ABSTRACT

With an upsurge in procurement fraud and other financial crime in the global economy most especially in the Nigeria public sector, forensic accounting has become an emerging topic of great importance for academic, research and industries. Procurement fraud and other public sector financial crimes such as bribery and corruption serve as a bane to economic development of Nigeria that has huge earning from oil. The objective of the study is to examine role of forensic accounting and procurement fraud in Nigeria. Specifically, the study examined the reasons for, and solutions to fraudulent procurement practices in Nigeria public sector, the relevance of forensic accounting in the face of increasing fraudulent procurement practices, and the relationship between incidence of public sector procurement fraud and general public loss of confidence on the government. The survey design was used in the study with a sample size of 50, drawn from public officials of entire ministry of Works, FCT Abuja. The simple random technique was utilized in selecting the sample size, while the linear regression and Analysis of variance (ANOVA) mode were used in data analysis and the in testing the hypothesis at 5% significant level.

The findings of the study indicate that there is significant agreement between forensic accounting policies and a means to curbing the fight of procurement fraud in public sector, it also reveals that there is a need for forensic accountants in the Nigerian public sector system in order to increase public confidence. In line with the above findings, we recommend that the Institute of Chartered Accountants of Nigeria, Association of National Accountants of Nigeria and the National Universities Commission should encourage and suggest formalization and specialization in the field forensic accounting in the public sector. In addition, the government should stimulate interest in forensic accounting for monitoring and investigation of suspected procurement fraud in the public sector, and the internal control system of every ministry, agency and parastatals of the public sector must be strengthened so as to be able to check procurement fraud occurrence.

Keyword: forensic accounting, fraud, procurement, corruption, public accountant, public officials, bribery, tender.