The Effectiveness of External Auditing in Fraud Prevention in Wukari Local Government Area
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style:
- Recommended for :
- NGN 5000
Background of the Study
Fraud within public sector organizations can lead to significant financial losses and undermine public trust in government institutions. External auditing is widely considered an essential mechanism for detecting and preventing fraud. By providing an independent assessment of financial operations, external auditors can identify discrepancies and flag potential fraudulent activities. This study examines the effectiveness of external auditing in preventing fraud in Wukari Local Government Area.
Statement of the Problem
Fraudulent activities within local government institutions in Wukari have raised concerns regarding the safeguarding of public funds. Despite the presence of external auditors, there have been cases of fraudulent financial transactions that were not detected or addressed in time. This study aims to explore the effectiveness of external auditing in preventing fraud and ensuring financial integrity in Wukari’s local government.
Aim and Objectives of the Study
The aim of this study is to evaluate the effectiveness of external auditing in fraud prevention in Wukari Local Government Area.
The objectives are:
- To assess the impact of external auditing in detecting and preventing fraud in Wukari.
- To examine the challenges faced by external auditors in preventing fraud in the local government sector.
- To propose recommendations for improving the effectiveness of external auditing in fraud prevention.
Research Questions
- How effective is external auditing in preventing fraud in Wukari Local Government Area?
- What challenges do external auditors face when detecting fraud in local government institutions?
- How can the effectiveness of external auditing in fraud prevention be improved in Wukari?
Research Hypotheses
- External auditing significantly contributes to preventing fraud in Wukari Local Government Area.
- There are significant challenges in the external auditing process that hinder the detection of fraud.
- Strengthening external auditing practices will enhance the prevention of fraud in Wukari Local Government Area.
Significance of the Study
This study will provide valuable insights into the effectiveness of external auditing in preventing fraud in the local government sector. The findings could lead to recommendations for strengthening auditing practices, ensuring better financial control, and improving governance in Wukari.
Scope and Limitation of the Study
The study will focus on external auditing in Wukari Local Government Area, specifically examining its role in fraud prevention. Limitations may include limited access to audit reports and potential resistance from local government staff.
Definition of Terms
- External Auditing: The process of auditing conducted by an independent entity to evaluate an organization's financial practices and ensure compliance with regulations.
- Fraud: Deliberate deception intended for personal gain, typically involving financial resources.
- Prevention: The actions taken to stop fraudulent activities from occurring or escalating.
