The Effectiveness of Forensic Accounting in Combating Embezzlement in Nigerian State-Owned Enterprises: A Study of the Power Holding Company of Nigeria (PHCN)
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style:
- Recommended for :
- NGN 5000
Background of the Study
State-owned enterprises (SOEs) are crucial to the economic development and infrastructure of many countries, including Nigeria. However, these organizations are often subject to financial mismanagement, embezzlement, and corruption. In Nigeria, the Power Holding Company of Nigeria (PHCN) was a key player in the provision of electricity before its privatization. Despite efforts to improve the sector, PHCN was frequently criticized for widespread financial mismanagement and embezzlement of public funds.
Forensic accounting has emerged as an important tool in the fight against financial irregularities in SOEs, with a focus on uncovering fraud, mismanagement, and other unethical financial practices. By applying investigative techniques such as data analysis, auditing, and financial profiling, forensic accountants can detect embezzlement and provide evidence to take corrective actions. This study examines the role and effectiveness of forensic accounting in combating embezzlement within PHCN, assessing how forensic accounting practices have been utilized to reduce financial misconduct in the organization.
Statement of the Problem
Embezzlement and financial mismanagement have been significant challenges in Nigerian state-owned enterprises, including PHCN. Despite the implementation of financial controls and reforms, embezzlement continues to affect the financial health and public trust in PHCN. The role of forensic accounting in detecting and mitigating embezzlement in PHCN has not been adequately explored. This study seeks to evaluate the effectiveness of forensic accounting in reducing embezzlement and improving financial accountability in PHCN.
Objectives of the Study
-
To examine the role of forensic accounting in detecting and combating embezzlement in PHCN.
-
To assess the effectiveness of forensic accounting techniques in preventing and addressing embezzlement in PHCN.
-
To identify the challenges PHCN faces in implementing forensic accounting practices to combat embezzlement.
Research Questions
-
How does forensic accounting contribute to detecting and combating embezzlement in PHCN?
-
What forensic accounting techniques are employed in PHCN to prevent and address embezzlement?
-
What challenges does PHCN face in implementing forensic accounting practices to combat embezzlement?
Research Hypotheses
-
Forensic accounting significantly reduces embezzlement in PHCN.
-
Forensic accounting techniques are effective in detecting and preventing embezzlement in PHCN.
-
PHCN faces challenges in fully implementing forensic accounting practices to combat embezzlement.
Scope and Limitations of the Study
This study will focus on PHCN (prior to its privatization) and the application of forensic accounting in combating embezzlement. The research will cover the period from 2010 to 2015, examining forensic accounting techniques used during this time. Limitations may include difficulty accessing internal financial records from PHCN and limited documentation on embezzlement cases that were detected by forensic accountants.
Definitions of Terms
-
Forensic Accounting: The use of investigative accounting methods to uncover and address financial fraud, embezzlement, and financial mismanagement.
-
Embezzlement: The act of stealing or misappropriating funds entrusted to one’s care, typically by employees or officials of an organization.
-
State-Owned Enterprise (SOE): A business or organization that is owned and operated by a government, such as PHCN, which was responsible for managing electricity supply in Nigeria.
Related Project Materials
THE ROLE OF STOCK MARKET IN THE GROWTH OF THE NIGERIAN ECONOMY
Abstract
This study investigates the short run effect, long run effect and causal relationship between stock market and economic growth i...
An examination of the role of narrative consistency in advertising campaigns on customer trust: Evidence from a retail brand in Lagos, Nigeria
Background of the study
Narrative consistency in advertising campaigns is emerging as a critical factor in establishing...
A Comparative Analysis of Semantic Features in Nigerian Political Campaigns: A Study of Election Manifestos
Background of the Study
Election manifestos are crucial documents that outline political agendas and campaign promises, an...
The Effect of Nurses’ Attitudes on Parent Satisfaction in Pediatric Wards in Bauchi State
Background of the Study
Nurses play a crucial role in the care and recovery of pediatric patients, no...
The impact of urbanization on educational access in Ikorodu Local Government Area, Lagos State
Background of the Study
Urbanization significantly reshapes the educational landscape, influencing access to quality educa...
IMPACT OF COMMUNITY CONTRIBUTIONS ON THE DELIVERY OF ISLAMIC STUDIES CURRICULUM IN SENIOR SECONDARY SCHOOLS IN KANO STATE, NIGERIA
ABSTRACT
This study assessed the Impact of Community Contributions on the Delivery of Islamic Studies Curriculum in Senior Secondary Scho...
AN INVESTIGATION INTO SS2 STUDENTS DIFFICULTY IN LEARNING ECOLOGICAL ASPECTS OF BIOLOGY IN IKWO LGA OF EBONYI STATE
BACKGROUND OF THE STUDY
Biology is a branch of science that studies life. According to Maduabum (2006),...
THE IMPACT OF SCHOOL LIBRARIES ON THE DEVELOPMENT OF INDEPENDENT LEARNING SKILLS IN SECONDARY SCHOOLS IN NASARAWA LOCAL GOVERNMENT AREA, NASARAWA STATE
Background of the Study:
School libraries are critical in fostering independent learning skills, which are essential in cul...
An investigation into the effect of speech therapy on students with communication disorders in Suleja LGA, Niger State
Background of the Study
Speech therapy plays an essential role in addressing communication disorders among students, significantly imp...
An Evaluation of the Role of Blockchain Technology in Auditing Practices: A Study of Nigerian Banks
Background of the Study
Blockchain technology has emerged as a transformative tool for auditing, offeri...
