Use of forensic accounting in prevention of frauds in bursary department, University of Jos, Nigeria

##plugins.themes.academic_pro.article.main##

Nankling Milaham
Muplang Milaham

Abstract

Introduction: Misuse of funds and fraudulent acts are the main causes of revenue leakage in both public and private sectors. They are detrimental to the success of every departments or organization. Fraud is a worrisome issue and a thing of concern to management of University of Jos.


Purpose: This study focused on the use of forensic accounting in prevention of frauds in bursary Department, University of Jos, Nigeria..


Methodology: Cross sectional research was used as a design for the study. Data was generated from both primary and secondary sources through the use of Forensic Accounting Skills Checklist for Fraud Detection (FASCFD). All the staff in the Bursary department were involved in the study. Simple percentage was used to analyze the research questions. To ensure that the items in the questionnaire are relevant and appropriate, the instrument was subjected to thorough scrutiny by an expert in forensic accounting in the Department of Accounting, University of Jos. His constructive criticisms, suggestions and recommendations were strictly adhered to in producing the final draft of the instrument.


Results: The outcomes of the study revealed that forensic accounting have significant impact on the staff’s ability to check fraudulent activities in the Bursary department of the university. It was also found that acquisition and use of forensic accounting skills can help to deter staff from committing fraudulent acts that concern funds in their possession.


Recommendations: The researchers recommended that the management of the University should ensure that there is regular forensic auditing of financial records kept by the Bursary Department. The staff of the Bursary Department in the University should be continuously trained in forensic accounting processes and procedures to enable them meet up with the global best practices in financial reports.

##plugins.themes.academic_pro.article.details##

How to Cite
Milaham, N., & Milaham, M. . (2020). Use of forensic accounting in prevention of frauds in bursary department, University of Jos, Nigeria. Journal of Educational Research in Developing Areas, 1(1), 80-87. https://doi.org/10.47434/JEREDA.1.1.2020.80

References

  1. Abdullahi, R., & Mansor, N. (2015). Fraud triangle theory and fraud diamond theory: Understanding the convergent and divergent for future research. International Journal of Academic Research in Accounting, Finance and Management Sciences, 5(4), 2.14.
  2. Abhyankar, P. (2014). Are the complexities of revenue leakages slowing your business down? http://blog.tavisca.com/travel-technology-solutions/complexities-revenue-leakages-slowing-travel-business-down/.
  3. Cressey, D. R. (1950). The criminal violation of financial trust. American Sociological Review, 15 (6), 1-15
  4. Dada, S. O., Owolabi, S. A., & Okwu, A.T. (2013). Forensic accounting: A panacea to alleviation of fraudulent practices in Nigeria. Unique Journal of Business Management Economics Research, 1(15), 96-99.
  5. Mbasiti, T. H., Jugu, Y. G., & Okwoli, A. A (2017). Forensic accounting skills and techniques: A Panacea for preventing revenue leakages in Nigerian Universities. International Journal of Management Science Research, 2 (1), 2-3.
  6. Milaham, N. S. (2019). Effects of forensic accounting skills on prevention of revenue leakages in University of Jos: A case study of Bursary Department, Unijos. A Bsc undergraduate project work. University of Jos, Nigeria.
  7. Onodi, B. E., Okafor, T. G., & Onyali, C. I. (2015). The impact of forensic investigative methods on corporate fraud deterrence in banks in Nigeria. European Journal of Accounting, Auditing and Finance 3(4), 69-85.
  8. Oseni, A. (2017). Forensic accounting and financial fraud in Nigeria: Problems and prospects. Journal of Accounting and Financial Management, 3 (1), 23-33.
  9. Oyedeji, R. O. (2015) Impacts of computerized internal control systems on fraud detection: A study of three selected Nigerian Universities: An M.sc research work, University of Lagos, Nigeria.
  10. Popoola, O., Che-Ahmed, A., Samsudin, R., Salleh, K., & Babatunde, A. (2016). Accountants’ capability requirements for fraud prevention and detection in Nigeria. International Journal of Economics and Financial Issues, 6 (4), 1-10.
  11. Rezaee, Z, Daniel, L., Micheal, H., & Alexis, S. (2016). Forensic accounting education and practice: Insights from China: Journal of Forensic and Investigation Accounting, 8 (1), 106-119.
  12. Wolfe, D. T., & Hermanson, D. R. (2004). The Fraud Diamond: Considering the Four Elements of Fraud. 74(12),38–42.