Role Of Internal Auditors In Prevention Of Financial Irregularities Of Banks In Nigeria (A Study Of Ecobank Nigeria Plc)

ABSTRACT

This study analyzes the role of internal auditors in prevention of financial irregularities of banks in Nigeria. A study of Ecobank Nigeria PLC. The data for the study were collected from primary sources from three (3) Ecobank branches in Aba, Abia State through administration of questionnaires using the likert 5 point scaling survey method to the sample size of the study Several statistical tools were used including tables, simple percentages, and descriptive statistics and ordinary least square based simple regression method of data analysis which was used to analyze the data and test the hypotheses formulated. The study revealed that 2.5% of the role of internal auditor has a significant effect on fraud prevention in banks in Nigeria. Also, it revealed that 2.1% of the internal audit has a significant effect on control of banking operations in Nigeria. The study also revealed that 0. 1% of the internal audit has a significant effect on management support services. The study also recommends among other things that, there should be adequate training of workers in the banking sector especially the internal audit staff This will help in creating the much needed understandings as to the roles of auditing. There should also be training of operational staff to enhance operational performance thereby reducing exception in operation.