Background of the Study
Internal audit is a critical function in ensuring accountability, transparency, and financial integrity in both public and private organizations. In government institutions, the role of internal audit in fraud prevention is especially important, as public funds are often vulnerable to misuse, misappropriation, and fraud (Abubakar & Imran, 2024). The Lagos State Government, one of the most populous and economically significant regions in Nigeria, faces substantial challenges in managing public finances due to the scale and complexity of its operations. The internal audit department plays a key role in overseeing financial management, detecting fraud, and ensuring compliance with financial regulations. However, the effectiveness of internal audit in fraud prevention within the Lagos State Government has not been extensively studied. This research seeks to examine the role of internal audit in preventing fraud within the government’s financial operations, focusing on its strategies, challenges, and successes.
Statement of the Problem
Fraud prevention in government institutions remains a significant challenge, despite the existence of internal audit functions. The role of internal audit in fraud prevention in the public sector, particularly in the Lagos State Government, needs further examination. While internal audit functions are designed to detect and prevent fraud, their effectiveness in a complex and high-profile institution like Lagos State Government remains unclear. This study will explore how the internal audit department contributes to fraud prevention, evaluating its methodologies, tools, and overall impact.
Objectives of the Study
Research Questions
Research Hypotheses
Scope and Limitations of the Study
This study will focus on the internal audit function within the Lagos State Government, evaluating its role in fraud prevention. Data will be collected through interviews with internal auditors, government officials, and analysis of audit reports. Limitations may include the sensitivity of financial records and the difficulty in accessing confidential audit information.
Definitions of Terms
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