ABSTRACT

This research is on the appraisal on the role of auditor in fraud prevention and

detection (A case study of some selected banks in Umuahia Abia State. This study,

is aimed at knowing, the regulatory frame work that contribute to the auditors,

inability to prevent and detect fraud, auditors percçptions on their role and the view,

of others, the extent auditors help in internal check and control, prevention and

detection of fraud in a business organization. Questionnaires were administered to

the different workers in the banks. This was supplemented with interviews. Tables,

averages, percentages and chi-squared were used to present and analyze the data.

The findings showed that fraud is seen as the intentional misrepresentation,

concealment, and omission of facts for the purpose of deception or manipulation to

the financial detriment of art individual or organization. Fraud is a major concern

for business in Nigeria. The auditors do not believe that their role is to detect and

prevent fraud but to obtain audit evidence which will, help them to form opinion in

the financial statement of the business organization. Auditors must possess certain

qualities and qualifications for their effective work. Auditors must, maser the

different types of auditing in a business organization. They help in internal check

and control of fraud and prevention and detection. The perception of the auditor is

quite different from others. it is recommended that the auditors must possess those

qualities for effective auditing, implementation to the core the auditors'

recommendations in' the financial statement, there shOuld be legislations to

empower the auditors. The users of the financial statements should be educated on

the actual duties of the auditors to reduce misconception problem and that the

scope of the auditor should be expanded to meet the market expectations.