Value-for-Money Audit and Fraud Control in the Public Sector: A study of Ministry of Finance, Umuahia :- Okoronkwo Goodness

ABSTRACT

The study assessed the effect of value for money Audit and Fraud control on the Public sector using Ministry of Finance, Umuahia as a case study. The study specifically assessed the effects of Economy, Efficiency, and Effectiveness on Fraud control in the Ministry. The data used for the study was obtained using questionnaires on 71 selected respondents. The descriptive and multiple regression analysis were employed in analyzing the data. Findings show that Economy, Efficiency, and Effectiveness have positive and significant relationship on Fraud control in the Ministry. Hence the study recommends that the Ministry of Finance, Umuahia and other Public Enterprises should install and monitor Value for money Audit to checkmate the Economy, Efficiency and Effectiveness of their activities. And this will also to forestall and prevent the high incidence of fraud and corruption prevalent in Public enterprises.