Forensic Accounting and Fraud Management in Government Owned Parastatal in Rivers State

Abstract

Fraudulent practices among banks are major challenges facing the development of the industry. The federal government has been making several efforts in tackling these dreadful menaces by setting up many anti-corruption institutions to reduce cases of fraud and other activity of financial and economic crimes but the efforts seemed not to have yielded the desire results or have not been effective. This has put accounting professional bodies into a new perception and paradigm that go beyond statutory audit. The objective of this study focus on forensic accounting and fraud management, evidence from Nigeria, primary sources of data were appropriately used. 572 questionnaires were administered. The Researchers Use SPSS 21 to test the hypothesis to determine the F-value. The findings are that Forensic accounting significantly influences fraud detection and management. The researchers recommended that trained experts like the Professional Forensic Accountants should conduct the investigation, where there is evidence of fraud, appropriate disciplinary action in accordance with the Provision of rules should be implemented, and the restructuring of corruption agencies by the government for better performance. These agencies should have the will power and courage to perform optimally.