Fraud experts noted that it is essential to obtain clear knowledge on the trends of fraudulent activities in all business circle through the measurement and observing the compliance level of organizations. This has made it possible through the utilization of specialized investigative skills which gives an inquiry by assisting in the protection and recovery of embezzled assets through civil action. Therefore, this study examines the effect of forensic accounting knowledge on fraud prevention among listed companies in Nigeria. Questionnaires were administered to 177 Auditors of the listed companies out of which 105 auditors responded. The paper also used the multiple regression model to test the hypotheses formulated. Furthermore, the finding suggests that forensic accounting knowledge and complexity are significantly related with fraud prevention. It is therefore recommended that auditing staff of these companies should have more forensic accounting knowledge so as to serve as a tool to deter and prevent fraudulent activities in companies and Nigeria at large.

1. `
Influence of Forensic Accounting Practices on Fraud Prevention among Listed Companies in Nigeria
JAAT
Influence of Forensic Accounting Practices on Fraud
Prevention among Listed Companies in Nigeria
1Lawan Yahaya, 2Naziru Suleiman, 3Magaji Abba*,
1,2,3
Department of Accounting & Finance, Abubakar Tafawa Balewa University, Bauchi, Nigeria
Fraud experts noted that it is essential to obtain clear knowledge on the trends of fraudulent
activities in all business circle through the measurement and observing the compliance level of
organizations. This has made it possible through the utilization of specialized investigative skills
which gives an inquiry by assisting in the protection and recovery of embezzled assets through
civil action. Therefore, this study examines the effect of forensic accounting knowledge on fraud
prevention among listed companies in Nigeria. Questionnaires were administered to 177 Auditors
of the listed companies out of which 105 auditors responded. The paper also used the multiple
regression model to test the hypotheses formulated. Furthermore, the finding suggests that
forensic accounting knowledge and complexity are significantly related with fraud prevention. It
is therefore recommended that auditing staff of these companies should have more forensic
accounting knowledge so as to serve as a tool to deter and prevent fraudulent activities in
companies and Nigeria at large.
Keywords: Forensic Accounting, Auditing, Fraud Prevention, complexity, Knowledge
INTRODUCTION
The world in trying to be free from the frequent rise in
white-collar crimes by the introduction of various anti
crimes agencies to fight financial crimes, irregularities and
other fraudulent activities in all sectors of the economy
(Simeunovic, Grubor & Ristic 2016; Temitope 2016;
Sujatha & Gomez 2015). The detection and evidences on
it are comparatively more obscure and difficult (Gottschalk
2010). The fraud detection necessitated and equipping
auditors with forensic skills, particularly over the recent
years (DiGabriele 2009; Ojo 2012; Rezaee, Daniel,
Michael & Alexis 2016).
The collapse of companies like the Enron case were
seriously a case of concern to many stakeholders
(Kleinmanm & Anandarajan, 2011; Eyisi & Agbaeze 2014;
Rezaee el al 2016). However, authorities responsible for
these had made effort for the promulgation of laws that
would assist auditors and accountants to detect fraud
within the organisations (DiGabriele, 2011; Sujatha &
Gomez 2015). These laws for examples are the Sarbanes-
Oxley Act 2002 and later was promulgated such as the
Public Company Accounting Oversight Board and as well
as the Accounting standards (DiGabriele 2008;
Simeunovic et al 2016).
However, forensic accounting practices comprises of
formal use, techniques for collecting, legal processes,
analysing, and court presentation of fact and reports from
expert (Temitope, Muturi & Nasleku 2016; Simeunovic el
at 2016). These processes mentioned requires
authentication of the fact, specialized techniques and
analysis of data collected for dispute resolution. Therefore,
this paper examines the effect of forensic accounting on
fraud prevention among listed companies in Nigeria. Fraud
along-side with the white-collar crimes which was
identified in the 19th and 20th century inter alia corruption,
money laundering, tax evasion, externalization currency
(foreign) to mention just few have become a parasite,
causing weaknesses to the economic strengths of Nigeria,
particularly in the business sector (Baron 2006; Claire &
Jude 2016). Even the developed countries have
experienced a financial turbulence and uncertainties
caused by fraud.
