LASU JOURNAL OF BUSINESS REVIEW (LASUJBR)

EFFECT OF FORENSIC ACCOUNTING ON FRAUD MANAGEMENT IN NIGERIA PUBLIC SERVICE

(A STUDY OF OGUN STATE BOARD OF INTERNAL REVENUE)

IDOWU, khadijah A. (Ph.D.)

Department of Accounting,

Lagos State University, Ojo-Lagos.

Email: idowuadeola2@yahoo.com

Phone number: 08023039633

OLAGUNJU ,Adebayo

Dept. of Accounting,

Osun State University,Osun

&

ATERE, AKINSOGO

atereakinsogo2015@gmail.com

Phone number: 08029413415

Department of Accountancy, Abraham Adesanya Polytechnic.

Ijebu-Igbo, Ogun Sate.

ABSTRACT

Nowadays, the development in the Information Communication Technology (ICT) world has prompted the emergence of many innovations such as electronic banking, e-business and many more, and these has also equipped the fraudsters to conceive in e-fraud, e-corruption, e-financial scandals etc. With this; it is almost obvious that the Traditional Accountant/Auditor may not be able to meet up with the level of sophistication of the financial crimes. Therefore the alarming increase in the number of fraudulent activities in Nigeria requires the invitation of forensic accounting services. The purpose of this study is to examine the imperatives of forensic accounting in the public service (A study of Ogun State Board of Internal Revenue). In an effort to accomplish these objectives, primary and secondary sources of data were appropriately used. 200 questionnaires were administered to the staff of four selected department in Ogun State Board of Internal Revenue, out of which 184 were filled and returned. The hypotheses formulated were tested for significant difference with Analysis of Variance (ANOVA) through the use of SPSS. Among the findings was that the use of Forensic Accounting do significantly reduces the occurrence of fraud cases in the public service. The research work therefore recommended that Government Ministries, Department and Agencies should take advantage of the modern accounting and auditing software to enhance efficiency and smooth operation of Forensic Accounting in different government parastatals.

Keywords: Forensic Accounting, Fraud Management, Litigation, investigation, Public Service.

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