Forensic Audit Practices and Fraud Prevention in Public Institutions in Nigeria

The purpose of this study was to determine the effect of forensic audit practices on fraud prevention in public institutions in Nigeria. The work was anchored on institutional theory and survey research design was adopted given that the primary source of data was obtained from structured questionnaire. The population of this study comprised of 250 accountants, auditors, finance officers, cashiers, treasurers, bursars and all other persons that deal with finance in Nigerian public institutions. The sample size determined using the Taro Yamani formula was 154. The study findings showed that evidence collection had a negative and significant effect on management oversight. Risk assessment has a positive and significant effect on management oversight as well on segregation of duties. It was thus concluded that forensic audit practices have a significant effect on fraud prevention in public institutions in Nigeria. The study recommended that public institutions in Nigeria should adopt automated audit systems and streamlined documentation processes to balance evidence gathering with effective managerial supervision, and also public institutions should regularly update risk assessment frameworks and train management personnel to enhance their ability to identify, monitor, and address emerging risks.