0704-883-0675     |      dataprojectng@gmail.com

THE USEFULNESS OF FORENSIC AUDIT IN THE PREVENTION AND DETECTION OF FRAUD

  • Project Research
  • 1-5 Chapters
  • Abstract : Available
  • Table of Content: Available
  • Reference Style: APA
  • Recommended for : Student Researchers
  • NGN 5000

BACKGROUND OF THE STUDY

The incidence of fraud and misappropriation of funds in recent time poses a threat to auditing as a branch of accounting profession because of its perennial nature. This has resulted to questions as to whether auditing actually play any significant role towards the attainment of accountability and prevention of fraud especially that which is currently happening in our major or key financial institutions. Most of our financial institutions today fail to recognize that the phenomenon “fraud” can appear to be more dangerous when compared to other forms of problem like armed robbery attack which can only affect the institution within a short period of time, such may have no long term effect on their operations. However, any significant fraud committed in an institution, not only undermines or shakes up it’s financial stability but can severely affect the reputation of the institution thereby resulting to investor’s loss of confidence. Most times, the directors write off losses of fraud (including money laundering) under the general heading of “bad debt” rather than admitting that there have been a general failure to exercise or implement proper safeguards in the system of internal checks and control or managerial negligence in applying or perfecting the 2 appropriate oversight to routine business process where institutions funds and assets are at risk. In order to counter, stop and prevent the perpetration of such frauds comes forensic auditing or accounting. Forensic auditing or accounting is the specialty practice area of accounting that describes engagements that results from actual or anticipated disputes or litigation. “forensic” means “suitable for use in a court of law” and it is to that standard and potential outcomes that forensic accountants also referred to as forensic auditors or investigative auditors, often have to give expert evidence at the eventual trial of companies and institutions who have committed fraud, in a court of law.




FIND OTHER RELATED TOPICS


Related Project Materials

ASSESSMENT OF THE HYDROPOWER POTENTIAL OF GORONYO DAM IN SOKOTO STATE, NIGERIA

ABSTRACT

Energy is one commodity on which provision of goods and services depend. Its availability and consumption rate is an economic in...

Read more
The Effect of Whistleblowing Policies on Fraud Detection in Nigerian Public Institutions: A Case Study of EFCC

Background of the Study

Whistleblowing policies have become a pivotal tool in combating fraud in public...

Read more
The Effects of Social Media on Religious Harmony in Mubi North Local Government Area, Adamawa State

Chapter One: Introduction

1.1 Background of the Study

PRODUCTION OF DISINFECTANT

ABSTRACT

Disinfectants are antimicrobial agents that are applied to non-living objects to destroy micro-organisms that a...

Read more
INFLUENCE OF COST CONTROL PRACTICES ON THE COST PERFORMANCE OF CONSTRUCTION PROJECTS IN ABUJA-FCT, NIGERIA

ABSTRACT

The Nigerian Construction Industry (NCI) faces numerous cost-related challenges that have in some cases increas...

Read more
The Impact of Self-Medication on Antibiotic Resistance in Jigawa State

Background of the Study
Self-medication, the practice of using drugs without professional medical guidance, has become a co...

Read more
ROLE OF THE LIBRARY AS AN INFORMATION RESOURCE IN PROMOTING HUMAN RIGHTS

ABSTRACT

This research studies the role of the library as an information resource in promoting human rights in Nigeria,...

Read more
THE EFFECTS OF NIGERIA PIDGIN ENGLISH ON STUDENTS OF TERTIARY INSTITUTION

ABSTRACT

The aim of this study focused   on the effects of Nigerian Pidgin English in university c...

Read more
HUMAN RESOURCE MANAGEMENT AND JOB SATISFACTION IN NIGERIA CIVIL SERVICE COMMISSION

    1. STATEMENT OF THE PROBLEM

Public sector organizations in Nigeria faced pro...

Read more
An assessment of hand hygiene practices and their impact on hospital-acquired infections in Zamfara State

Background of the Study
Hospital-acquired infections (HAIs) are a major public health concern worldwide, contributing to increased morbidity...

Read more
Share this page with your friends




whatsapp