Auditing Down Turn, Value Decline and Failures: Catalyst for Forensic Examination Development in Nigeria

Prof. Adebisi Joseph Femi, Dr. Anderson Emmanuel, ORIAKPONO, Mr. Sowunmi Bolanle Musiliu

Volume: 08 Issue: 06 2022

Abstract:

This study investigated audit failures, flaws and fictions, an impetus for the rapid growth of forensic examination in Nigeria. This study employed content analysis and indept literature review as methodology. Auditing is the examinant of the true state of a company and reporting to shareholders and the publics the true and faire state of the entity. However, most times audit processes are associated with failures, flaws and fictions due to compromise of auditors in mis-presenting the true state of the corporations in Nigeria. This has resulted into most corporate scandals in Nigeria. Again, most corporations in Nigeria are linked with fraudulent activities and embezzlement of corporate funds. These scenarios gave rise to the rapid growth of forensic examinations in Nigeria. Forensic examination discovers abuses, misrepresentation and fraud with the combine skills of accounting, criminology and forensic computing which is operationalised with litigation in court of law. Forensic examination is growing in a way which complement traditional auditing limitations and aim to mitigate fraudulent activities in Nigeria’s workplaces.

Back Download