The applicability of forensic accounting in organizations

This book sought to establish the Applicability of Forensic Accounting in Organizations as an antidote to operational challenges through literature review and cross-sectional comparison in some key sectors of an economy backed by empirical study. The final analysis showed that forensic accounting application could be a ¿complement¿ and be run concurrently with the existing practice of internal audit/inspection. The study recommended that organizations should improve on certain key functions of internal control such as segregation of duties, proper supervision of employees, improve on infrastructure (work environment, equipment and security systems), proper training and re-training of staff and adequate compensation of employment package to deter the chances of employee fraud and malpractices. The overall implication of the findings is that full scale forensic accounting application in organizations is possible and necessary to complement the existing practice of internal audit/inspection to further strengthen the internal control of the organizations, thereby, curtailing their operational challenges.