FORENSIC ACCOUNTING AND FINANCIAL STATEMENT FRAUD MINIMIZATION OF MANUFACTURING COMPANIES IN NIGERIA

Abstract

The main purpose of this study was to ascertain the relationship between forensic accounting and financial statement fraud minimization in food and beverages manufacturing companies in Nigeria. From the findings, this study concluded that forensic investigation practices are very important for the minimization of financial statement fraud in food and beverages manufacturing companies, this is because the prospect of forensic investigation acts as deterrence for fraudulent activities. Thus, when staff are aware that forensic accountants will be called upon on any suspicion of fraud, they will be more cautious and avoid activities that will place them at the centre of a financial fraud investigation in the organization. Similarly, forensic investigative practices are important factor in the minimization of fraud as fear of being embroiled in fraud investigation and prosecution will deter certain individuals from getting involved in fraudulent activities especially where the organization makes it a point to ensure that the prosecution of fraudulent staff are publicized to deter others in the future.