The role of forensic accounting in enhancing corporate governance in Nigerian banks: A case study of UBA Plc
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style:
- Recommended for :
- NGN 5000
Background of the Study
Corporate governance in Nigerian banks has faced challenges, including corruption, mismanagement, and financial irregularities, which hinder the sector’s stability and growth (Igbalajobi, 2023). The role of forensic accounting in enhancing corporate governance in Nigerian banks has become increasingly vital, especially in the wake of financial scandals and corporate collapses in recent years. Forensic accounting, which involves investigating and analyzing financial records to detect fraud, misconduct, or financial mismanagement, is seen as a key mechanism in addressing governance issues and ensuring transparency in the banking sector (Okafor & Adebayo, 2024). The United Bank for Africa (UBA) Plc, as one of the leading banks in Nigeria, has been at the forefront of adopting corporate governance frameworks that integrate forensic accounting practices to safeguard its operations against fraud and unethical conduct.
Forensic accounting techniques, such as financial statement analysis, fraud detection, and compliance audits, are crucial in promoting accountability and integrity within banking institutions. These practices help in detecting fraudulent transactions, identifying operational inefficiencies, and ensuring compliance with regulatory standards (Adewale, 2025). In the context of UBA Plc, forensic accounting has been implemented to strengthen internal controls, improve management oversight, and enhance overall corporate governance structures. However, despite these efforts, the effectiveness of forensic accounting in improving corporate governance within Nigerian banks is still a subject of debate.
The aim of this study is to assess the role of forensic accounting in enhancing corporate governance in UBA Plc and explore how these practices have contributed to mitigating governance challenges in the bank. By examining the application of forensic accounting tools in UBA Plc, the study will provide valuable insights into their impact on corporate governance and their potential to drive improvements in the Nigerian banking sector.
Statement of the Problem
Corporate governance in Nigerian banks is frequently undermined by fraudulent activities, mismanagement, and a lack of transparency, which have led to the erosion of public trust in the banking sector (Okafor & Adebayo, 2024). UBA Plc, despite its efforts to uphold high standards of corporate governance, has faced challenges in fully addressing governance issues, such as financial misreporting, embezzlement, and operational inefficiencies. The lack of effective forensic accounting measures has been identified as a key reason for the persistence of these problems. Inadequate forensic accounting practices may result in the inability to detect and address fraudulent activities, thereby exposing banks to financial risks and reputational damage.
The problem of poor corporate governance in Nigerian banks is compounded by a lack of awareness about the significance of forensic accounting and the underutilization of forensic accounting tools. This research aims to explore how forensic accounting can enhance corporate governance in Nigerian banks, specifically in UBA Plc, and address the existing governance challenges. The study will assess the role of forensic accounting in detecting fraud, improving internal controls, and fostering a culture of transparency and accountability.
Objectives of the Study
-
To evaluate the role of forensic accounting in enhancing corporate governance in UBA Plc.
-
To examine the impact of forensic accounting in improving transparency and accountability in UBA Plc.
-
To identify the challenges faced by UBA Plc in implementing forensic accounting practices to enhance corporate governance.
Research Questions
-
How does forensic accounting contribute to enhancing corporate governance in UBA Plc?
-
What is the impact of forensic accounting on transparency and accountability in UBA Plc?
-
What challenges does UBA Plc face in implementing forensic accounting practices for better corporate governance?
Research Hypotheses
-
Forensic accounting practices significantly enhance corporate governance in UBA Plc.
-
The implementation of forensic accounting practices increases transparency and accountability in UBA Plc.
-
There is a significant relationship between the challenges faced by UBA Plc and the effectiveness of forensic accounting in corporate governance.
Scope and Limitations of the Study
The study will focus on evaluating the role of forensic accounting in enhancing corporate governance in UBA Plc. It will examine how forensic accounting practices, such as fraud detection and internal auditing, contribute to the bank’s governance framework. The study will be limited to the examination of UBA Plc and may not fully capture the experiences of other banks in Nigeria.
One limitation of the study is the potential difficulty in accessing sensitive financial data from UBA Plc due to confidentiality and security concerns. Additionally, the research will rely on available reports and interviews, which may introduce biases in the findings.
Definitions of Terms
-
Forensic Accounting: The application of accounting techniques to detect and investigate fraud, financial irregularities, and misconduct (Adewale, 2025).
-
Corporate Governance: The system by which companies are directed and controlled, involving the practices and processes that ensure transparency, accountability, and ethical conduct (Igbalajobi, 2023).
-
UBA Plc: A Nigerian multinational bank, one of the largest in Africa, that provides a wide range of financial services.
-
Transparency: The quality of being open and honest in financial reporting and decision-making processes.
Related Project Materials
An Investigation of Syntactic Innovations in Nigerian Indigenous Literature: A Comparative Analysis of Traditional and Modern Narratives
Background of the Study
Nigerian indigenous literature is a repository of rich cultural heritage, reflecting traditional n...
The role of sport education in enhancing critical thinking skills among primary school students in Jalingo Local Government Area, Taraba State
Background of the Study
Critical thinking is a fundamental skill that underpins academic success and lifelong learning. In primary school...
CAUSES AND POSSIBLE SOLUTION OF INFANT MORTALITY
Abstract
The purpose of this survey is to find out the causes and possible solution of infant mortality: A case study of...
The role of vocational education in promoting agricultural mechanization in Dukku Local Government Area, Gombe State
Background of the study
In Dukku Local Government Area, agricultural mechanization is a critical factor in enhancing produ...
INFLUENCE OF TRAINING PROGRAMMES ON THE JOB PERFORMANCE OF SECONDARY SCHOOL TEACHERS
Background to the Study
To assert that teaching is the oldest profession in the modern Nigeria should attract little or...
The Effect of Exercise Programs on Cardiovascular Health in Elderly Patients in Niger State
Background of the Study
Cardiovascular diseases (CVD) are a leading cause of morbidity...
NEED FOR EFFECTIVE VENDOR SELECTION & RATING IN AN ORGANIZATION
EXCERPT FROM THE STUDY
Suppliers are an essential component of the supply chain system, imbibing effective supplier sele...
An evaluation of students' attitudes towards practical science experiments in secondary schools in Mubi North LGA, Adamawa State
Background of the Study
Practical science experiments are fundamental components of the science curriculum, offering studen...
The effect of radical Islamic preachers on youth militancy in Gwale Local Government Area, Kano State
Chapter One: Introduction
1.1 Background of the Study
Radical Islamic preachers have become infl...
A CRITICAL EVALUATION OF GENERAL SANI ABACHA FOREIGN POLICY (1993 – 1998)
Background of the study
Nigeria's foreign policy, like that of most other countries, has had achiev...
