The impact of forensic accounting on public governance in Nigeria: A study of the Federal Capital Territory Administration (FCTA).
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Background of the Study
Public governance in Nigeria has been affected by widespread corruption, inefficiency, and a lack of accountability within government institutions. The Federal Capital Territory Administration (FCTA) is no exception, with reports of financial mismanagement, wasteful spending, and misuse of public funds. Good governance in Nigeria’s public sector is essential for ensuring efficient service delivery, promoting transparency, and building public trust (Ibrahim & Onuoha, 2023).
Forensic accounting, as a tool for detecting and investigating financial irregularities, has proven to be highly effective in improving public governance. By applying forensic accounting techniques, auditors can trace illicit transactions, analyze financial data, and provide credible evidence to support the prosecution of corruption cases. In the case of the FCTA, forensic accounting could enhance transparency in government spending, improve financial management, and help prevent corruption and mismanagement of public funds.
This study aims to examine the impact of forensic accounting on public governance in Nigeria, with a specific focus on the FCTA. The research will explore the ways in which forensic accounting contributes to improving financial integrity, governance practices, and transparency in the management of public funds.
Statement of the Problem
Financial mismanagement and corruption within public institutions, such as the FCTA, remain a significant challenge to effective governance in Nigeria. Despite the government’s efforts to implement financial reforms and anti-corruption measures, there continues to be a lack of transparency in how public funds are managed. This study seeks to assess the impact of forensic accounting on improving public governance in Nigeria, particularly within the FCTA. By examining the role of forensic accountants in detecting fraud, analyzing financial operations, and promoting transparency, the study aims to determine whether forensic accounting can lead to better governance practices in public institutions.
Objectives of the Study
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To evaluate the impact of forensic accounting on public governance practices in the FCTA.
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To examine the effectiveness of forensic accounting in enhancing financial transparency and accountability within the FCTA.
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To identify the challenges faced by forensic accountants working within the FCTA to improve governance.
Research Questions
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How does forensic accounting impact public governance practices in the FCTA?
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How effective is forensic accounting in enhancing financial transparency and accountability within the FCTA?
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What challenges do forensic accountants face in improving public governance in the FCTA?
Research Hypotheses
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Forensic accounting positively impacts public governance practices in the FCTA.
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Forensic accounting enhances financial transparency and accountability within the FCTA.
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Forensic accountants face significant challenges in improving governance within the FCTA.
Scope and Limitations of the Study
This study will focus on the role of forensic accounting in improving public governance within the FCTA. It will assess the effectiveness of forensic accounting in enhancing transparency, preventing financial mismanagement, and improving governance practices. Limitations include potential resistance from public officials in disclosing sensitive financial information and the challenge of obtaining comprehensive data on financial transactions within government agencies.
Definitions of Terms
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Forensic Accounting: The application of accounting skills and investigative techniques to detect and investigate financial fraud and irregularities.
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Public Governance: The process of managing and overseeing public institutions, ensuring transparency, accountability, and efficient use of public resources.
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Federal Capital Territory Administration (FCTA): The administrative body responsible for overseeing the governance and management of the Federal Capital Territory (FCT) in Nigeria.
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