Assessment of the Impact of Board Characteristics on Forensic Accounting Practices of Listed Deposit Money Banks (DMBs) in Nigeria

  • Jeremiah Oreoluwa Akinadewo
  • Israel Seriki Akinadewo
  • Olusola Esther Igbekoyi
Keywords: Board Characteristics, Board Composition, Board Independence, Board Expertise, Forensic Accounting Practices


Due to economic uncertainty and stakeholders’ disillusionment, which has prompted calls for better financial system protection, extensive forensic accounting systems are needed. This study came into force to investigate how board characteristics affect forensic accounting practices in listed Nigerian Deposit Money Banks (DMBs). The longitudinal study included fifteen DMBs listed on the Nigerian Exchange Group as of December 31, 2022. The analysis used audited yearly financial records from 2013 to 2022 of these firms. The data was analysed using descriptive statistics and marginal logistic regression. This research found that board composition and competence positively affect forensic accounting adoption. The influence on board independence was positive but statistically negligible. This shows that board composition and expertise are key to forensic accounting practices implementation. This study concludes that board composition and experience help DMBs adopt forensic accounting practices. It was recommended that DMBs should adopt data analytics and AI. Policymakers should establish real-time information exchange methods, and banks should safeguard whistle-blowers and allow anonymous reporting. These methods are essential for improving forensic accounting, detecting fraud quickly, and protecting financial stability and reputation.


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How to Cite
Akinadewo, J. O., Akinadewo, I. S., & Igbekoyi, O. E. (2024). Assessment of the Impact of Board Characteristics on Forensic Accounting Practices of Listed Deposit Money Banks (DMBs) in Nigeria. European Journal of Science, Innovation and Technology, 4(1), 108-124. Retrieved from