Approach to Forensic Accounting and Forensic Audit

Abstract

Forensic accounting and forensic audit are not new concepts, however, their acceptability are just gaining momentum in Nigeria because of their perceived roles in National development and transformation. This paper presents various acceptable definitions and concepts of forensics and forensic accounting, forensic audit, it discusses other related forensic terminologies, distinction and similarities between statutory audit and forensic audit, approaches/steps and techniques in forensic audit engagements and functions of a forensic auditor. Contents analysis was used in presenting facts of the paper, review of relevant literature gives and confirmed the existing knowledge and further explanations were made with respect to the forensic concepts.

Keywords: Forensics, Forensic Accounting, Forensic Audit, Auditing, Investigative Accounting

JEL Classification: M41, M47, M49