tailieunhanh - THE RELEVANCE OF FORENSIC ACCOUNTING TO FINANCIAL CRIMES IN PRIVATE AND PUBLIC SECTORS OF THIRD WORLD ECONOMIES: A STUDY FROM NIGERIA

Enter the amount of terminal loss relief you are claiming against your 2011–12 profits at box 73 on page SEF 4 or box 15 on the Partnership pages as a loss brought forward and used this year . This is in addition to any other losses you are bringing forward from earlier years, but make sure you do not count the same loss twice. Enter the total amount of terminal loss relief for 2010–11, 2009–10 or 2008–09 in box 78 on page SEF 4 or box 21 on the Partnership pages and give details of the amount carried back to each year in the ‘Any other information’. | THE RELEVANCE OF FORENSIC ACCOUNTING TO FINANCIAL CRIMES IN PRIVATE AND PUBLIC SECTORS OF THIRD WORLD ECONOMIES A STUDY FROM NIGERIA By Kasum Abubakar Sadiq B. Sc. M. Sc. ACA. Department of Accounting and Finance University of Ilorin Nigeria. Abstract The paper studied financial crimes in developing economies. Fraud and corruption has affected the lives of citizens of third world countries negatively it is engraved in the systems it is alarming and seriously devastating. The work specifically evaluates the extent of financial crimes in developing countries and compares the private and public sector with a view to determine the sector where the services of forensic accountants is more required. The results of our reviews are that fraud and corruption are fundamental problems of third world countries. Empirically we found that investigative or forensic accountant has a role to play generally but more in the public sector. We then recommend the strengthening of forensic accounting institution and utilization of their services in public sector of developing nations economies. KEY WORDS Forensic Accounting Financial crime Third World Economies Fraud Corruption INTRODUCTION Financial irregularity is a severe problem of concern globally. It is the major concern to developing nations. It is so endemic that fraud and corruption is gradually becoming a normal way of life. Financial irregularities are so common that almost every individual cannot wash his or her hands clean of it. Starting from the public sector to the private sector from the presidential villa of the nation down the political office-holding ladder to the ward councilors from managing directors of a company through middle management cadre and to as low as messengers. Individual perpetrates fraud and corrupt practice according to the capacity of their office. Although financial irregularities affects private and public sector the magnitude of public office fraud together with the extent to which citizens are .