ABSTRACT

This study examined the role of auditors in detecting financial irregularities in  business organizations. It examined that business organizations always have auditors whose responsibilities among· others are to check all the transactions of the firm and disclose any misdeed in the system. Auditors have the role to prevent fraud, detect fraud and disclose errors or fraud in a system.  The term frauds and other irregularities is used for several sins including fraud which involves the use of deception to obtain an unjust or illegal financial adventure. intentional misstatements in or omission of amount,  Auditors are to set up effective 'end functional internal control system to ensure that assets of the business are safeguarded  It examined that there are many types of fraud and irregularities that may exist in a financial system such Eco Bank Pie.   These are cash Freud,  forged cheques, crossfi.''ing of cheques as well as foreign exchange malpractices. Auditors in a firm do conduct internal checks on routine basis to ensure that accounting transactions agree with the book entry.  The study conducted was a descriptive one with a survey method. Froma population of 130 employees of  Eco Bank in the four branches in Abar  a sample of  98 respondents was drawn. Questionnaires were issued to the respondents to obtain their views on the questions raised in the questionnaire. Their views were obtained and analysed according to with a percentage method of analysis. Hypotheses were formulated and  tested with chi-square method of statistical analysis. The result obtained clarified the view that the verification of payment vouchers and proper authorization of financial instruments do not have effect  in detecting fraud and other financial irregularities.

 INTRODUCTION

2.8. Foreign   Exchange  Malpractices                                                22

2.8.6   Spurious Letters of Credit.                                                       23

2.9    Suggested Fraud   Control  Measures in Bank                         23

2.10  Internal   Control  System                                                          24

2.11  Auditing  and Internal   Check                                                   26

2~11.1 Auditors  and Accountability                                            

 DATA PRESENTATION   AND ANALYSIS

4.1      Data Presentation                                                                       51

4.2     Data Analysis                                                                             54

4.3      Test of Hypotheses                                                                    57

CHAPTER FIVE

SUMMARY  OF FINDINGS,   CONCLUSIONS   ANDRECOMMENDATIONS

Summary of findings

Recommendations

Conclusions

References

Questionnaire

Chi-sqare Table