Forensic Accounting and Public Procurement Fraud Prevention: Evidence From Osun State, Nigeria
Year: 2024
Type: article
Abstract: Despite the existing controls and planning mechanisms put in place by the public sector, instancesof fraud and corruption in public procurement remain prevalent. Forensic accounting with itsfocus on detailed analysis of financial records and transaction provide the necessary precautionthat discloses hidden fraud and ensure fraud prevention. This study investigated the effect offorensic accounting in the prevention of procurement fraud within the Osun State public sector.The population of this study included 300 staffs working in the selected Osun State public sector.The sample size encompassed 150 respondents from Osun State ministries, agencies, and publictertiary institutions. The research utilized a survey design, collecting data through questionnaires.Data analysis methods used included correlation, descriptive statistics, and regression analysis.Results from this finding indicated a significant relationship between forensic accounting andpublic procurement fraud prevention evidenced by t-statistics of (23.727 and 0.000) respectively.The study concludes that forensic accounting greatly influences fraud prevention in Osun Statepublic sector. The study recommends the employment of qualified forensic accountants so as toensure the detection and prevention of public procurement fraud in the Osun State public sector.Additionally, it suggests adopting a robust forensic accounting system to uncover vulnerabilitiesin public procurement fraud prevention and detection.
Authors: Aderemi Olalere ADEBAYO, Oluwatimileyin Esther ADENLE, Ayodele David OJELEYE, AYENI AYENI
Institutions: Osun State University, Redeemer's University
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W7000678155
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