Role of Forensic Accounting in Fraud Detection and Financial Transparency Within Nigeria’ Blue Economy

Abstract

This study investigated the role of forensic accounting in fraud detection and financial transparency in Nigeria blue economy. The objective was to find out how forensic accounting can aid fraud detection and enhance financial transparency in Nigeria’s blue economy. The study employed quantitative research design and data was sourced through the administration of questionnaire to 85 respondents made up of top Accountants in Nigeria Navy and top management members of the operators in Nigeria blue economy. Out of a total of 85 questionnaires distributed, 70 was returned and used for the test of hypothesis. The study employed the descriptive statistics and OLS regression for the test of hypothesis. A significant outcome indicated that there is a positive and significant effect between fraud detection and forensic accounting, financial transparency and forensic accounting meaning that application of forensic accounting in Nigeria blue economy will reduce fraudulent activities and enhance financial transparency thereby making it viable for the nation. Based on the result of the test of hypothesis, the study recommended that Nigeria government should employ forensic experts to check the activities of the operators in the blue economy.