Forensic Accounting in Developing Economies Problems and Prospects

University Advanced Research Journal, No. 1, July-September 2009

15 Pages Posted: 25 Mar 2011

See all articles by Emmanuel Ikechukwu Okoye

Emmanuel Ikechukwu Okoye

Nnamdi Azikiwe University - Department of Accountancy

Date Written: July 2009

Abstract

Recent cases of financial scandals particularly in the banking and insurance industry in developing economies require more professionalism in the field of accounting and finance, thus the need for forensic accounting for litigation support services and investigative functions. Therefore, the objective of this paper was to examine the concept of forensic accounting and its prospects and problems in developing economies. It was however gathered that forensic accounting is a new trend, which is yet to gain ground in developing economies, hence accountants lack the technical know-how on forensic issues. This results to lack of adequate knowledge on the subject matter. In order to enhance its development, some possible remedies were advanced. The paper therefore concluded that if forensic accounting must become a "household name" in business, its prospects must be harnessed while the challenges must be brought to bear.

Keywords: forensic accounting

Suggested Citation

Okoye, Emmanuel Ikechukwu, Forensic Accounting in Developing Economies Problems and Prospects (July 2009). University Advanced Research Journal, No. 1, July-September 2009. Available at SSRN: https://ssrn.com/abstract=1789123

Emmanuel Ikechukwu Okoye (Contact Author)

Nnamdi Azikiwe University - Department of Accountancy ( email )

Awka, Anambra 23400
Nigeria

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