*Corresponding Author: Magaji Abba, Department of
Accounting & Finance, Abubakar Tafawa Balewa University,
Bauchi, Nigeria. Email: magajiabba@yahoo.com
Co-Authors Email: 1
lyahaya@atbu.edu.ng,
2
nazeersuleiman@yahoo.com
Journal of Accounting, Auditing and Taxation
Vol. 2(1), pp. 008-014, June, 2018. © www.premierpublishers.org, ISSN: 2401-1720
Research Article

2. `
Influence of Forensic Accounting Practices on Fraud Prevention among Listed Companies in Nigeria
Yahaya et al. 009
The issues on the corporate world’ scandals, audit
fraternity and the society at large; hence, the erosion of
investors’ confidence in the financial markets (Levanti,
2001; Alao 2016). Among other possible causes of
liquidation in companies today are inadequacy of risk
management systems and diversion of the core
businesses to speculative activities. Companies perceived
the services of Forensic accounting as expensive that only
the big once can afford it (Eyisi & Agbaeze 2014).
Therefore, these companies would not want to law court
instead will rather decide to have their matter resolve
outside court to avoid bad corporate image.
LITERATURE REVIEW
The activities and understanding of business reality and
the kind of legal system in which it operates. Literatures
have shown that; there is dimension shift from accountants
focusing on fraud detection to wider forensic activities
(Cohen, Crain & Sanders 1996; Baron 2006; Wells 2003;
Crumbley, Heitger & Smith 2009). Forensic accounting is
that part of accounting which gives justifiable analysis in
law court and will be a forum of debate and ultimately
disputes resolution (Leech & Dowling 2006). It comprises
of specialized investigative accounting skills and body of
knowledge to established a suitable report on proceedings
(DiGabriele 2009).
Eze (2015) noted that Forensic accounting, involve
investigative accounting and litigation that have to do with
any wrong doing found during or after activities involved in
organizations. Dispute or litigation anticipated are part of a
specialized areas of accounting particularly the forensic
(Baron 2006). Forensic accounting can be explain as a
guide use in law court or procedures undergo during
investigation of fraud or any misappropriation (Crumbley,
Heitger & Smith 2005; Razaee et al 2016). According to
Albrecht, Albrecht and Albrecht (2006) reported that the
identification of the causes of fraud is very difficult. The
Authors added that the trend of fraud these days are
characterized by tedious web conspiracy which deviate
from the genesis of the problems. It was established that
fraud is characterized by illegal act and irregularities
intentionally perpetrated by theses culprits (DiGabriele,
2009).
Auditors with forensic accounting knowledge and skills
have important role to deter fraudulent activities in
companies especially organized business institution like
the listed companies. The ability of the companies to have
skilled and qualify auditors with forensic knowledge would
prevent fraud in the environment.
In addition, these companies prefer the use of computer
for software for their activities. These companies normally
keep on to the use of electronic paper work to facilitate
documentation and other process within and outside the
environment. However, big companies or organizations
deployed the use of robots computerised gadgets to
facilitate their activities and avoid irregularities (Leech &
Dowling 2006; Eyisi & Agbaeze 2014).
Even small audit companies are encouraged to adopt
modern technology such as electronic paper work.
Information Technology usage could reduce the time
auditors spend performing computerised, clerical tasks
and improve the quality of audit judgments by structuring
audit decision processes (Manson, McCartney & Sherer
1997; Modugu & Anyaduba 2013). These Information and
Technology gadgets of the 21st century appears to
increase audit quality and productivity through audit
automation, eliminating certain audit procedures, and
enhancing knowledge and information sharing capabilities
(Ojo 2012; Eliezer Balogun 2015). The combine
knowledge of forensic accounting and information
technology would go a long way to prevent fraud in most
listed companies.
Mohay, Anderson, Collie, De Vel & McKemmish (2003)
contend that a different characteristic of forensic
(computerized) have to be with application of technology
which with due regard to the requirements of the law. If not
adhere to, it can result in digital evidence being ruled as
inadmissible or as tainted. When presented the evidence
in law court with regard to computer forensic audit the court
only recognizes forensic technology evidences which
comprises of authenticity, completeness, reliability and
believability.
