IMPACT OF FORENSIC AUDIT ON FRAUDULENT PRACTICES IN AN ORGANIZATION (A STUDY OF EEDC ENUGU)
Abstract
ABSTRACT
This study examined the impact of forensic audit on fraudulent practices in an organization. A study of EEDC Enugu. The inability of organizations to employ forensic audit as a tool in the prevention of fraud had generally impacted on their growth. A sample size of 160 was drawn from a population of 265 staff and closed ended questionnaires distributed to them. Data were also collected from both secondary and primary sources. Hypotheses formulated were tested using the chi-square test statistics. The study reveals that there is a significant relationship between fraud and business failure, it also found a significant relationship between frequent occurrence of fraud and investors/customers loss of confidence in business organizations, and a need to employ forensic audit as a strategy for minimizing fraud in businesses. In general, the study recommended that forensic auditors should be vigilant during their audit work as existence of fraud can lead to the collapse of businesses.
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