Effect of Forensic Accounting Skills on Fraud Management of Selected Federal Ministries, Departments and Agencies (MDAs) in Nigeria
NGEREHO-A, Tamunonimim Anipiriworima
Department of Oil and Gas Accounting, College of Public Sector Accounting, ANAN University, Kwall, Plateau State, Nigeria.
ENEKWE Chinedu Innocent *
Department of Financial Management, College of Private Sector Accounting, ANAN University Kwall, Plateau State, Nigeria.
FREEMAN Ngatuwa Tumba
Department of Auditing and Forensic Accounting, College of Private Sector Accounting, ANAN University Kwall, Plateau State, Nigeria.
*Author to whom correspondence should be addressed.
Abstract
Aim: The growing level of fraud in Nigeria has created the need for the use of forensic accounting skills in fraud management. Many scholars have attempted to analyze the forensic accounting skills on fraud management in Nigeria to assess their nature and degree of significance using different measurements with mixed results, which necessitated this study on the effect of forensic accounting skills on the fraud management of selected federal ministries, departments, and agencies in Nigeria.
Methodology: Forensic accounting skills are an independent variable proxied by accounting and auditing skills and forensic investigation skills, while fraud management is a dependent variable. The study used primary sources of data, a cross-sectional research design, a quantitative research approach, and a structured closed-ended questionnaire with five-point Likert scale options. A stratified sampling technique was used for the selection of the four federal ministries, departments, and agencies in Nigeria. The study was underpinned by both profession theory and fraud pentagon theory. The SPSS version 23 software statistical package was used for the coding of the questionnaire and data analysis for running both descriptive statistics, correlation, and multiple regression analysis.
Results: The regression results indicated that accounting and auditing skills and forensic investigation skills have a positive and significant effect on the fraud management. This implies that any unit increase in both accounting and auditing skills and forensic investigation skills will also result in a unit increase in the fraud management of federal ministries, departments, and agencies in Nigeria.
Recommendations: The study recommended that the government should provide avenues for training forensic accounting experts. Through the effective performance of forensic accountants in the country, the Nigerian government can restore its integrity both locally and internationally.
Keywords: Accounting skills, auditing skills, forensic investigation skills, forensic accounting, fraud management, regressions