An evaluation of the effectiveness of forensic accounting education in Nigerian universities: A case study of Covenant University.
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Background of the Study
Forensic accounting education in Nigerian universities has gained increasing relevance due to the rising demand for professional services in fraud detection, prevention, and litigation support (Ogunlade & Ayodeji, 2023). With the prevalence of financial crimes in both the public and private sectors, forensic accountants play a crucial role in ensuring transparency, accountability, and trust within the Nigerian economy (Adebola & Olaniyan, 2024). Many Nigerian universities have introduced forensic accounting courses within their accounting programs to equip students with the necessary skills to address financial crimes in a fast-evolving environment.
Covenant University, one of Nigeria’s leading private institutions, offers a specialized forensic accounting program aimed at producing graduates equipped with the knowledge and skills to detect and investigate financial fraud (Bello & Ladi, 2024). The integration of forensic accounting education into university curricula is seen as a significant step toward enhancing the quality and expertise of future forensic accountants in Nigeria. However, despite the inclusion of forensic accounting courses, concerns remain about the effectiveness of university education in preparing students for the complexities of forensic investigations and fraud detection in real-world scenarios.
This study seeks to evaluate the effectiveness of forensic accounting education in Nigerian universities, focusing specifically on Covenant University, to understand how well these programs prepare students to face the challenges in the forensic accounting field.
Statement of the Problem
Despite the increasing integration of forensic accounting education in Nigerian universities, questions remain about the effectiveness of these programs in preparing students for the practical demands of the profession. While universities like Covenant University have made strides in offering specialized courses, there is a lack of empirical evidence evaluating the success of these programs in producing competent forensic accountants who can effectively address financial fraud and irregularities (Ogunlade & Ayodeji, 2023). This research aims to evaluate the effectiveness of forensic accounting education in Nigerian universities, particularly at Covenant University, and to identify areas where the education system can be improved to better prepare students for the workforce.
Objectives of the Study
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To evaluate the effectiveness of forensic accounting education in Nigerian universities, focusing on Covenant University.
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To assess how well forensic accounting education in Covenant University prepares students for practical applications in fraud detection and investigation.
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To identify the challenges faced by students and educators in implementing forensic accounting education in Nigerian universities.
Research Questions
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How effective is forensic accounting education in Nigerian universities, particularly Covenant University?
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How well does forensic accounting education at Covenant University prepare students for real-world forensic investigations?
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What challenges do students and educators face in the implementation of forensic accounting education at Covenant University?
Research Hypotheses
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Forensic accounting education in Nigerian universities is effective in preparing students for real-world forensic accounting practices.
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Forensic accounting education at Covenant University adequately prepares students for the practical demands of fraud detection and investigation.
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There are significant challenges in implementing forensic accounting education in Nigerian universities.
Scope and Limitations of the Study
This study will focus on the forensic accounting education program at Covenant University and evaluate its effectiveness in preparing students for careers in forensic accounting. The scope includes both the curriculum and the practical aspects of the program. Limitations include potential biases in student and faculty responses, the dynamic nature of the forensic accounting field, and the limited scope of the study to one university.
Definitions of Terms
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Forensic Accounting Education: Academic training and instruction in the techniques and principles used to investigate financial fraud, misconduct, and legal disputes.
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Covenant University: A private Christian university in Nigeria, known for offering specialized programs in accounting, including forensic accounting.
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Fraud Detection: The process of identifying fraudulent activities within an organization, often through financial analysis and investigation.
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Practical Applications: The real-world use of academic knowledge and skills in performing forensic accounting tasks, such as fraud detection and investigation.
