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Research Paper | Accounting | Nigeria | Volume 8 Issue 3, March 2019

Application of Forensic Accounting: A Bridge to Audit Expectation Gap in Nigerian Deposit Money Banks in Enugu State

Agu Stephen Ikechukwu | Emma I. Okoye

Abstract: This study set out to ascertain the application of forensic accounting as a means of bridging audit expectation gap in Nigerian Deposit Money banks in Enugu State. A survey research design approach was adopted for the study. The population of this study comprises of two thousand eight hundred and sixty-five (2, 865) accountants in the selected thirteen (13) deposit money banks domicile and operational in Enugu State, Nigeria. The sample size of three hundred and fifty-one (351) accountants/respondents was drawn using Taro Yamane sampling method but by aid of simple stratified sampling technique, twenty-seven (27) respondents which represents stratum from each bank was obtained from the core-study departments-auditing, treasury and accounting departments of thirteen (13) selected banks domicile and operational in Enugu state, Nigeria. Data were analyzed using the Pearson Product Moment Correlation Coefficient. The results showed that there is significant relationship between litigation support services and expectation gap among Nigeria Deposit Money Banks. The findings further revealed that there is significant relationship between forensic investigation and expectation gap among Nigeria Deposit Money Banks. Finally, the result established also that there is significant relationship between forensic audit and expectation gap among Nigeria Deposit Money Bank. Consequent upon the findings, this study recommends among others; that all organizations must be made to subject their transactions to forensic audit and evidence before the statutory auditor. Again, that the management of the banking industry should rely and consult more on forensic engagement as a way of bridging expectation gap.

Keywords: forensic accounting, audit expectation gap, fraud investigation and litigation support service

Edition: Volume 8 Issue 3, March 2019,

Pages: 46 - 55