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September 10, 2025

Forensic Accounting Analysis and Tax Fraud in Listed Consumer Goods Firms in Nigeria

Key Points

Forensic expert accounting consultation negatively impacts tax fraud in Nigerian consumer goods firms, suggesting improved audit practices.
Findings show that forensic litigation support has a negative influence on tax fraud, highlighting its role in deterring fraud.
Forensic investigation positively affects tax fraud occurrences among listed consumer goods firms, indicating its necessity in fraud detection.
Correlation and multiple regression analyses were performed on secondary data from 22 listed firms, revealing significant relationships.

Abstract

This study examined forensic accounting analysis and tax fraud in listed consumer goods firms in Nigeria for ten (10) years, from 2014 to 2023, and the theoretical framework for the study is agency theory. The research design for the study is an ex-post facto design, and the population and sample size of the study are twenty-two (22) listed consumer goods firms. The study used secondary data from the annual reports and accounts of listed consumer goods firms in Nigeria and the Federal Inland Revenue Service (FIRS) bulletin. The data collected were analysed using the descriptive statistics, correlation and multiple regression analysis technique. It was discovered that forensic expert accounting consultation has a negative significant effect on tax fraud in listed consumer goods firms in Nigeria; forensic expert witnessing has a significant impact on tax fraud in listed consumer goods firms in Nigeria. Forensic litigation support has a negative significant influence on tax fraud in listed consumer goods firms in Nigeria, and forensic investigation has a positive significant effect on tax fraud in listed consumer goods firms in Nigeria. In line with the findings, it was recommended that listed consumer goods companies in Nigeria should set explicit policies requiring forensic experts to be consulted in all important financial audits, as this has a negative and significant impact on tax fraud. This will assist in identifying and discouraging fraudulent activity. Businesses should also make sure that tax authorities and forensic specialists work together to improve fraud prevention measures, and given the substantial impact of forensic expert witnessing on tax fraud, companies should use expert testimony to support their fraud claims. Potential offenders may be discouraged by this since they will be aware of the legal repercussions. In order to increase reporting accuracy and make it easier for forensic experts to get involved in tax-related issues, businesses should also train their finance personnel on the legal implications of fraud.

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