Forensic investigation involves large categories of careful
monitoring, assessments and evaluations of financial data
to avoid or detect irregularities (Efosa & Kingsley 2016;
Alao 2016). When it comes to most real, accurate process
of investigation and implies to most risky and delicate
crime scenarios calling for forensics to take charge of
every possible steps (Claire & Jude 2016; Temitope 2016).
This leads to crime resolutions and further comprehensive
research territory of forensic studies. Technology brings
specialized security with computer as a form of defense
against unauthorized and malicious intrusion and
computer forensics allows for identification of incidents,
collating records of evidences as there has been different
types of computer forensic which extends to records
management (Eze 2015; Sujatha & Gomez 2015;
Temitope et al 2016).
Fraud prevention and detection in organization has been
found to be curtailed through the mean of sound internal
control systems (Adebisi, Mathew and Emmanuel 2016;
Wells, 2008). Internal control system can be effective
through the establishment of knowledge, research and
development. The basic constant training of staff
contributes a lot in having a sound internal control system
in companies. Okafor & Andrew (2016) found that
knowledge of forensic accounting had been a means of
effective internal control system thereby reducing the fraud
in companies.

3. `
Influence of Forensic Accounting Practices on Fraud Prevention among Listed Companies in Nigeria
J. Acc. Aud. Tax. 010
However, Barra (2010) and Ozili (2018) stressed that
forensic accounting knowledge driven prevent fraud in
organization. Moyes and Baker (2003) noted that
auditors’ high skilled knowledge of forensic accounting is
most likely to detect and prevent fraud in companies. Also,
in another study Bierstaker, Burnaby and Hass (2004)
found that fraud detection and prevention tools is as a
result of effective and knowledgeable internal auditor.
The authors went ahead to report that the familiar used
tools in preventing fraud in companies are operational
audit, reference supervision on staff, internal control
review and development. The uncommon mechanism
used to as describe by the study are software and digital
analysis. ACFE (2008) stressed that operational tools such
as internal control and internal audit has been found to
detect and prevent fraud.
Nevertheless, literatures have found that most mechanism
used by organization to detect and prevent fraud in their
domain are said to be informal (ACFE, 2008; Drew and
Drew, 2010). There are arguments that prevention of fraud
in not as a result of sound internal control system.
However, a study conducted by Muslimat and Hamid
(2012) found that employees of the internal audit unit of a
government owned hospital do not have basic skills and
knowledge of fraud prevention which prone to danger of
fraudulent activities.
The study further suggests that some internal audit staff in
the hospital tried to prevent fraud on their own. This has
showed that if these staff can be educated with forensic
accounting knowledge they can be a mechanism for the
detection and prevention of fraud in the establishment.
Moreover, accounting studies indicated that sound internal
control system can prevent fraud (Nwaiwu & Aaron 2018;
Barra and Griggs, 2007). It is therefore, paramount to have
knowledge of forensic accounting skill. On this note the
study hypothesized that:
H1: Forensic Accounting knowledge has significant
relationship with Fraud Prevention.
H2: Forensic Accounting Complexity has significant
relationship with Fraud Prevention.
These hypotheses formulated and conceptual model are
being depicted in the figure below.
Conceptual Framework
Figure 1: Conceptual Framework
In the conceptual model presented above, the paper
discussed on the variables in the study and their
relationship which comprises of the independents and the
dependent variables. The dependent is the Fraud
prevention while the independents are Forensic
Accounting knowledge and Forensic Accounting
Complexity. The two sub independent variables have
relationship with the dependent variable.
