FORENSIC AUDIT AND PROFITABILITY OF CONSUMER GOODS MANUFACTURING COMPANIES IN KWARA STATE, NIGERIA

IBITOYE,, OPEYEMI STELLA (2022) FORENSIC AUDIT AND PROFITABILITY OF CONSUMER GOODS MANUFACTURING COMPANIES IN KWARA STATE, NIGERIA. Masters thesis, Landmark University, Omu Aran, Kwara State.

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Abstract

This research work examined the impact of forensic audit on profitability of consumer goods manufacturing companies in Kwara State, Nigeria which entails the return on asset (ROA), return on equity (ROE) and net profit margin (NPM) The study made use of quantitative survey approach. The population of the study consists of the consumer goods manufacturing companies in Kwara State, Nigeria. Judgmental sampling technique was used to select Olam Nigeria Limited and Heritage Company. Core staffs from the two companies totaling, 110 respondents constitute the sample size for the study. Primary data was obtained from the sample of the population using questionnaire. Linear regression and Pearson correlation analysis technique was used to analyze the data gathered. Findings revealed that forensic audit, proxy by red flags (financial statement fraud) has positive on return on asset of consumer goods manufacturing companies in Kwara State, there ia also a positive significant relationship between asset misappropriation and return on equity of consumer goods manufacturing companies in Kwara State and with forensic audit skills conflict of interest has no significant impact on the net profit of consumer goods manufacturing companies in Kwara State. The study concludes that forensic audit has a positive significant impact on profitability of consumer goods manufacturing companies in Kwara State. The study recommends that the companies need to design, strengthen, support and promote programs and trainings to ensure certification of forensic auditors especially on investigative skills. Key Note: Forensic Audit, Fraud, Profitability, Investigative Skills

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