“Effect of Internal Audit System on Fraud Detection, Prevention and Control in Isiala-Ngwa North Local Government Area of Abia State:- Udeozo Francis C

ABSTRACT

 The study seeks to examine the effect of effect of internal audit system on fraud detection, prevention and control in Isiala- Ngwa North Local Government Area of Abia State. The study adopts the survey research design and questionnaires were administered to staffofthe local government. 90 questionnire were returned, this formed the basis for the sample size. Data was analysed using Pearson correlation. The result of the study revealed that; internal audit system has a positive insignificant effect on fraud detection in the local government. Also, internal audit system has a positive insignificant effect on fraud prevention in the local government. Finally, internal audit system has a positive significant effect on fraud control in the local government. Thus it is recommended that; the administrators should put in place effective internal audit systems that will checkmate fraud, remove bottlenecks and ease operations towards the attainment of productivity and sound performance. Also, effective internal control measures should be set in motion such that fraud can be easily detected at the point they are being effected thus easy control mechanism can be effective.