An Empirical Evaluation of Forensic Accounting Education in Nigeria Tertiary Institutions
117 Pages Posted: 22 Sep 2015 Last revised: 26 Nov 2016
Date Written: July 1, 2015
Fraud and corruption are gargantuan twin brothers that have limited the growth and infrastructure development of many nations and led many firms to the road of bankruptcy. Detecting fraud has become a high priority in the accounting profession and the failure of statutory audit to detect, prevent and reduce misappropriation of corporate fund give rise to the profile and need of forensic accounting in Nigeria. Accounting programs around the world have been revising their curricula to include courses in “fraud/forensic” accounting. This study examined the prospects and challenges of fraud and forensic accounting integration into curriculum in Nigeria tertiary institutions. The study thus involves (i) determining if inclusion of forensic accounting as a course to the existing accounting/auditing course will increase student expertise and (ii) examining the effect of administrative support in developing and integrating fraud/forensic accounting into existing accounting curriculum. To achieve this, a total of 160 copies of questionnaire were distributed among selected stakeholders in accounting education (such as, school administrators, accounting faculty members and students within the selected tertiary institutions in Nigeria). In addition, survey research method was used to obtain primary data that were collated, analyzed, summarized and interpreted accordingly, with the aid of statistical tools such as percentile average, frequency distribution and Chi-square. The study revealed that most respondents prefer fraud and forensic accounting (FFA) to be integrated into existing accounting curriculum by offering a separate FFA courses. Also, findings from the study confirmed that inclusion of forensic accounting as a course will increase student expertise, skepticism and fraud judgement. Based on the findings of this study, further study should be carried out in the process of teaching and learning how fraud and forensics accounting can be integrated. Moving away from lecture and move toward teaching approaches conveying critical skills such as, cases that teach dealing with uncertainty, analytical skills, ethical reasoning, and oral and written communication. Also, faculty must have consulting, internship, residency, or other real-world experiences that allow them to understand the changes taking place. Educators should use creative ways to involve business professionals in the educational process, and to exploit the potential of out-of class activities, such as internships and service-learning assignments.
Keywords: Fraud, Forensic Accounting, Education, Forensic Accounting Practice
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