Abstract: THE EFFECT OF FORENSIC ACCOUNTING IN PUBLIC PROCUREMENT FRAUD INVESTIGATIONS
This research examines the impact of forensic accounting on investigating public procurement fraud, focusing on its effectiveness in detecting and preventing fraudulent activities. The objectives are to assess the methodologies used by forensic accountants, evaluate the success rate of their investigations, and identify challenges encountered. A survey research design was adopted, with data collected from 320 forensic accountants and procurement officials in Lagos. The sample size was determined using Taro Yamane's formula, ensuring significant representation. The reliability coefficient score of the survey was 0.87. Findings reveal that forensic accounting significantly improves the detection of procurement fraud by employing thorough investigative techniques and advanced data analytics. However, challenges such as limited access to procurement records and the complexity of procurement processes can hinder investigations. Recommendations include improving data access and transparency in procurement processes and investing in advanced forensic tools and training to enhance investigative capabilities.
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