The Impact of Forensic Auditing on Financial Accountability in Nigerian Government Agencies: A Case Study of NNPC
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Background of the Study
Forensic auditing has emerged as a specialized field within auditing, designed to detect, investigate, and prevent financial irregularities and fraud. Its application in the public sector is critical for ensuring financial accountability, particularly in resource-rich countries like Nigeria, where corruption and mismanagement have historically plagued government agencies (Adebayo & Yusuf, 2023).
The Nigerian National Petroleum Corporation (NNPC), as the nation’s leading revenue-generating agency, has been a focal point for allegations of financial mismanagement and corruption. To address these issues, forensic auditing has been introduced to scrutinize financial activities and enhance accountability (Eze & Lawal, 2024). By identifying fraudulent activities and providing evidence for prosecution, forensic auditing aims to restore public confidence in the management of Nigeria’s oil wealth.
This study evaluates the impact of forensic auditing on financial accountability within the NNPC, focusing on its effectiveness in detecting fraud, enhancing transparency, and ensuring compliance with financial regulations.
Statement of the Problem
Despite efforts to reform the NNPC, financial irregularities, and corruption remain persistent challenges, undermining public trust and the agency’s contribution to national development. Traditional audit mechanisms have proven inadequate in detecting and addressing complex fraudulent schemes within the organization (Ibrahim & Okonkwo, 2025).
The introduction of forensic auditing represents a targeted approach to address these deficiencies. However, its effectiveness in improving financial accountability at the NNPC has not been comprehensively evaluated. This study seeks to fill this gap by assessing how forensic auditing influences transparency, fraud detection, and resource management within the NNPC.
Objectives of the Study
- To assess the effectiveness of forensic auditing in detecting financial irregularities in the NNPC.
- To evaluate the impact of forensic auditing on financial accountability within the NNPC.
- To identify the challenges associated with implementing forensic auditing in the NNPC.
Research Questions
- How effective is forensic auditing in detecting financial irregularities in the NNPC?
- What is the impact of forensic auditing on financial accountability within the NNPC?
- What challenges hinder the implementation of forensic auditing in the NNPC?
Research Hypotheses
- Forensic auditing significantly enhances the detection of financial irregularities in the NNPC.
- Forensic auditing has a significant impact on financial accountability within the NNPC.
- Challenges associated with forensic auditing negatively affect its implementation in the NNPC.
Scope and Limitations of the Study
This study focuses on the impact of forensic auditing on financial accountability within the NNPC, covering the period from 2019 to 2024. It examines forensic audit reports, financial statements, and fraud cases within the corporation. Limitations may include restricted access to forensic audit data and potential non-cooperation from respondents due to the sensitive nature of the subject.
Definition of Terms
- Forensic Auditing: The application of auditing techniques to investigate and prevent fraud and financial irregularities.
- Financial Accountability: The obligation of an organization to ensure that its financial resources are managed responsibly and transparently.
- Fraud Detection: The process of identifying and investigating fraudulent activities within an organization.
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