ABSTRACT
The purpose of the study was to establish the
relationship between internal control systems (!CS) and fraud prevention in
financial institutions. Internal control systems (ICS) was analyzed based on
its component which include; internal control and internal auditing. The
Researcher set out to establish how internal control systems (ICS) could be
used to control fraud in Internal Board of Revenue. The researcher set study
objectives and hypotheses that assisted in establishing the relationship sort.
The research was conducted using both quantitative and qualitative approaches
using random sampling, ANOV A and Descriptive Research Designs. Data was
collected using Questionnaires from the income tax department, planning
department. other revenue department. A sample of 40 respondents from a
population of 45 was used for this study. Data was analyzed using the
Statistical Package for Social Scientists (SPSS) and conclusions were drawn
from tables and figures derived from the Package. The study established a
significant relationship between ICS and fraud prevention. The researcher
recommends that board of internal revenue should ensure that effective internal
control system is guaranteed, also directors of the board of internal revenue
should constantly evaluate the internal control system in order to detect
fraudulent practices which have the capacity of jeopardizing the future of the
board. The study also recommends that Managers and Directors of board of
intcrna! revenue should ensure recruitment of professionals in the field of tax
computation and proper maintenance of open and closed account registers. Also,
Managers and Directors of board of internal revenue should ensure strict
control on the movement of ledger card and books of account.
NWAOGU, C (2024). Effect Of Internal Control System On Fraud Prevention In Nigeria (A Study Of Enugu Board Of Internal Revenue):- Nwaogu Samuel C. Mouau.afribary.org: Retrieved Oct 31, 2024, from https://repository.mouau.edu.ng/work/view/effect-of-internal-control-system-on-fraud-prevention-in-nigeria-a-study-of-enugu-board-of-internal-revenue-nwaogu-samuel-c-7-2
CHIEMELA, NWAOGU. "Effect Of Internal Control System On Fraud Prevention In Nigeria (A Study Of Enugu Board Of Internal Revenue):- Nwaogu Samuel C" Mouau.afribary.org. Mouau.afribary.org, 18 Apr. 2024, https://repository.mouau.edu.ng/work/view/effect-of-internal-control-system-on-fraud-prevention-in-nigeria-a-study-of-enugu-board-of-internal-revenue-nwaogu-samuel-c-7-2. Accessed 31 Oct. 2024.
CHIEMELA, NWAOGU. "Effect Of Internal Control System On Fraud Prevention In Nigeria (A Study Of Enugu Board Of Internal Revenue):- Nwaogu Samuel C". Mouau.afribary.org, Mouau.afribary.org, 18 Apr. 2024. Web. 31 Oct. 2024. < https://repository.mouau.edu.ng/work/view/effect-of-internal-control-system-on-fraud-prevention-in-nigeria-a-study-of-enugu-board-of-internal-revenue-nwaogu-samuel-c-7-2 >.
CHIEMELA, NWAOGU. "Effect Of Internal Control System On Fraud Prevention In Nigeria (A Study Of Enugu Board Of Internal Revenue):- Nwaogu Samuel C" Mouau.afribary.org (2024). Accessed 31 Oct. 2024. https://repository.mouau.edu.ng/work/view/effect-of-internal-control-system-on-fraud-prevention-in-nigeria-a-study-of-enugu-board-of-internal-revenue-nwaogu-samuel-c-7-2