Nandini N S, Ajay R
firstname.lastname@example.org , email@example.com
Nandini N S1*, Ajay R2
Faculty of Management and Commerce, Ramaiah University of Applied Science, Gnanagangothri Campus, MSR Nagar, Bengaluru - 560054, Karnataka, India.
Volume - 12,
Issue - 2,
Year - 2021
This study is on impact of forensic audit towards investigation and prevention frauds in any financial performances or corporate companies. The incessant financial Fraud resulting to corporate collapse and the failure of the statutory audit to detect and prevent fraudulent activities which had led to the impoverishment of investors had given rise to need for forensic auditor. In view of the above this paper considers the impacts of forensic auditor on corporate governance. The study was a theoretical research which considered the roles of forensic auditors in combating fraudulent activities, distinction of forensic auditor and statutory auditor, characteristic of forensic auditor and impact of forensic auditor on corporate governance. Data generated were analyzed using charts, graphs, tables and regression. Our findings revealed that forensic audit has a significant negative impact on number of fraud cases, number of staff involved in fraudulent activities and data collected with the sample size of 125 respondents through the well-structured questionnaires from the Auditors, Accountants, Managers, Professional Accountants and Accounting Knowledgeable persons with this data we have used SPSS Methodology to find the Regression, Correlation Coefficient, Descriptive statistics, Reliability test, Anova, Factor analysis. From studies carried out this paper is forensic auditors having improved management accountability, strengthened external auditor’s independence and assisting audit committee members in carrying out their oversight function by providing them assurance on internal audit report have impacted positively to corporate governance, thereby reducing corporate failure and impoverishment of investors.
Cite this article:
Nandini N S, Ajay R. A Study on impact of Forensic Audit towards Investigation and Prevention of Frauds. Asian Journal of Management. 2021; 12(2):186-2. doi: 10.52711/2321-5763.2021.00028
Nandini N S, Ajay R. A Study on impact of Forensic Audit towards Investigation and Prevention of Frauds. Asian Journal of Management. 2021; 12(2):186-2. doi: 10.52711/2321-5763.2021.00028 Available on: https://ajmjournal.com/AbstractView.aspx?PID=2021-12-2-15
1. A. O. Enofe, P. Omagbon and F. I. Ehigiator (2017) Department of Accounting, Faculty of Management Sciences, University of Benin P.M.B. 1154, Benin City, Edo State, Nigeria, Email: paomagbon81@ yahoo.com.com.
2. Abdi, A.G., 2017. The impact of forensic audit services on fraud detection among commercial banks in Kenya. Unpublished Master of Science in Finance Project, School of Business, University of Nairobi.
3. Abdul-Baki, Z., 2019. The role of accounting in conflicts Resolution. Managerial Auditing Journal.
4. Akenbor, C.O. and Ironkwe, U., 2014. Forensic auditing techniques and fraudulent practices of public institutions in Nigeria. Journal of Modern Accounting and Auditing, 10(4).
5. Alao, A.A., 2016. Forensic auditing and financial fraud in Nigerian deposit money banks (DMBs). European Journal of Accounting, Auditing and Finance Research, 4(8), pp.1-19.
6. Alao, B.B. and Odum, A.N., 2019. Fighting Fraud in Nigeria Banking Industry. An Examination of the Impact of Forensic Auditing. International Journal of Academic Multidisciplinary Research (IJAMR) ISSN, pp.2643-9670.
7. Amah, K.C., 2018. Forensic Auditing and Productivity of Nigeria Civil Service. Federal University Otuoke Library.
8. Bhasin, M.L., 2015. Menace of frauds in the Indian banking industry: an empirical study. Australian Journal of Business and Management Research, 4(12).
9. Chep'chieng, Z.C., 2014. Investigation of The Factors Affecting Adoption of Forensic Auditing In Government Institutions (Doctoral dissertation, Kisii University).
10. Cletus O. Akenbor Federal University, Otuoke, Nigeria Journal of Modern Accounting and Auditing, ISSN 1548-6583 April 2014
11. Dahli, G. (2016). Forensic Accounting and Auditing: Compared and Contrasted to Traditional Accounting and Auditing. American Journal of Business Education 4th Quarter Vol. 1 No. 2
12. Daniel Orsaa Gbegi Federal University of Kashere, Kashere, Nigeria Journal of Modern Accounting and Auditing, November 2018, Vol. 14, No. 11, 583-596
13. Eiya, O. and Otalor, J.I., 2013. Forensic accounting as a tool for fighting financial crime in Nigeria. Research Journal of Finance and Accounting, 4(6), pp.18-25.
14. Enofe, A.O., Omagbon, P. and Ehigiator, F.I., 2015. Forensic audit and corporate fraud. International Journal of Economics and Business Management, 1(7), pp.12-24.
15. Eyisi A. S. and Ezuwore C. N. (2015) Accountancy Department, Faculty of Business Administration, University of Nigeria, Enugu campus. E-mail: firstname.lastname@example.org Research Journal of Finance and Accounting.