Effect of Forensic Accounting Application on Financial Crime Detection in Deposit Money Banks in Anambra State

International Journal of Advanced Engineering and Management Research, 2(6), 2350-2379, 2017

30 Pages Posted: 21 Feb 2018

See all articles by Nestor Amahalu

Nestor Amahalu

Nnamdi Azikiwe University - Department of Accountancy

Ezechukwu Beatrice

Federal Polytechnic, Oko

Obi Chinyere

University of Nigeria Enugu Campus

Date Written: 2017

Abstract

This research set out to find out the effect of forensic accounting application on the detection of financial crime in deposit money deposit banks in Anambra State. The survey approach was adopted for this study. Out of a population of 5 key officials in 11 commercial banks, which gives a total of 55 key officials, a sample size of 35 was selected using Taro Yamane formula. Three hypotheses were formulated and tested in the course of the research. The three hypotheses were tested using the t-test statistics. The study revealed that forensic accounting is effective in reducing financial crimes. Upon the findings, the study recommended among others that auditors should be required to introduce some elements of forensic accounting techniques into the average financial statement audit to increase the effectiveness of the audit, there be certain standard methodology and procedures to guide forensic accounting assignments and to act as a reference for practice reviews especially in cases of dispute with client.

Keywords: Forensic Accounting, Financial Crime, Data Mining, Rogue Trading

JEL Classification: M41, M42, M43

Suggested Citation

Amahalu, Nestor and Beatrice, Ezechukwu and Obi, Juliet, Effect of Forensic Accounting Application on Financial Crime Detection in Deposit Money Banks in Anambra State (2017). International Journal of Advanced Engineering and Management Research, 2(6), 2350-2379, 2017. Available at SSRN: https://ssrn.com/abstract=3125610

Nestor Amahalu (Contact Author)

Nnamdi Azikiwe University - Department of Accountancy ( email )

Awka, Anambra 23400
Nigeria
+2348063393668 (Phone)

Ezechukwu Beatrice

Federal Polytechnic, Oko ( email )

PMB 021 Aguata
Anambra +234
Nigeria
08033887708 (Phone)

Juliet Obi

University of Nigeria Enugu Campus ( email )

Department of Accountancy
Box 15540, Enugu
Enugu, NC Enugu 234
Nigeria

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