An Evaluation of Forensic Accounting in Resolving Financial Conflicts During Mergers in Nigeria: A Study of Access and Diamond Bank Merger
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Background of the Study
Mergers and acquisitions (M&A) are complex processes that often involve significant financial restructuring, negotiation, and due diligence. In Nigeria, forensic accounting has become an essential tool in resolving financial conflicts during mergers, as it helps identify hidden liabilities, financial discrepancies, and potential fraud that may affect the success of the merger. The merger of Access Bank and Diamond Bank is a prime example of how forensic accounting played a critical role in identifying and resolving financial issues that could have undermined the success of the merger.
Forensic accountants conduct thorough investigations to uncover any discrepancies in financial statements, assess the true value of assets, and identify liabilities that may not have been disclosed by the merging entities. In the case of Access and Diamond Bank, forensic accountants were involved in ensuring that all financial information was accurate and transparent, thereby preventing future disputes and ensuring that the merged entity was financially stable. This study aims to evaluate how forensic accounting practices were applied during the Access and Diamond Bank merger and their impact on resolving financial conflicts.
Statement of the Problem
The merger between Access Bank and Diamond Bank involved complex financial negotiations and restructuring. Financial conflicts arising from discrepancies in financial reporting and hidden liabilities could have jeopardized the success of the merger. While forensic accounting is increasingly recognized for its role in resolving financial conflicts, there is limited research on its specific impact during mergers in Nigeria, particularly in the context of the Access and Diamond Bank merger. This study seeks to fill this gap by evaluating the role of forensic accounting in resolving financial conflicts during the merger process.
Objectives of the Study
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To evaluate the role of forensic accounting in resolving financial conflicts during the Access and Diamond Bank merger.
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To assess the effectiveness of forensic accounting in ensuring financial transparency during the merger process.
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To provide recommendations for improving forensic accounting practices in future mergers and acquisitions in Nigeria.
Research Questions
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How did forensic accounting help resolve financial conflicts during the Access and Diamond Bank merger?
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What was the impact of forensic accounting on ensuring financial transparency during the merger process?
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How can forensic accounting practices be improved to better handle financial conflicts in future mergers in Nigeria?
Research Hypotheses
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Forensic accounting significantly contributed to resolving financial conflicts during the Access and Diamond Bank merger.
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Forensic accounting played a critical role in ensuring financial transparency during the merger process.
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Forensic accounting practices can be improved to more effectively handle financial conflicts in future mergers in Nigeria.
Scope and Limitations of the Study
This study will focus on the role of forensic accounting in resolving financial conflicts during the Access and Diamond Bank merger. It will assess the impact of forensic accounting on financial transparency and conflict resolution. The limitations of the study include potential challenges in obtaining detailed financial data from the banks involved due to confidentiality agreements.
Definitions of Terms
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Forensic Accounting: The use of accounting techniques and investigative skills to detect fraud, discrepancies, and financial misconduct.
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Mergers and Acquisitions: The process of combining two or more companies into a single entity, often involving financial restructuring.
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Financial Conflicts: Disagreements or issues related to financial matters, such as hidden liabilities, discrepancies in financial statements, or misvalued assets.
Access Bank and Diamond Bank Merger: The acquisition of Diamond Bank by Access Bank, which involved complex financial negotiations and forensic accounting intervention
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