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Forensic Accounting and Integrated Financial Reporting of Deposit Money Banks in Nigeria

Ugwu, Kenneth Ogbonna, T. N. Ofor PhD

Abstract

Forensic as accounting is the practice of applying accounting, auditing and investigative talents to detect and explore fraud and other financial misrepresentations in court proceedings. Forensic accounting specialization of accounting that focuses on scrutinizing financial data to find evidence of financial crimes such as fraud, embezzlement and corruption. The study examined forensic accounting and integrated financial reporting of deposit money banks in Nigeria. Specifically, the study examined the effect of risk assessment, legal service, fraud detection, monitoring and control on integrated financial reporting of 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, Pearson Correlation Matrix and Hausman Effect Test. The result of the study revealed that risk assessment, legal service, monitoring and control had positive effect on integrated financial reporting of deposit money banks in Nigeria which is statistically significant at 5% level of significance. The study concluded that forensic accounting has positive effect on integrated financial reporting of deposit money banks in Nigeria and have improved integrated financial reporting of deposit money banks in Nigeria. The study recommended that management of listed deposit money banks should establish forensic accounting department in each of their branch to enhance the investigative aspect of accounting in deposit money banks in Nigeria. Management of deposit money banks should organize training programme on forensic accounting for the accountants to undergo to refresh their knowledge on forensic accounting so that they can be in position to offer sound advice that can be useful to banks. Key Words: Forensic Accounting, Integrated Financial Reporting, Nigeria

Keywords

Forensic AccountingIntegrated Financial ReportingNigeria

References

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