Forensic Auditing and Fraud Management: A Study of Pabod Breweries Limited, Port Harcourt, Nigeria
Emmanuel Isaac John
*
Department of Accounting and Finance, Arthur Jarvis University, Akpabuyo, Cross River State, Nigeria.
Deborah Chiemeka Ebilite
Department of Accounting and Finance, Arthur Jarvis University, Akpabuyo, Cross River State, Nigeria.
Ogochukwu N. Udoye
Department of Banking and Finance, Nnamdi Azikiwe University, Awka, Anambra State, Nigeria.
*Author to whom correspondence should be addressed.
Abstract
This paper scrutinized the nexus between forensic auditing and fraud management using Pabod Breweries, Port Harcourt, Nigeria as a case study. The primary data employed in the study were sourced from staff of the Pabod Breweries using questionnaires. Percentage and Pearson correlation were the techniques of analysis used in the study. The results of the study showed a significant positive relationship between forensic auditing and detection of fraud in the private sector. Also, the results showed that there is the existence of a significant positive relationship between forensic auditing and fraud prevention in the private sector. Thus, the study concluded that forensic auditing does significantly detect and prevent the occurrence of fraud cases in the private sector. Therefore, the paper recommended that the management of companies should ensure that forensic audits are carried out in their establishments at least once in a year, even if it is not statutorily required, in order to detect fraudulent practices in their organisation. In addition, forensic audit report should be implemented accordingly by the audited organisation in order to prevent fraud and avert white-collar crime in the organisation.
Keywords: Forensic auditing, fraud detection, fraud prevention, Nigeria