The Impact of Big Data Analytics in Forensic Auditing and Prevention and Detection of Fraud and Cyber Crimes in the Nigerian Public Sector

Abstract

This study examines, how big data technique can be applied in forensic accounting to improve fraud and cybercrime detection in Nigeria with the view to suggest empirical and technological-based contemporary techniques in order to effectively detect and prevent frauds and corruption, as well as to proffer policy recommendations for confronting the scourge of fraud and corruption. Being a survey research design, the study adopt quantitative data collection and analyses using structured questionnaires distributed to a sample purposively selected forensic auditors from EFCC office Kano Command. Data obtained from the survey was analyzed using descriptive statistics, regression analysis and other relevant econometrics. The findings, revealed that Big Data Technologies has a positive and significant impact in conduct of forensic auditing in the Nigerian public sector. Similarly, it has positive and significant impact on Forensic Accounting and Prevention and Detection of Fraud and Cybercrimes in the Nigerian Public Sector. The study has social, economic and technological implication as follows: Social benefit include bringing awareness, to both public and private organizations of the impact of big data technology in forensic accounting. Economically will contribute to realizing the potentials of science and technology to meet the most pressing challenges of sustainable economic growth and development through early detection of fraud and corrupt practices by forensic accountant in EFCC. Moreover, technological benefits comprises bridging the gap between traditional methods of detecting fraud/cybercrimes by proposing improved ways of its detection using contemporary technology (i.e. Big data). It is recommended that Government shall consider these findings of empirical based knowledge of causes, nature and the extent of fraud/cybercrimes and its implications on the national growth during its subsequent policies formulations.