Implementing the Use of Auditing Skills to Identify and Avert Situations which could Lead to Frauds being Perpetrated

The study dwelt, on the effectiveness of forensic auditing in identifying and averting situations which could lead to frauds being perpetrated. The study sought find out to what level the forensic auditors are able to fulfill this mandate and investigate problems that hinder forensic auditors to make progress in their operations in developing countries with special reference with Nigeria. It also established the role of forensic auditing in banking operations. The internationally recognized audit procedures used in detecting and investigating these frauds were discussed. In conclusion, forensic auditors must be capacitated materially and technically to improve their effectiveness. In addition, the forensic auditors should create a constituted body that serves their - interests and regulate the activities just like any other profession.