Forensic Accounting as Tool to Confronting Economic and Financial Crimes in Nigeria
Ani Thomas Maduabuchi
Department of Accounting Education
Atcoi College of Education, Enugu
ABSTRACT:
The increasing rate of economic and financial crimes in Nigerian economy has made corporate organizations to develop means of facing these challenges with the use of forensic accounting services. The objective of this study is to discuss how forensic accounting can facilitate the blockage to economic and financial crimes in Nigeria. The research utilized mainly secondary data sources adopted content analysis of various library materials and internet sources. There has been a dramatic increase in financial crime across the globe especially in developing economies. The
researchers consider forensic accounting as instrument to combat economic and financial crime in Nigeria. This can be achieved through functional consistency use of the anti-graft agencies to curb perpetrators of crimes. Crimes classified as economic and financial remain major problem facing the Nigeria’s economy and the citizenries and many believe that forensic accounting is the only panacea in Nigeria. we recommend that the Nigerian Accounting Association which comprises of Institute of Chartered Accountants of Nigeria and Association of National Accountants of Nigeria should as well as charted institute of forensic and investigation auditors and recruit them at the strategic positions. In addition, the government should stimulate interest in forensic accounting for monitoring and investigation of suspected corruption cases.
Keywords: Forensic accounting; Economic and financial crimes; Nigeria
