Effects Of Internal Control System On Fraud Prevention In Nigeria Financial System

UDUH ABIGAIL UDONNA | 54 pages (9978 words) | Projects

ABSTRACT

The study examined the effect of internal control system as a factor of fraud prevention in Nigeria financial system. The study was carried out in Access Bank Plc and Ecobank Plc, in Umuahia, Abia State. The specific objectives were to ascertain the effect of control environment on fraud prevention in Nigeria financial system, to determine the effect of risk assessment on fraud prevention in Nigeria financial system, to examine the effect of information and communication on fraud prevention in Nigeria financial system. The study adopted descriptive and survey method. The data was sourced from the questionnaire that was issued to staff of Access Bank and Ecobank Plc. The data was analyzed using simple regression analysis. The result revealed that Control environment has a significant effect on fraud prevention, risk assessment has a significant effect on fraud prevent, information and communication has a significant effect on fraud prevention. It was recommended that only qualified and experience staff should be appointed to head internal audit department if internal control should stand the test of time. Internal auditors should be well remunerated in order to maintain their integrity in carrying out their work. Internal checks, such as operational control should be built into banking system to simplify the processing of entries in order to secure prompt services, to help in minimizing errors and to act as insurance against possible collusion.

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APA

UDUH, U (2021). Effects Of Internal Control System On Fraud Prevention In Nigeria Financial System. Mouau.afribary.org: Retrieved Nov 02, 2024, from https://repository.mouau.edu.ng/work/view/effects-of-internal-control-system-on-fraud-prevention-in-nigeria-financial-system-7-2

MLA 8th

UDONNA, UDUH. "Effects Of Internal Control System On Fraud Prevention In Nigeria Financial System" Mouau.afribary.org. Mouau.afribary.org, 22 Jul. 2021, https://repository.mouau.edu.ng/work/view/effects-of-internal-control-system-on-fraud-prevention-in-nigeria-financial-system-7-2. Accessed 02 Nov. 2024.

MLA7

UDONNA, UDUH. "Effects Of Internal Control System On Fraud Prevention In Nigeria Financial System". Mouau.afribary.org, Mouau.afribary.org, 22 Jul. 2021. Web. 02 Nov. 2024. < https://repository.mouau.edu.ng/work/view/effects-of-internal-control-system-on-fraud-prevention-in-nigeria-financial-system-7-2 >.

Chicago

UDONNA, UDUH. "Effects Of Internal Control System On Fraud Prevention In Nigeria Financial System" Mouau.afribary.org (2021). Accessed 02 Nov. 2024. https://repository.mouau.edu.ng/work/view/effects-of-internal-control-system-on-fraud-prevention-in-nigeria-financial-system-7-2

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