Effect of Forensic Accounting Skills and Fraud Prevention Infrastructures on the Prevention of Fraud in the Deposit Money Banks in Nigeria

Professional Accountant Perspective

Abstract

The main objective of the study was to assess the effect of forensic accounting skills and fraud prevention infrastructures on the prevention of fraud in the Deposit Money Banks (DMBs) in Nigeria. Survey research method was employed and Cronbach’s coefficient Alpha was employed to test reliability of the instrument. The population of the study stood at one hundred and eighty nine (189) and the sample size of seventy three (73) was selected using Taro Yamane formula to statistically determine the sample size which was randomly sampled. Data were collected with the use of a structured questionnaire. Analysis of data was done using simple linear regression and statistical package for social sciences (SPSS) version 25.00 to ascertain the effect of forensic accounting skills and fraud prevention infrastructure in the Deposit Money Banks. The findings revealed that there is a significant positive effect on the efficiency of forensic accounting skills and fraud prevention in the DMBs in Nigeria, therefore, it was recommended that DMBs in Nigeria should ensure that, forensic accounting skills are enhanced, top management should be neutral during forensic accounting process: all  banks Chief executives, stakeholders in collaboration with board of directors should identify strategic roles, adopt policy compliance to its  fullest, operational monitoring, build a skills-based board, build and maintain an effective governance infrastructure and appoint a competent forensic accountant as a chairperson to review their operations quarterly.