The Effect Of Auditing In Controlling Fraud And Other Financial Irregularities In Corperate Firms In Nigeria

Fraud is the intentional distortion of financial statements or other records by a person (internal or external) to the organisation which is carried out to conceal the misappropriation of assets or otherwise for gain"(Adeniji, 2004 and Institute of chartered Accountant Nigeria-ICAN, 2006). Fraud can also be defined as involving "the use of deception to obtain an unjust or illegal financial advantage; intentional misstatement in, or omissions of amounts or disclosure from an entity's accounting records or financial statements; or theft whether or not accompanied by misstatements in accounting record or financial statement.