Forensic Accounting and Fraud Detection in the Nigerian Private Sector: a Case Study of Zenith Bank of Nigeria

This study examines the role of forensic accounting in fraud detection and prevention in the Nigerian private sector, with a specific focus on Zenith Bank of Nigeria. The objectives of the study include ascertaining the extent of forensic accounting application, determining its effectiveness, identifying challenges, and assessing the level of awareness of forensic accounting concepts within the organization. The study aims to contribute to the existing body of knowledge on forensic accounting and fraud detection, providing insights for stakeholders in the banking industry. Survey research is regarded as one in which a group of people items are studied by collecting analyzing data from only a few or items considered to be representative of the entire group. The essence of the research design is to structure the investigation in such a way as to identify the variables and their relationships. A well-articulated design is desirable for the objective of data collection that will assist to address the research questions as well as test the stated hypotheses. The study found that the correlation coefficient of 86.9 percent between forensic accounting and fraud detection, the correlation coefficient of 69.7 percent between effectiveness of forensic accounting and fraud detection, a correlation coefficient of 91.6 percent on the awareness of forensic accounting and fraud prevention and detection while the correlation coefficient between effectiveness of the awareness of forensic accounting and the application in the Zenith Bank Plc is 59.9 percent from the above analysis we conclude that forensic accounting have significant impact in fraud prevention and detection in Nigerian corporate organization.