Theoretical Framework
The theoretical framework of this study is based on the
theory of fraud triangle and fraud diamond. The two
underpinned theories are geared towards comprehensive
explanation on fraud and all the ways in which perpetrators
used in achieving their objectives (Enofe, Okpako, and
Atube, 2013). FBI (2014) define fraud as any means of
deceit and misused of trust by the perpetrators, it is also
found to be criminal act of deliberately violation of the law
and polices with the intention of achieving financial
benefits (Bansal, Suman, and Sonepat, 2014). These
theories focus on the reasons of frauds in companies and
other establishments. They provide ways of understanding
fraud in companies. The theory of fraud triangle comprises
of three cardinal point which are perceived pressure,
perceived opportunity and rationalization that was
developed by (Cressey 1953). Cressey (1953) stressed
that these three factors or element of fraud triangle are the
motive behind committing fraud in any establishment. The
perceived pressure is as a result of financial needs of
individuals that would not be shared. The second element
which is the perceived opportunity is when an individual
has access to fund or a custodian of fund and misused the
opportunity. The last element is the rationalization which
has to do with the personal justifications of what an
individual does in the act.
Pressure
Opportunity Rationalization
Figure 2: Fraud Triangle
Source: Cressey (1953)
The above model depicted the three element of Cressy
(1953) triangle fraud theory. The top pic of the model
represents the perceived pressure and the two-bottom
level of the model represent the perceived opportunity and
rationalization (Wells 2011 cited in Abdullahi and Mansor,
2015). This theory of fraud triangle has been expanded to
fraud diamond theory.
The expansion theory of fraud triangle is known as fraud
diamond theory which was introduced by Wolfe and
Hermanson (2004). The authors introduced a fourth
variable which known as capabilities, in their opinion fraud
Forensic
Knowledge
Forensic
Complexity
Fraud
Prevention
H1
H2

4. `
Influence of Forensic Accounting Practices on Fraud Prevention among Listed Companies in Nigeria
Yahaya et al. 011
occurrences in most cases happened when individual
used their right capabilities to commit fraud (Wolfe and
Hermanson, 2004). These individual normally would have
the tricks and skills of to commit fraud in organisations and
another establishment. Wolfe and Hermanson (2004) cited
in Abdullahi and Mansor (2015), found that perceived
opportunity give way in committing fraud while perceived
pressure (incentive) and rationalization lead perpetrators
to commit fraud. However, capability allows an individual
to identify the way an opportunity and used it often.
Opportunity
Incentive Capability
Rationalization
Figure 3: The Fraud Diamond
Source: Wolfe and Hermanson (2004)
RESEARCH METHODOLOGY
The research design adopted in this paper is the survey
method with a quest to assess forensic accounting
knowledge and complexity on fraud prevention among the
listed companies in Nigeria The research work was
conducted to covers the appropriate area of study. The
questionnaire was sent to one hundred and seventy-seven
(177) Auditors of the listed companies drawn from each
industry in Nigerian out of which 105 auditors responded.
The data collected were analysed using multiple
regression analysis. Hence, the hypotheses were tested
from the regression outcome. The five-point likert scale
was used to measure the degree to which respondents
agree or disagree with the statement provided in the
questionnaire, given thus: strongly disagree; disagree;
undecided; agree and strongly agree.
Reliability Test
In assessing the reliability of the data all the variables’
internal consistency was properly scrutinized with the aid
of a Cronbach’s alpha coefficients. Having examined each
fraud prevention variable’s underlying dimensions. Field
(2013) stressed that reliability measurement of scale
produce consistent results when the same entities are
measured under different conditions.
Therefore, the internal consistencies calculated have
exceeded the recommended threshold of 0.70. In a
nutshell, the FAK has a reliability value of 0.751, FAC has
0.887and FRP has a value of 0.732 which are above the
recommended value of Hair, Black, Babin, Anderson &
Tatham (2005). The table below show presents.
Table: 1 Reliability Test
variables Code Number
of items
Alpha
Coefficient
Forensic
Accounting
Knowledge
FAK1 7 0.751
Forensic
Accounting
Complexity
FAC2 6 0.887
Fraud Prevention FRP 6 0.732
RESULTS AND DISCUSSION
The result shows in table below depicts the significant
relationship between the one construct which is the fraud
prevention and the predictors (independent construct).
