AN ASSESSMENT OF FORENSIC ACCOUNTING TECHNIQUES IN THE PREVENTION OF REVENUE LEAKAGES IN NIGERIAN FEDERAL UNIVERSITIES

Abstract

Purpose: Forensic accounting reflects the application of investigative and analytical techniques for the purpose of resolving fraudulent practices. The purpose of the research was to examine the extent at which Forensic Accounting Techniques serves as a panacea for preventing Revenue Leakages in Federal Universities in Nigeria.  

Methodology: Primary data were collected with the aid of research questionnaire and used in this study. The sample size of 238 respondents was determined from a census of targeted EFCC, internal audit staff of selected Nigerian Federal Universities. This study applied a statistical tool, which described and evaluated the relationships between Forensic accounting techniques and revenue leakages.

Findings: The methodology shows that Forensic accounting data analysis techniques have positive effects on revenue leakages in Nigerian Federal Universities. This implies that a forensic data analysis technique can help in uncovering leakages of revenue in Nigerian Federal Universities. The implication is that when these technologies are applied, there would be drastic reduction in revenue leakages. From the findings, it was concluded that the application of forensic accounting techniques will help in preventing revenue leakages in Nigerian Federal Universities.

Unique Contribution to Theory, Practice and Policy: On the basis of these findings and conclusion, it was recommended that forensic accounting data analysis and technology techniques should be employed in Nigerian Federal Universities to help them curb revenue leakages in the system. That will help to discover and analyse patterns of fraudulent activities and develop sorts of digital tools that would be found helpful in fighting economic and financial crimes within the system.

Keywords: Forensic Accounting, Revenue Leakages, Frauds, Forensic Accounting Technologies