FORENSIC ACCOUNTING AND FRAUD PREVENTION: EVIDENCE FROM UBA PLC

This study investigated forensic accounting and fraud prevention within Nigerian commercial banks, with a focus on United Bank for Africa (UBA) Plc. Specifically, the study examined the effect of internal auditing, fraud risk assessment, and financial statement analysis on fraud prevention in UBA Plc. An ex-post facto research design was adopted, and both primary and secondary data were employed. Data were sourced from UBA Plc’s annual reports, complemented with structured questionnaires and direct observations. Using descriptive statistics and regression analysis, the findings revealed that internal auditing, fraud risk assessment, and financial statement analysis each have significant positive effects on fraud prevention, while their combined application explained approximately 76% of the variation in fraud prevention within UBA Plc. The study concluded that forensic accounting is indispensable in fraud-prone environments such as Nigeria, as it strengthens internal controls, ensures transparency, and reduces opportunities for fraudulent activities. It was therefore recommended that banks should reinforce their forensic accounting frameworks by integrating robust audit processes, continuous fraud risk assessments, and advanced financial statement analysis, supported by modern forensic data analytics and staff training.