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. 7 2024
DOI: 10.56201/jafm.v10.no7.2024.pg1.23

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Effect of Fraud Investigation and Financial Forensic on Fraud Management in Federal Government Ministries in Nigeria

OJELABI, Sunday Adeyemi

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Abstract

This study investigated the effect of fraud investigation and financial forensic on fraud management in selected federal government ministries in Nigeria. The Population for this study consisted of 1550 staff in the Office of the Auditor General of the Federation, 440 respondents were selected for this study using purposive sampling techniques across the selected Ministries, Department and Agencies (MDAs). Primary data was collected using 5-point Likert scale structured questionnaire for the study. The study employed the Partial Least Square Structural Equation Modeling (PLS-SEM) to model the regression analysis. The study found that fraud investigation has positive and significant effect on fraud management. Also, the study review that financial forensic has positive and significant effect on fraud management in selected federal government ministries in Nigeria. It was concluded that forensic accounting practices has positive and significant effect on fraud management in the under study federal government ministries in Nigeria. Based on the findings, the study recommended that organizations should ensure that adequate resources, including financial and human resources, are allocated to support fraud investigation efforts. This may involve dedicating skilled personnel, such as fraud investigators or forensic accountants, to handle fraud cases effectively. The study also recommended that Government ministries should incorporate financial forensic techniques and methodologies into their overall fraud risk management frameworks. This can involve establishing dedicated financial forensics units or teams, developing standardized procedures, and ensuring adequate resources are allocated for effective implementation.

keywords:

Fraud Investigation; Financial Forensic; Fraud Management

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