services. Forensic accounting is the use of accounting, auditing and investigative skills to determine
whether fraud has occurred in any organization. The study examines the effect of forensic accounting services
on fraud detection in Nigerian banks. To achieve this objective, data was collected from primary and secondary
sources. The primary data were collected with the help of a well structured questionnaire of three sections
administered to twenty four banks in Port Harcourt the capital of Rivers State and the data collected from the
questionnaires were analysed with descriptive statistics, Augmented Dickey-fuller, ordinary least square and
Granger Causality. The result reveals that the application of forensic accounting services affects the level of
fraudulent activities of banks. On the basis of this finding, the paper concludes that forensic accounting services
provide banks with the necessary tools to deter fraudulent activities. Therefore, the study suggests among others
that banks should invest on human capital development of their personnel, government and regulatory
authorities should ensure the provision of standards and guidelines to regulate forensic activities and above all
Nigerians should embrace integrity, objectivity, fairness and accountability in their day-to-day activities.
Key words: Banks, forensic accounting, fraud, fraudulent activities, internal control, Nigeria,
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Cite this Reference:
Onuorah Anastasia Chi-Chi and Appah Ebimobowei, . Fraudulent Activities and Forensic Accounting Services of Banks in Port Harcourt, Nigeria. Asian Journal of Business Management, (2): 124-129.
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ISSN (Online): 2041-8752
ISSN (Print): 2041-8744 |
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