Automated forensic auditing and fraud control in Nigeria
Abstract
"Automated forensic auditing and fraud control in Nigeria" is a critical concept in modern accounting, and our country, Nigeria, is not left out in its practice. This research aims at pointing out the rationale behind fraudulent practises as well as examining the role of automated forensic auditing in fraud control. A survey research design was adopted for this research study, and the sample size was selected using the Taro Yamane sampling technique as the data used were obtained from both primary and secondary sources. Three of the four study hypotheses that were developed were examined using the ANOVA statistical method. The analysis's key conclusions were the following: Given that it aids in fraud identification and prevention, automated forensic auditing has a substantial impact on fraud control. There are measures employed to solve the problem of insufficiently documented materials necessary for investigating suspects, as this helps foster the investigative process; there are standards set for improving on the techniques used for obtaining evidence. Conclusively, it can be said that fraud control in Nigeria cannot be done without forensic accounting; fraud detection may not be possible in Nigeria if management at different levels is not committed to doing an indebtedness study of a financial statement, i.e., having a physical check of assets and liabilities. It was recommended that the internal control system of every organisation should be strengthened through regular audits; the training of forensic auditors should be done regularly; and also, seminars should be organised to encourage the use of automated tools.
How to Cite This Article
Onah Vitalis Chukwuma, Paschal IP Okolie, Dr. Nnenne Aqueen Eneh (2022). Automated forensic auditing and fraud control in Nigeria . International Journal of Multidisciplinary Research and Growth Evaluation (IJMRGE), 3(6), 596-601.