Forensic Auditing Of Related Party Transactions In Zimbabwean Banks To Avert Fraud

Abstract The study sought to evaluate the impact of periodically engaging forensic auditors to verify related party transactions in Zimbabwean banks, focusing on financial institutions listed on the ZSE. The study was motivated by the prevalence of bank failures that have been experienced in Zimbabwe between 2009 and 2013, where two banks were placed under curatorship whilst three were closed. The objectives of the study were to examine the nature and extent of related party lending frauds and the financial impact of these frauds, as well as the cost and benefit analysis of engagement of fore…