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.pg24.45

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

OJELABI, Sunday Adeyemi

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Abstract

This study examined the effect of fraud investigation and fraud auditing 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, however, 440 sample size were selected using purposive sampling techniques across 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 result from the analysis indicates that fraud investigation has positive and significant effect on fraud management. Also, the result from the analysis indicates that fraud auditing has positive and significant effect on fraud management federal government ministries in Nigeria. Based on the finding the study concluded that forensic accounting practices has positive and significant effect on fraud management in the under study federal government ministries in Nigeria. The recommended that government should prioritize and allocate adequate resources to strengthen fraud investigation units or departments within the federal ministries. This may include increasing the number of trained investigators, providing them with modern investigative tools and technologies, and ensuring their independence and autonomy. The study also recommended that government should facilitate collaboration and information sharing between internal audit departments and external oversight bodies, such as anti-corruption agencies and law enforcement authorities. This can improve the detection and investigation of fraud cases that may span multiple ministries or agencies.

keywords:

Fraud Investigation; Fraud Auditing; Fraud Management

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