Forensic Accounting As a Veritable Tool for Efficient Management of State Owned Public Sectors in Ebonyi State: The Accountants Perspective (Published)
The study was carried out to find out the uses of forensic accounting as well as the basic skills required for the use of forensic accounting in state owned public sectors in Ebonyi state, Nigeria. Two research questions and hypotheses guided the study. The population of the study comprised of One hundred and fifty six Accountants working in the state ministries in Abakaliki urban. A sample size of sixty two (62) accountants was used. Out of sixty two (62) copies of the questionnaire distributed only sixty copies (60) were returned. The study found out the uses as calculation of economic damage, determining the level of bankruptcy or insolvency for an organization, act as a guide in re-organization of organizational financial activities, used to check on security fraud, used for valuation of a business, etc. The basic skills required for the use of forensic accounting in public sectors include: knowledge of preparing financial statements, ability to compute key financial ratios, being informed on the types of audit evidence etc. The researchers conclude that forensic accounting is essential in every organization especially public sectors and recommended that tertiary institutions offering accountancy and accounting education should ensure that forensic accounting is offered not just in the post graduate level but equally at the under graduate level and to curb the incessant cases of corruption in public sectors in Nigeria, forensic accounting must be professionally practiced in all organizations.
Keywords: Accounting, Fraud, and public sector, forensic