Forensic Accounting: A Preferred Technique for Modern Fraud Detection and Prevention inthe Public Sector (A Case of Nasarawa State)
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Although, the Traditional External Auditors examines financial records so as to detect and prevent fraud in organisations be it public or private, they seems to miss out from tackling the emerging modern fraud, most especially in the public sector. The study determines whether Forensic Accounting technique is preferred for fraud detection and prevention in the Nigeria public service, a case of Nasarawa State. Both primary and secondary sources of data were appropriately used. 94 questionnaires were administered to Nasarawa state civil servants who are either ANAN or ICAN members, all were returned filled. Tables and simple percentages were used to analyze the data. The statistical tool used to test hypotheses was chi square. Findings revealed that, Forensic accounting is relevant in fraud detection and prevention in the Nigeria public sector, that, the role of Forensic Accounting helps in fraud detection and prevention in the Nigeria public sector and finally that, the functions of Forensic accounting relates to external auditing hence the use of Forensic Accounting can help better in detecting and preventing fraud cases in the public sector organizations. The study recommends that various agencies fighting corruption particularly in the Nigeria public sector should engage the service of forensic accountants to compliment efforts of other professional in reducing fraudulent activities and installing fraud proof internal control system.
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