ISSN: 2222-6990
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This study investigated the level at which fraudulent accountants are prosecuted in Nigeria public sector and the extent to which fraudulent accountants are dismissed from office. The study further seeks to know if the rate of prosecution of fraudulent public servants is equivalent to the rate of fraud in Nigeria public sector. The study was carried out in four states picked from the South-South and South-East geopolitical zones. Primary data were obtained via structured questionnaire. Survey design was embraced in the research. 102 auditors and 162 accountants from the four states were sampled. Convenient Sampling Technique (CSTQ) was embraced. Descriptive statistical techniques such as, charts was embraced in analyzing the data. Cronbach Alpha Coefficient (CAC) was embraced to test for reliability of the research instrument. The Chi-Square Technique (CSTQ) and the P.value Percent Techniques (PCPTQ) was embraced in testing the vividly stated hypotheses. The results revealed accountants involved in fraud scheme are prosecuted in the Nigerian public sector. Also, fraudulent accountants working in Nigerian public sector are dismissed from duty due to fraud. This is the indication of the percentage p-value of 58.02587667. While P value of 27.12066903888888**** show the rate of fraudulent accountants working in Nigerian public sector not dismissed from duty due to fraud. The study recommended that accounting professional bodies and accounting standards setting body nationally and globally, for instances the Institutes of Chartered Accountant of Nigeria (ICAN), ANNA, FRCN, ACCA; ACFE among others should outline active and purposeful prosecution guideline for fraudulent accountants nationally and internationally. Implementation framework should also be followed diligently and strategically.
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In-Text Citation: (Osagioduwa et al., 2022)
To Cite this Article: Osagioduwa, L. O., Ojiakor, I. P., Esenohor, E., & Odiachi, L. (2022). Fraud Schemes and Fraudulent Accountants Prosecution. International Journal of Academic Research in Business and Social Sciences, 12(1), 1143–1169.
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