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Sunday, August 25, 2019
Technology

Fraud prevention: Forensic auditors canvasses use of technology

The Chartered Institute of Forensic and Investigative Auditors (CIFIA) has advised Nigeria to block the insistence cases of financial fraud in government organisations through the use of forensic science and technology.

The President of the institute, Mrs Victoria Enape, said this on Friday in Abuja at the Third Forensic and Investigative Audit Training organised by CIFIA.

She said that this would further the issue of fraud prevention and fight against corruption in government agencies.

“If I had my way, I will tell the Nigerian government that these stories about snakes and other animals swallowing money must come to an end.

“The only people that can do this effectively is forensic auditors. That is why we exist and that is why government must do all it takes to support forensic auditors in the country.

“The CIFIA Bill should be passed to enable us have the muscle to help the government detect cases of fraud and return sanity back to our system.

“Forensic auditors are not magicians but rather are equipped with special knowledge to detect fraud in cases where traditional auditors cannot,” she said.

She harped on the need to build skilled professionals to improve fraud prevention and detection so as to preserve money in government treasury for infrastructural development.

Meanwhile, Mr Victor Agwe, Head of Forensic Unit, Economic and Financial Crimes Commission (EFCC), said Nigeria’s continued high ratings in the Transparency International report on corruption calls for innovative ways to curtail the problem.

He underscored the need to build the capacity of modern accountants and auditors by strengthening relevant institutions and processes of government.

“We need to embrace new ideas, concept and new methodologies of doing things if we want to stop the suffering and haemophorrage going on in our country.

“We need forensic auditors in a time like this with everything presently going on.

You put on the TV, you read the papers and you still see cases of looting and corruption taking place in government despite the anti-corruption war,” he said.

CIFIA inducted 30 new members at the end of the training and laid out new rules and regulations governing the institute in anticipation of the passage and signing of the CIFIA bill into law.