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FORENSIC ACCOUNTING PRACTICES – A MEANS OF MITIGATING CORRUPTION: A CASE STUDY OF THE GAMBIA PUBLIC SECTOR PERSPECTIVE
The aim of this research is on how forensic accounting practice could mitigate public sector corruption through fraud, bribery and embezzlement prevention. Review of relevant literature was carried out in order to gain deeper insight and understanding of the subject matter. Questionnaires were administered in order to generate the necessary primary data and were descriptively analyzed. Three hypotheses were identified and a Pearson’s Correlation, regression and a coefficient analysis tests were conducted to test the hypothesis statements. The result revealed that fraud prevention, bribery prevention and embezzlement prevention all shows positive significant influence on public sector financial corruption mitigation. This implies that public sector financial stakeholders should give a great value of consideration to fraud, bribery and embezzlement prevention in the efforts of public sector financial corruption mitigation in the Gambia. To this effect, the research recommends that forensic accounting must be introduced as a compulsory tool in dealing with financial sector corruption in order to promote corporate governance. The government should encourage the practice of forensic accounting by providing adequate training and resources to forensic accountants such that they become an expert in their particular field of expertise and develop new courses at tertiary institutions relating to forensic accounting practices.
Keywords: Forensic Accounting, Public Sector Accounting, Corruption mitigation Fraud prevention, Bribery prevention and Embezzlement prevention