MANAGER USAGE OF FORENSIC ACCOUNTING AND FRAUD DETECTION IN LAGOS STATE

Adeolu O. Olatoye (PhD), Aderonke Grace Ojeyinka, Olubunmioluwakemi Adenuga, Temitope Abidun Olusola, Enitome Egho

Abstract


This study investigated manager usage of forensic accounting in fraud detection of Lagos State. Two research questions guided the study. A survey research design was used. The population of this study is made up of the management and staff of two ministries in the Lagos State Civil Service. These ministries are; the ministry of agriculture, and the ministry of finance and economic development. The total number of staff in these ministries is 924.The sample size was 279 employees of the chosen ministries through the use of probability sampling of random sampling technique. Researcher developed questionnaire tagged: Manager Usage of Forensic Accounting and Fraud Detection Questionnaire (MUFAFDQ) with 0.94 as reliability coefficient was used for data collection. Descriptive statistics of mean and standard deviation were used for answering research questions. The findings reveal a robust consensus among respondents on the positive impact of forensic accounting in uncovering hidden financial irregularities, enhancing the security of financial transactions, and promoting transparency and accountability. As a recommendation, the study proposes increased awareness, enhanced budget allocation, and strengthened government support for the successful implementation of forensic accounting practices in Lagos State. This research contributes to the broader understanding of financial fraud landscapes and informs stakeholders and policymakers on effective strategies to combat fraud in the region.


Keywords


Forensic-Accounting, Financial-Fraud, Accountability, Financial-Integrity, Stakeholders

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