THE IMPACT OF FORENSIC ACCOUNTING IN AN ORGANIZATION

THE IMPACT OF FORENSIC ACCOUNTING IN AN ORGANIZATION

CHAPTER ONE
INTRODUCTION
BACKGROUND OF THE STUDY
The growing demand for forensic accounting is a known characteristic of most companies in the world. Forensic accounting arises from the eect
and cause of fraud and technical error made by human. Forensic accounting is quite new in Nigeria as companies have realized that the service of
a forensic accountant is needed as fraud cases have substantially increased in number. Forensic accounting is the application of financial skills
and investigative mentality to unsettled issues, conducted within the context of the rules of evidence (Arokiasamy and Cristal, 2009).
Bologna and Lindquistn (1987) assert that forensic accounting as a discipline encompasses fraud knowledge, financial expertise, and a sound
knowledge and understanding of business reality and the working of the legal system. Forensic accounting may be one of the most elective and efficient
way to decrease and check accounting fraud. Presently, forensic accounting is gaining popularity worldwide. It is been taught as a major
course in many educational institutions in various countries, Howard, and Sheetz, (2006).
It has been noted that “Government spending has always been a big business, but it has become so massive today that the public through its
legislators is demanding to know whether the huge outlays of money are being spent wisely or whether they should be spent at all.” Officials and
employees who manage public sector activities are by virtue of that duty, required to render adequate accounts of their activities to the public
(Ribadu, 2005).
The incidence of fraud continues to increase across private and public sector organizations and across nations. Fraud is a universal problem as no
nations is immuned, although developing countries and their various states suer
the most pain.
Forensic accounting is said to bring significant improvement in the quality of fraud detection and prevention. This study meant to help and
remind the public sector organization of Kogi State, in the aected
ministries to design an integrated approach to preventing and controlling fraud
and corruption within the workplace through an establish service of Professional Forensic Accountants.

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THE IMPACT OF FORENSIC ACCOUNTING IN AN ORGANIZATION