EFFECT OF FORENSIC ACCOUNTING SERVICES ON UNETHICAL PRACTICES IN NIGERIAN BANKING INDUSTRY

Arzizeh Tiesieh Tapang 1 & John Uzoma Ihendinihu 2
1*Department of Accounting, College of Management Sciences, Michael Okpara University of
Agriculture, Umudike, P.M.B. 7267 Umuahia, Abia State – Nigeria, E-mail arzizeh@gmail.com,
Tel: +2348032737920
2* Department of Accounting, College of Management Sciences, Michael Okpara University of
Agriculture, Umudike. P.M.B. 7267 Umuahia, Abia State – Nigeria, E-mail:
ihendinihu.john@gmail.com, Tel: +2348035013011

ABSTRACT
The study focused on forensic accounting services and unethical practices in Nigerian banking
industry. Unethical practices such as cheque fraud, credit card fraud, mortgage fraud and tax fraud
has evidently become some of the most problematic issues faced by the Nigerian banking industry.
However, the underutilization of the forensic accounting services could not be surmounted with the
extant methods used to combat these unethical practices. The involvement of the banking industry in
Nigeria has brought about loss of confidence among the banking public and impeded the going
concern status of several banks in the country. The study made used of a cross sectional survey
research design were data were collected through questionnaire cross the banks and analyzed using
the ordinary least square technique with aid of STATA. The result revealed that forensic accounting
services have a significant effect on cheque fraud, credit card fraud and mortgage fraud.
Conclusively, Based on the findings of the study, the researcher s deduced that banks in Nigeria have
adopted some forensic accounting services which include litigation support, fraud investigation, and
expert consultancy. The study further more ascertains that forensic accounting service has a
significant effect on unethical practices. A bank wishing to grow with minimized level of unethical
practice must therefore put into place sufficient resources to be able to properly practice forensic
accounting services in its different departments. Just as the banks use other means of reducing the
occurrence of unethical practices, forensic accounting services can provide confidence in financial
statements as it has a significant effect on unethical practices. The study recommended that in order
to sustain effective operations in the bank, unethical practices must be monitored, detected and
prevented in the banking sector with forensic accounting services being a tool that can be used to aid
this.
Keywords: Cheque Fraud, Credit Card Fraud, Forensic Accounting Services, Mortgage Fraud,
Unethical Practices

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https://afra.org.ng/wp-content/uploads/2022/03/pro2018008.pdf

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