IMPACT OF FORENSIC ACCOUNTING EXPERT CONSULTATION ON EMPLOYEE FRAUD DETECTION IN THE NIGERIAN DEPOSIT MONEY BANKS

Banking industry in Nigeria has been experiencing prevalence of fraud for over a decade which has continued to induce loss of public confidence, pose going concern threat and cause adverse effect on shareholders wealth, requiring improved statutory and regulatory frameworks governing both the industry and the accounting practice. This study examines the relationship between forensic accounting expert consultation and employee fraud detection in the Nigerian DMBs. The research approach to this study is time series non-experimental research design. Data were collected through secondary source which were analyzed using Ordinary Least Square (OLS) regression, to examine the relationship that exists among research variables in addition to the test of hypothesis. Findings from the study revealed that, there is a positive and significant relationship between the forensic expert consultation expenditures and the number of detected fraud cases traceable to bank employees in the Nigeria. Consequently, the study recommends, among other policy options for more training and accreditation of forensic accountants and the need for government to create an enabling environment to accomplish this due to dearth of forensic accounting experts needed to tackle the menace of fraud and corruption in Nigeria.