An Open Letter To The Vice-Chancellor Of Alex Ekwueme Federal University Ndufu-Alike Ikwo, Ebonyi State (AE-FUNAI): Voluntary Withdrawal From School Of Postgraduate Studies Due To Inadequacy Of Program Structure For The MSc. Accounting (Forensic) -By Nwogboji Emmanuel Usulor

Let me once more congratulate you on your assumption to office as the third substantive Vice-Chancellor of AE-FUNAI and I pray you achieve your strategic intent of driving the culture of excellence during your tenure.

Sir, I write to you to register my complete dissatisfaction with the program structure for Msc. Accounting (Forensic), the operational complexity of the AE-FUNAI Post Graduate (PG) program, and also my voluntary withdrawal from the school.

Permit me to digress a little to introduce myself. I am Nwogboji Emmanuel Usulor from Ezza in the Ohaukwu local government area of Ebonyi state. I graduated from Alex Ekwueme Federal University (AE-FUNAI) in 2018 with second class upper (4.42 CGPA) in accounting and I qualified as a chartered accountant in November 2019 under the Institute of Chartered Accountants of Nigeria (ICAN).  In 2020, I completed my continuing professional education (CPE) in strategic planning, corporate financial statements analysis, financial modeling, and forecasting of financial statements under the National Association of State Boards of Accountancy (NASBA).

In line with my career development plan, I have a keen interest in an advanced University degree that combines accounting, IT, legal, and investigative skills. On 13^th February 2020, I applied for my studentship at Alex Ekwueme Federal University, and fortunately, I was offered admission for M.Sc Accounting (Forensic) with reference No: FUNAI/PG/2019-20/00253. I accepted the admission on 3^rd June 2021 with Reg No: M.Sc/2020/155. Because of my passion for continuous professional development, I resigned from my Job at Sanni Mohammed & Co (Chartered Accountants) in Abuja on 7^th June 2021 to focus on this study. Upon my resignation, Alhaji Sanni Mohammed, the Founder CEO of Sanni Mohammed & Co who is from Illorin in Kwara State withheld my two Months’ salary and have refused to pay me to date, irrespective of several demand notices I have sent to him.

However, my experience in AE-FUNAI since the commencement of my study shows that AE-FUNAI PG school did not review the forensic accounting modalities before introducing the course into the school curriculum. While accounting has always been widely practiced, forensic accounting is a relatively new niche in the accounting profession. The technical nature of this program makes it difficult for most Universities to introduce it in their curriculum. Overseas, only a few universities with specialized lecturers and adequate instructional materials have launched forensic accounting degrees. AE-FUNAI is currently one of the known Universities offering forensic accounting in Nigeria, but with inadequate course outlines.

The program structure for forensic accounting in one of my target institutions, the University of South Wale in the UK, has the following courses:

• Forensic Financial Analysis
• Audit, Governance and Risk Management
• Cyber and Digital Investigation
• Financial Crime and Expert Witness
• Fraud Examination
• Research Methods in Accounting and Finance

On the other hand, the forensic accounting program structure in AE-FUNAI PG school includes typical undergraduate accounting courses which are:

• Financial Accounting Theory
• Research Methodology
• Corporate Finance
• Auditing Theory
• Taxation
• Public Sector Accounting
• Management Accounting Theory
• Entrepreneurship

If AE-FUNAI PG school continues with the above courses, they will only produce paper qualified forensic accountants who cannot detect or prevent fraudulent activities in an emerging economy like Nigeria. 

As an alumnus of Alex Ekwueme Federal University (AE-FUNAI), it behooves me to continuously support the strategic intent of building AE-FUNAI to a world-class university and a unique brand that is synonymous with excellence. As such, I recommend that a sample syllabus for a master’s degree in forensic accounting should cover:

• A general course on all types of fraud perpetrated in all walks of life, including identity thefts, telemarketing fraud, investment scams, etc.
• A course specifically looking at fraud against organizations perpetrated by employees, vendors, and customers.
• A course specifically targeted at discovering financial statement fraud.
• A fraud auditing and investigation course, looking at internal and external auditing practices.
• A course dealing with gathering surveillance and documentary using digital and IT mechanisms.
• A course specifically targeted at providing invaluable insight used by professional accountants in the search for criminal activities in private sector organizations and also in ministries, departments, and agencies in the public sector.
• A course targeted at preparing professionals to conduct fraud investigations and give expert testimony and litigation support.
• A course specifically targeted at discovering risk management and corporate governance issues.
• And finally, a course specifically looking at research methodology in the accounting profession.

Be that as it may, I wish to point out that the current administration of AE-FUNAI PG school is highly discouraging. The operational complexity is eating up the program efficiency and the overhead cost beard by the students for documentation processes is twice the tuition fees. Notwithstanding, I and my colleagues who graduated from AE-FUNAI were charged fifteen thousand nairas each (#15,000) for our transcripts to be transferred from the Exams and Records office to the PG unit. If for no other reasons, the Management should recognize our continued support irrespective of our ugly experience as the pioneer students of the institution. Thus, I implore the Management to overhaul the entire registration and documentation processes to fall in line with the world-class standards and also create a positive studying environment to inspire students from different parts of the world to choose AE-FUNAI for their post-graduate studies.

Sir, AE-FUNAI is my Alma mater and the decision to withdraw from my postgraduate admission is voluntary but orchestrated by the inadequacy of the program structure for my area of interest and also the poor administrative modalities. I regard all the funds spent from the time of my registration to the time of my withdrawal as a sunk cost, and I want to state that wrong is wrong even if everyone is doing it, and right is right even if no one is doing it.

The Management should not hesitate to call my attention should there is any area I would deploy my knowledge and skills in contemporary accounting and managerial issues to structure or restructure the existing system and position the institution for global recognition.

Lastly, Sir, I thank you for taking note of my observations. As a leader, you must make sure the culture of excellence is not downplayed. I hope you will make good use of your office(s) to eliminate standards corruption and improve the quality of education.

Cc:

Deputy Vice-Chancellor

Dean, School of Postgraduate Studies

Dean, Faculty of Management Sciences

HOD, Accounting Department

Regards,

Nwogboji Emmanuel Usulor

Qualified Chartered Accountant

+2348063558464 | Nwogboji20@gmail.com