Empirical Assessment of Factors Influencing Intention to use Forensic Accounting Services in Nigeria

Abstract

The broad objective of this study examined factors influencing organizations’ intentions to use forensic accounting services in fraud detection and prevention in Nigeria. Two hundred (200) respondents from some selected quoted financial and non- financial companies were randomly selected. Structured four -scale Likert-type questionnaire was used as the research instrument to elicit responses from the respondents who were mainly internal auditors, chief accountants, executive directors and managers. The data were analyzed using ordinary least squares multiple regression method. Findings made indicate that the perceived benefits and perceived risks of using forensic accounting services were largely significant at influencing organizations’ intention to use forensic accounting in fraud detection and prevention in the Nigeria context. Awareness, attitude and stakeholders’ pressures do not significantly influence organizations’ intention to use forensic accounting in fraud detection and prevention in the Nigeria context. It is therefore recommended that government and regulatory authorities need to ensure the provision of standards and guidelines to regulate forensic activities and above all, Nigerians should embrace integrity, objectivity, fairness and accountability in their day-to-day activities particularly in the public sector.