The tests of this regression assumptions were conducted
to indicates the finding by testing the regression
assumptions and the outcomes as provided, indicate fraud
prevention as (p<0.05), forensic accounting knowledge
(p<0.05). Under Standardized Coefficients, each variable
has beta coefficients of 0.419 and -0.027 respectively.
From the analysis, result indicates that forensic accounting
knowledge has positive and significant effect on fraud
prevention where it is, 0.419, meaning that there is 42% of
the independent variable explaining the fraud prevention
in listed companies and also it has (p < 0.05) that is
significant. Considering the following Hypotheses:
Hypothesis 1
H1: Forensic Accounting knowledge has significant
relationship with fraud prevention.
This hypothesis is therefore accepted. Which is consistent
with the studies of (Razaee et al 2016; Adebisi at al 2016;
Claire & Jude 2016)
Furthermore, forensic accounting complexity is negative
and insignificant where it is -0.27 > 0.05.
Meaning that, it has no significant relationship on fraud
prevention, considering the following Hypotheses:
Hypothesis 2
H2: Forensic Accounting Complexity has significant
relationship with fraud prevention.
This indicated that the hypothesis is negatively related and
insignificant, therefore rejecting the hypothesis. This
contradict the studies of (Nwaiwu & Aaron 2018; Eliezer &
Balogun 2015).
In the discussion, it is found the Knowledge on Forensic
accounting is significantly related to the fraud prevention
among listed companies. This also manifest that the
forensic accounting knowledge is magnitude enough to
impact on the fraud prevention among listed companies in
Nigeria. However, the Forensic accounting complexity

5. `
Influence of Forensic Accounting Practices on Fraud Prevention among Listed Companies in Nigeria
J. Acc. Aud. Tax. 012
shows a negative insignificant relationship with the fraud
prevention which depicted of too much complexities that
relate to forensic accounting in preventing fraud in listed
companies. The result is shown below:
Table 2: Regression model
Model
Unstandardized
Coefficients
Standardized
Coefficients
T Sig.B
Std.
Error Beta
(Constant) 6.189 1.925 3.215 .000
Forensic
accounting
knowledge .609 .197 .419 3.096 .003
Forensic
accounting
complexity -.067 .382 -.027 -.176 .861
a; Dependent variable of fraud Prevention
Rsquare = 0.176
R = 0.419
F change = 9.583
Sig. F change = 0.0035.
CONCLUSION AND RECOMMENDATION
The practice of auditing and investigation in forensics
accounting includes formal use, techniques for collecting,
legal processes, analyzing, and court presentation of fact
and reports from expert. These processes mentioned
requires authentication of the fact, specialized techniques
and analysis of data collected for dispute resolution. This
Forensic procedure conducted is a form of auditing which
deter illegal activities and irregularities in financial
accounts and also involves investigative accounting and
litigation.
It is an area of accounting that anticipated issues as it is
responsible for the utilization of specialized investigative
skills. This specialized area of accounting also finds an
inquiry by assisting in the protection and recovery of
embezzled assets through civil action. Forensic
accounting involves is resolving existing litigation, which
concern with primary issue of calculating economic
damage.
Fraud investigation is very important but shows very
challenging task in daily practice, Fraud prevention is
therefore considered as a measuring yard stick to
establish level of free companies’ sound internal control
system. Fraud experts noted that it is essential to obtain
clear view on trends of fraudulent activities in the business
circle through constants following and measuring of
organizations compliance level and keep a proper and
internal control system. Forensic accounting currently
being understood by accountants, as an elaborated
activity unto itself by which is capable to counter fraud.
The study therefore, recommended that stake holders,
authorities or government should impose the use forensic
accounting and auditing in ever organisation and other
agencies to deter corruption in all sectors of the economy.
The paper also recommends for further study that areas to
research on knowledge of Forensic accounting in
Ministries and department of government agencies and
also a different methodology to be use.
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Accepted 18 June 2018
Citation: Yahaya L, Suleiman N, Abba M (2018). Influence
of Forensic Accounting Practices on Fraud Prevention
among Listed Companies in Nigeria. Journal of
Accounting, Auditing and Taxation, 2(1): 008-014.
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