IIARD International Institute of Academic Research and Development

Journal of Accounting and Financial Management (JAFM )

E-ISSN 2504-8856
P-ISSN 2695-2211
VOL. 10 NO. 5 2024
DOI: https://doi.org/10.56201/jafm.v10.no5.2024.pg122.147

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Forensic Accounting and Financial Performance of Listed Deposit Money Banks in Nigeria

Oladutire, Elijah Oladeji, Afolabi, Matthew Babatunde, Adesanya, Oluwafemi Valentine

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Abstract

The study examined the effect of forensic accounting on financial performance of listed Deposit Money Banks (DMBS) in Nigeria, between 2012 and 2021. Specifically, the study examined the effect of risk assessment, legal service, monitoring and control on profit after tax of listed deposit money banks in Nigeria. The data for this study were obtained from secondary source. Data were collated from a sampled of 10 banks’ annual financial reports and analyzed using both descriptive statistics and VEC model granger-causality test. The study revealed that risk assessment, legal service, monitoring and control have significant effect on profit after tax of listed deposit money banks in Nigeria. Based on this finding, the study concluded that, forensic accounting has significant effect on financial performance of listed deposit money banks in Nigeria, especial when measured financial performance in terms of profit after tax. The study further established that all the variables have significant effect on profit after tax of deposit money banks in Nigeria. Since risk assessment, legal service, monitoring and control has significant effect on profit after tax of listed deposit money banks in Nigeria, therefore it was recommended that management of listed deposit money banks should develop a mechanism that can enhance forensic accounting in banking industry. Also, the management of deposit money banks should organised training programme on forensic accounting for the accountants to undergo to refresh their knowledge on the investigative aspect so that they can be in position to offer sound advice that can be useful to banks

keywords:

Risk Assessment, Legal Service, Monitoring and Control, Profit after Tax

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References:

Abdulrahman, S. (2019). Forensic accounting and fraud prevention in Nigerian public sector: A
conceptual paper. International Journal of Accounting & Finance Review, 4(2), 13-21.

Adabenege, A., (2020)/ Effect of forensic auditing on deposit bank frauds in Nigeria. a thesis
submitted to the Department of Management Sciences, School of Postgraduate Studies,
Salem University, Lokoja.

Adeniyi A. A., (2016) Forensic auditing and financial fraud in Nigerian deposit money banks
(DMBS). European Journal of Accounting, Auditing and Finance Research, 4(8), 1-19,

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