THE ROLE OF INTERNAL AUDITORS IN FRAUD DETECTION AND PREVENTION IN BANKS IN NIGERIA
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
ABSTRACT
This study was carried out on the role of internal auditors in fraud detection and prevention in banks in Nigeria using Sky Bank as case study. To achieve this 4 research questions were formulated. The survey design was adopted and the simple random sampling techniques were employed in this study. The population size comprise of the entire Staff of Polaris Bank, Mbgidi Branch Imo state. In determining the sample size, the researcher purposively selected 35 respondents while 30 respondents were validated. Self-constructed and validated questionnaire was used for data collection. The collected and validated questionnaires were analyzed using frequency tables and percentage. While the hypothesis were tested using Chi-square statistical too. SPSS v23.
The result of the findings reveals that; the internal control system of skye bank is not effective; There is a relationship between internal auditors and fraud in Nigeria; Internal auditors can not solely prevent fraud in Nigeria banks; Internal auditors in Nigerian Banks are not very transparent and effective in detecting and preventing fraud in Nigeria banks.
Based on the findings, the researcher recommended that the management of the commercial banks should ensure that the available corporate fraud control and prevention systems are utilized, maintained and updated for effective fraud control and prevention; viable audit committee to evaluate and oversee everyday transactions of the bank and assist the management with oversight of reporting any lapses in the internal controls process of the bank; Anti-fraud seminars should be conducted on regular basis to employees; Job rotations within the bank should be planned by auditors and other senior officers to ensure effectiveness and the rotations should not be communicated ahead of time to the involved employee and to mention but a few.
Related Project Materials
LESSON TIME, LEASSON DURATION, SCHOOL CLIMATE AND CLASS SIZE AS PREDICTORS OF STUDENTS MASTERY OF ENGLISH STUDIES
Abstract
This study is on lesson time, lesson duration, school climate and class size as predictors of students’ m...
THE IMPACT OF DIGITAL TWIN TECHNOLOGY ON VOCATIONAL TRAINING IN MANUFACTURING
ABSTRACT: The impact of digital twin technology on vocational training in manufacturing is significant for modernizing educational methodologi...
AN INVESTIGATION ON THE LEGAL IMPACT OF CUSTOMARY LAW MARRIAGES IN NIGERIA
Background of the Study
Marriage is a worldwide institution that is acknowledged and revered in every s...
ENHANCING VOCATIONAL EDUCATION THROUGH THE USE OF AUGMENTED REALITY
ABSTRACT: The impact of blockchain technology on vocational education credentials is pivotal in enhancing the credibility, security, and acces...
ASSESSMENT OF TECHNOLOGICAL INFRASTRUCTURE CHALLENGES IN VOCATIONAL SCHOOLS
ABSTRACT: Addressing Technological Infrastructure Challenges in Vocational Schools examines strategies to overcome technological barriers that hind...
THE INFLUENCE OF VOCATIONAL AND TECHNICAL EDUCATION ON EMPLOYABILITY SKILLS OF UNDERGRADUATE STUDENTS IN TERTIARY INSTITUTIONS IN KWARA STATE
Background of the study
Education in specialized trades and professions is almost certainly the source...
VALUE ADDED TAX: AN IMPORTANT SOURCE OF REVENUE TO THE GOVERNMENT
ABSTRACT
The research work is carried out specifically to appreciate value Added Tax as an important source of revenue t...
EFFECTS OF INSTRUCTIONAL MATERIALS IN TEACHING AND LEARNING OF GOVERNMENT SECONDARY SCHOOLS
EXCERPT FROM THE STUDY
It should be noted that the extent and depth of research carried out on any specific instructiona...
THE RELEVANCE OF ARTIFICIAL INTELLIGENCE: A STUDY OF SELECTED MILITARY OPERATIONS IN KADUNA STATE
BACKGROUND OF THE STUDY
Since the beginnings of the mid 1900s, the scientific field of Artificia...
EFFECTIVENESS OF MASS MEDIA IN SENSITIZING AGAINST HUMAN TRAFFICKING IN NIGERIA
ABSRACT
Human trafficking which is always a problem, continues to be a subject of considerable mass media coverage in Ni...
