Effective Internal Control System As A Measure For Detection And Prevention Of Fraud In Banks (A Study Of Selected Banks In Nigeria)
ABSTRACT
Bank 1iilures and widespread losses over the two decades, has however,
elevated the importance of internal control system within the formal financial
sector worldwide. Organizations set up internal control system most at times
because they are required by law to do so; but then, how many has actually
made a point of duty to train and educate the employees on how to use this
internal control system since its effectiveness depends on the competency and
dependability of the people using it. This research study defines internal control,
as a means to an end; it is aimed at verifying the conception that an efficient and
effectively implemented internal control system is the best strategy for
preventing and detecting fraud in the banking sector; thus the objective of this
research is to examine the effect of internal control system, when it comes to
prevention and detection of fraud. Data captured in this study was analysed
through statistical techniques using likerc scale. Chi square(x2) was also used to
analyse the response of the respondents. The statistical techniques involved the
use of modified likerc scale, i.e. agreed (A), strongly agreed (SA), disagree (D),
strongly disagreed (SD). The source of the data for the research was primary
source. Questionnaire and interviews were used as the data collection method
for the study. Based on the analysis, effective internal control system was seen
not to be the only significant effect in detection and prevention of fraud in
Nigerian banks, but external factors like the CBN policies, NDIC, also help in
fraud detection and prevention.
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ONWUBIKO, A (2021). Effective Internal Control System As A Measure For Detection And Prevention Of Fraud In Banks (A Study Of Selected Banks In Nigeria). Repository.mouau.edu.ng: Retrieved Nov 25, 2024, from https://repository.mouau.edu.ng/work/view/effective-internal-control-system-as-a-measure-for-detection-and-prevention-of-fraud-in-banks-a-study-of-selected-banks-in-nigeria-7-2
AMARACHI, ONWUBIKO. "Effective Internal Control System As A Measure For Detection And Prevention Of Fraud In Banks (A Study Of Selected Banks In Nigeria)" Repository.mouau.edu.ng. Repository.mouau.edu.ng, 04 Jun. 2021, https://repository.mouau.edu.ng/work/view/effective-internal-control-system-as-a-measure-for-detection-and-prevention-of-fraud-in-banks-a-study-of-selected-banks-in-nigeria-7-2. Accessed 25 Nov. 2024.
AMARACHI, ONWUBIKO. "Effective Internal Control System As A Measure For Detection And Prevention Of Fraud In Banks (A Study Of Selected Banks In Nigeria)". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 04 Jun. 2021. Web. 25 Nov. 2024. < https://repository.mouau.edu.ng/work/view/effective-internal-control-system-as-a-measure-for-detection-and-prevention-of-fraud-in-banks-a-study-of-selected-banks-in-nigeria-7-2 >.
AMARACHI, ONWUBIKO. "Effective Internal Control System As A Measure For Detection And Prevention Of Fraud In Banks (A Study Of Selected Banks In Nigeria)" Repository.mouau.edu.ng (2021). Accessed 25 Nov. 2024. https://repository.mouau.edu.ng/work/view/effective-internal-control-system-as-a-measure-for-detection-and-prevention-of-fraud-in-banks-a-study-of-selected-banks-in-nigeria-7-2