THE IMPACT OF FORENSIC ACCOUNTING ON RIVERS STATE'S ECONOMIC EXPANSION.

Abstract

The present study examines the influence of forensic accounting on economic growth in Rivers State, with particular attention to the functions of internal control systems, corporate governance, and fraud detection and prevention. The Ministry of Finance, the Ministry of Economic Planning and Budget, the Ministry of Justice, the Ministry of Commerce and Industry, and the Ministry of Public Works were the five main ministries that received structured questionnaires as part of a quantitative research design. A strong response rate was achieved by administering a total of 25 questionnaires, of which 23 valid replies were returned for processing. Economic expansion and efficient fraud detection and prevention sy;stems are significantly positively correlated, according to the data, highlighting the significance of these measures in improving financial transparency. The study also emphasizes how important corporate governance is for encouraging responsibility and sustainable business practices, and how important robust internal control systems are for preventing financial misconduct. Descriptive statistical research validated these associations, showing how certain forensic accounting components support Rivers State's economic growth. The study concludes by highlighting how urgently better forensic accounting procedures are needed to support regional economic growth. Strengthening corporate governance frameworks, improving fraud detection systems, and making sure internal control measures are implemented effectively in public sector businesses are some of the recommendations. To create an atmosphere that supports Rivers State's sustainable economic growth, several actions are crucial.