Fraud detection using forensic accounting in Zimbabwe banks: A case of Nedbank.
- Author
- Zvirambwa, Unity
- Title
- Fraud detection using forensic accounting in Zimbabwe banks: A case of Nedbank.
- Abstract
- The main objective of this research was to assess the impacts of forensic accounting on fraud detection in Zimbabwe’s banking sector. In to achieve the researcher had to identify the major causes of fraud in the Zimbabwe’s banking sector; to determine the effectiveness of forensic accounting on fraud detection in Zimbabwe’s banking sector and to evaluate the solutions to that can be implemented to cab fraud in Zimbabwe’s banking sector. A descriptive approach 27 being target population and 21 participants. The researcher utilized a closed-ended questionnaire and an open-ended questionnaire as triangulation. The researcher circulated the questionnaires to the entire population, and 95.24% (20) of the respondents responded, which was sufficient for the researcher to carry out the investigation. The majority of respondents were members of the management team, and the majority of respondents had been with the business for many years. Another difficulty is that the majority of managers are educated, as indicated by the fact that the majority of them have degrees. To solve fraud issue, the researcher discovered that Ned Bank has a policy in place to deal with fraud-related issues, but not everyone is aware of it. According to the research findings, pressure or motive was the leading source of fraud, and most employees were scared to use whistleblowing to prevent fraud. Recommendations were organisations should spend or channel funds towards reviewing remuneration of their employees and fraud detection but ascertaining independence of auditors; organisations should adhere to Code of ethics and company policies; banks should formulate and implement ways to curb fraud and access their progress; and employees should be trained in order to minimize fraud.
- Date
- 2023
- Publisher
- BUSE
- Keywords
- Fraud detection
- Forensic accounting
- Supervisor
- Mr Ngwende
- Item sets
- Department of Accountancy
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