An evaluation of forensic accounting’s role in curbing inventory fraud in Nigerian retail chains: A study of Shoprite Nigeria
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style:
- Recommended for :
- NGN 5000
Background of the Study
Retail chains in Nigeria have become a significant part of the country’s economy, with large-scale retailers like Shoprite Nigeria playing a crucial role in the retail market. However, despite the industry’s growth, inventory fraud has remained a persistent issue. Inventory fraud, which involves the misappropriation, theft, or misreporting of stock, is one of the most common types of fraud encountered by retail businesses worldwide (Okeke & Chukwu, 2023). In Nigeria, such fraudulent activities not only result in financial losses but also damage the credibility and operational efficiency of retail chains.
Forensic accounting is increasingly being employed in detecting and investigating inventory fraud in Nigerian retail chains. The techniques used by forensic accountants, such as inventory audits, data analysis, and forensic auditing, help identify discrepancies in inventory records and trace instances of fraud (Alabi & Idowu, 2023). Given the scale and complexity of operations at retail chains like Shoprite Nigeria, forensic accountants play a crucial role in identifying theft, pilferage, and other fraudulent activities related to inventory management.
While the role of forensic accounting in fraud detection is well established, there is limited research on its specific impact in the context of Nigerian retail chains. This study aims to evaluate the role of forensic accounting in curbing inventory fraud in Shoprite Nigeria, examining how forensic accounting techniques have contributed to improving inventory management and reducing fraud.
Statement of the Problem
Inventory fraud is a major issue faced by retail chains, particularly in developing economies like Nigeria. Shoprite Nigeria, despite implementing various anti-fraud measures, continues to experience challenges related to inventory theft, pilferage, and misreporting. The effectiveness of forensic accounting in detecting and preventing such fraudulent activities remains under-researched in the Nigerian context.
This study aims to investigate how forensic accounting techniques are used to identify and curb inventory fraud in Nigerian retail chains, with a particular focus on Shoprite Nigeria. The research will assess the effectiveness of forensic accounting in improving inventory control processes and reducing fraudulent activities within the retail sector.
Objectives of the Study
-
To assess the role of forensic accounting in detecting inventory fraud in Shoprite Nigeria.
-
To evaluate the impact of forensic accounting techniques on inventory management in Nigerian retail chains.
-
To recommend strategies for enhancing forensic accounting practices to curb inventory fraud in Nigerian retail chains.
Research Questions
-
How effective is forensic accounting in detecting inventory fraud in Shoprite Nigeria?
-
What forensic accounting techniques are most effective in curbing inventory fraud in Nigerian retail chains?
-
What challenges do forensic accountants face in investigating inventory fraud in Shoprite Nigeria, and how can these challenges be mitigated?
Research Hypotheses
-
Forensic accounting techniques significantly reduce inventory fraud in Shoprite Nigeria.
-
There is a positive relationship between the use of forensic accounting and improved inventory management in Nigerian retail chains.
-
Inventory fraud in Shoprite Nigeria is primarily driven by inadequate inventory control systems, which can be mitigated through forensic accounting practices.
Scope and Limitations of the Study
This study will focus on Shoprite Nigeria, assessing the role of forensic accounting in detecting and curbing inventory fraud within the company. The research will also examine the challenges faced by forensic accountants in investigating fraud and propose recommendations for improving inventory control measures. However, access to sensitive financial records and inventory data may be restricted due to privacy concerns, which may limit the scope of the analysis.
Definitions of Terms
-
Forensic Accounting: A branch of accounting that applies specialized techniques to detect and investigate financial fraud and irregularities (Alabi & Idowu, 2023).
-
Inventory Fraud: The intentional misappropriation, theft, or misreporting of inventory for personal or corporate gain (Okeke & Chukwu, 2023).
-
Retail Chain: A network of retail stores or outlets that sell products or services to consumers, often under the same brand name or ownership.
Related Project Materials
An examination of the role of microfinance in supporting rural agriculture: a case study of Accord Microfinance Bank
Background of the Study
Microfinance has long been recognized as a vital tool for empowering rural communities and promoting agricultural...
An Investigation of AI-Based Student Motivation Analytics in Federal University Gusau, Zamfara State
Background of the Study
In today’s competitive educational environment, understanding student motivation is essentia...
COINAGES IN NIGERIA ENGLISH: A SOCIOLINGUISTIC PERSPECTIVE
ABSTRACT
Nigerian English coinages have been widely investigated in different literatures ranging from studies in Socio...
ASSESSING THE EFFECTIVENESS OF SOCIAL MEDIA ENTREPRENEURSHIP IN OUR CONTEMPORARY BUSINESS SOCIETY
Abstract
The study examines the impact of social media on entrepreneurship development among users in Z...
The impact of multilateral trade policies on domestic innovation ecosystems: An evaluation in Abuja
Background of the Study
Multilateral trade policies have significant implications not only for international commerce but a...
GOVERNMENT INTERVENTION PROGRAMME AS A TOOL FOR REDUCTION OF YOUTH UNEMPLOYMENT IN KADUNA STATE:THECASE OF SURE-P 2012- 2018
ABSTRACT
The study examines government intervention programme as a tool for reducing youth unemployment in Kaduna State using descriptive...
AN ASSESSMENT OF THE INSTITUTIONAL MECHANISMS FOR DEALING WITH CORRUPTION IN THE NIGERIAN PUBLIC SERVICE, 1999-2020
ABSTRACT
One of the major challenges of governance in Nigeria is corruption especially in the public service. In response to this challen...
The influence of influencer partnership models on market expansion: A case study of a fashion brand in Port Harcourt, Nigeria
Background of the study
Influencer partnership models have become a critical tool for market expansion in the dynamic wo...
Adoption of Accounting Information System for Financial Transparency in Argungu Local Government Area
Background of the Study
Financial transparency is essential in ensuring that public funds are used effi...
An investigation of mobile social commerce on consumer interaction: A study of a lifestyle brand in Lagos, Nigeria.
Background of the study
Mobile social commerce integrates social media functionalities with o...
