ABSTRACT

The study of statutory auditor's responsibility in the detection of fraud in financial institution establishes the dependence and call for systematic review of audit approach among others to give special attention to fraud dimensions and areas drawing largely from behaviorally equally sociological and ethical principles. In Nigeria, the findings revealed that the respondents are very much concerned about the problem of fraud. In addition, the respondents placed very big expectation on statutory auditor's duties and responsibilities on fraud prevention and detection, this reception is as regards to the stated secondary objective of audit. That a statutory auditor has the responsibility for the prevention, detection of fraud, other illegal acts and errors is one of the most controversial issues in auditing and has been one of the most frequently debated areas among auditors, politicians, media regulators and the public (Gepatal, 1991). In auditing profession in Nigeria has caught the media attention following financial scandals in some of the Nigerian banks such as Oceanic, Intercontinental. So, this research work is grouped into five chapters and the method used in the collection of needed information in this research work includes the use of questionnaire, oral interview, secondary data and primary data. Equally, the information was analyzed by using the following techniques, firs presentation of the data in tabular form and alsousing the percentage and lastly, Chi-square was also used. The findings from the use of the techniques above proved that it is not the duty or responsibility of statutory auditor's to detect fraud in financial institution. But on the other hand, secondarily, it is the duty and responsibility of a statutory auditor to detect fraud in financial institution. Finally, the recommendations made on this work involve an advice to financial institutions, organizational structure of government in our society by using the hypothesis answers.

TABLE OF CONTENTS

Title page

Declaration - II

Certification Ii

Dedication -

Acknowledgement - - v

Table of contents - - - - v;

List of Tables - - - - - - - - viii

Abstract - - - - - - X

CHAPTER ONE

1.1 INTRODUCTION

1.1 Background of the Study - - - - - 1

1.2 Statement of Research problems - - - 2

1.3 Objective of the Study - - - - 3

1.4 Statement of research Questions - - - - 3

1.5 Statement of Hypothesis - - - - - 4

1 .6 Significance of the Study - - - - - 4

CHAPTER TWO

2.0 RELATED LITERATURE REVIEW

2.1 Concepts and Definitions of a Statutory Auditor -

2.2 Models Relevant to the Study - -

2.3 Nature of Banks - - - - - 6

2.4 Objectives of bank Auditing - - - - 7

2.5 Definition of Fraud and its Involvement - - 8

2.6 Causes of Fraud - - - - - - 9

2.7 Bank Fraud and its Causes - - - 9

2.8 Causes of Bank Fraud - - - - - - 10

2.9 How to Detect Fraud in Financial Institutions - - 10

2.10 How to Prevent Fraud in Financial Institution - 10

2.11 Audit Tips - - - - - - 1 1

2.12 Qualities required of a Statutory Auditor - 12

2.13 Statutory Auditor's Responsibility in Financial Institutions - 13

CHAPTER THREE

3.0 METHODOLOGY

3.1 Research Design - -

3.2 TheAreaoftheStudy - - - - 15

3.3 Population of the Study - - 15

3.4 Sample and Sampling Techniques and Sample size 16

3.5 Sample Method - - - -

3.6 Method of Data Collection Instruments - - 17

3.7 Primary Data - - - - - 17

3.8 Secondary Data - - - - - 17

3.9 Tools use for Data Analysis and Testing - 17

CHAPTER FOUR

4.0 PRESENTATION AND ANALYSIS OF DATA

4.1 Analysis of Questionnaire - - - - 20

4.2 Discussion of Findings - - - - 35

CHAPTER FIVE

5.0 SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.1 Summaryof Findings - - - -

5.2 Conclusion - - - - - - - 37

5.3 Recommendations - -

5.4 Representation of the Problem - - - - 39

5.5 Suggestion for further Study - - - - - 40

References

Appendix