Impact of Forensic Audits on Fraud Detection and Prevention within the Ekiti State Internal Revenue Service (EKIRS)

This study examines the impact of forensic audits on fraud detection and prevention within the Ekiti State Internal Revenue Service (EKIRS). Using a descriptive survey design, the research evaluates the prevalence of fraud, existing fraud detection mechanisms, the role of forensic audits, and the challenges faced in implementing these audits within EKIRS. Data were collected from 60 relevant stakeholders, including revenue collectors, forensic auditors, and management personnel, through a structured questionnaire. The findings indicate a high prevalence of fraud, with tax evasion, misappropriation of funds, and corruption being prominent. Forensic audits were found to be more effective than traditional audits in detecting fraud, but their impact is constrained by financial limitations, insufficient technological resources, and inadequate training for staff. The study concludes that while forensic audits hold significant potential for improving fraud detection, resource constraints must be addressed to enhance their effectiveness. Recommendations include investing in modern fraud detection technologies, providing specialized training for staff, increasing the frequency and scope of audits, and improving follow-up on audit findings. This research contributes to the body of knowledge on forensic auditing in public revenue agencies, offering practical solutions to enhance fraud detection and promote accountability within EKIRS.