CIFCFIN urges govt, OPS to establish forensic accounting departments

CHARTERED Institute
of Forensics and Certified

Fraud Investigators of Nige-
ria (CIFCFIN) has advised

government at all levels and

the organised private sec-
tor to establish forensic ac-
counting departments. The

departments are expected to
be independent of existing

management but rather re-
port directly to the Governing

Board or Board of Directors as
the case may be to halt fraud in its track.

CIFCFIN’s Chairman, Pro-
fessional Training and Stan-
dards, Prof. Michael Ayeni,

made this appeal during the

Institute’s 4th direct gradua-
tion ceremony, induction and

award of Fellowship at EFCC
Academy, Abuja, recently.
Ayeni said the creation of
the forensic department will
act as a first line of defence
against occupational fraud to
repel the obnoxious activities
of treasury looters as a proac- tive measure rather than the
reactive approach of auditors
who only show up after the
atrocities would have been

committed. “Our job as foren- sic accountants and fraud in-
vestigators is to prevent fraud

rather than allow it to happen

before taking action,” he as-
serted.

Earlier in his speech, Presi- dent, Governing Council of

the Institute, Dr. Iliyasu Gash-
inbaki, said that the Institute

was ready to work with the

government at all levels to en-
sure a holistic forensic review

of palliatives as well as dis-
tribution mechanism to the

poorest of the poor. “I think
that will infuse transparency

and accountability in the pro-
cess, and the mistakes and er-
rors and challenges identified

will be avoided because this is
just the beginning of so many
social safety-net interventions

introduced by the present gov-
ernment.