The Usefulness Of Forensic Audit In The Prevention And Detection Of Fraud

  CHAPTER ONEINTRODUCTION 1.1 BACKGROUND OF THE STUDY The incidence of fraud and misappropriation of funds in recent time poses a threat to auditing as a branch of accounting profession because of its perennial nature. This has resulted to questions as to whether auditing actually play any significant role towards the attainment of accountability and prevention of fraud especially that which is currently happening in our major or key financial institutions. Most of our financial institutions today fail to recognize that the phenomenon “fraud” can appear to be more dangerous when compared to …