ABSTRACT
The purpose of the study was to establish the relationship between internal control systems (JCS) andfraud prevention infinancial institutions. Internal control systems (JCS)was analyzed based on its component which include; internal control and internal auditing. The Researcher set out to establish how internal control systems (JCS) could be used to control fraud in financial institutions. 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, ANOVA and Descriptive Research Designs. Data was collected using Questionnaires from the audit department, finance department, legal department, staff department and premises department of First bank of Nigeria pie area office at Enugu. A sample of 3 6 respondents from a population of 40 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. For the acceleration of banking development in Nigeria, there should be a sound basis for internal control system (JCS), this implies that the system should be appropriate, adequate, and effective. The study established a significant relationship between JCS and fraud prevention. The researcher recommends that banks should ensure that effective internal control system is guaranteed, also managers and directors of banks should constantly evaluate the internal control system in order to detect fraudulent practices which have the capacity ofjeopardizing the future of the bank. The study also recommends that Managers and Directors of banks should ensure recruitment of professionals in the field of banking and proper maintenance of open and closed account registers. Also, Managers and Directors of banks should ensure strict control on the movement of ledger card and books of account.
ANUMADU, E (2021). Internal Control System As A Means Of Preventing Fraud In Financial Institution (A Study Of First Bank Nig Plc). Mouau.afribary.org: Retrieved Oct 31, 2024, from https://repository.mouau.edu.ng/work/view/internal-control-system-as-a-means-of-preventing-fraud-in-financial-institution-a-study-of-first-bank-nig-plc-7-2
E, ANUMADU. "Internal Control System As A Means Of Preventing Fraud In Financial Institution (A Study Of First Bank Nig Plc)" Mouau.afribary.org. Mouau.afribary.org, 30 Apr. 2021, https://repository.mouau.edu.ng/work/view/internal-control-system-as-a-means-of-preventing-fraud-in-financial-institution-a-study-of-first-bank-nig-plc-7-2. Accessed 31 Oct. 2024.
E, ANUMADU. "Internal Control System As A Means Of Preventing Fraud In Financial Institution (A Study Of First Bank Nig Plc)". Mouau.afribary.org, Mouau.afribary.org, 30 Apr. 2021. Web. 31 Oct. 2024. < https://repository.mouau.edu.ng/work/view/internal-control-system-as-a-means-of-preventing-fraud-in-financial-institution-a-study-of-first-bank-nig-plc-7-2 >.
E, ANUMADU. "Internal Control System As A Means Of Preventing Fraud In Financial Institution (A Study Of First Bank Nig Plc)" Mouau.afribary.org (2021). Accessed 31 Oct. 2024. https://repository.mouau.edu.ng/work/view/internal-control-system-as-a-means-of-preventing-fraud-in-financial-institution-a-study-of-first-bank-nig-plc-7-2