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 3000
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.
Related Project Materials
PROVISION AND UTILIZATION OF SCHOOL FACILITIES AND STUDENT ACADEMIC PERFORMANCE IN SECONDARY SCHOOL
ABSTRACT
The study investigated planning and utilization of school plant and students’ academic performance in sel...
TIMELY RELEASE OF RESULTS AND ACADEMIC PERFOMENCE OF STUDENTS IN BUSINESS EDUCATION
ABSTRACT
The research provides an appraisal of timely release of result and its effect on academic performance of&n...
AN ASSESSMENT OF PUBLIC RELATIONS STRATEGIES IN THE NIGERIA FINANCIAL INSTITUTIONS
ABSTRACT
The research work titled an assessment of public relations strategies in the Nigerian financia...
AN INVESTIGATION INTO THE IMPACT OF MOTIVATION FROM PARENTS ON THE ACADEMIC ACHIEVEMENT OF SECONDARY SCHOOL STUDENTS
ABSTRACT
This study was carried out on the impact of motivation from parents on the academic achievemen...
INNOVATIONS IN TEACHING ETHICS IN TECHNICAL TRAINING PROGRAMS
Abstract: Innovations in teaching ethics in technical training programs are crucial for pre...
PAINT FACTORY MAKURDI
BACKGROUND TO THE STUDY
Paint Factory or plant is an industrial site, usually consisting of buildings and machinery, or more commonly a c...
INFLUENCE OF PEER PRESSURE AND TIME MANAGEMENT ON ACADEMIC PERFORMANCE OF IN-SCHOOL ADOLESCENTS IN OREDO LOCAL GOVERNMENT AREA, BENIN CITY
EXCERPT FROM THE STUDY
Research such as Peer cluster theory (Danish, 1993) has shown that peer pressure has a much great...
THE IMPACT OF POLICY CHANGES ON VOCATIONAL EDUCATION SYSTEMS
ABSTRACT: The Impact of Policy Changes on Vocational Education Systems investigates how changes in educational policies influence the structure, de...
THE ROLE OF HUMAN RESOURCE MANAGEMENT IN HOSPITALITY INDUSTRY PERFORMANCE IN NIGERIA
ABSTRACT
This research is based on the role of human resource management in the hospitality industry with focus on its p...
EXPLORING THE BENEFITS OF EARLY CHILDHOOD EDUCATION ON COMMUNITY RESILIENCE
ABSTRACT: This study explored the Benefits of Early Childhood Education on Community Resilience. The objecti...
