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The Role And Strategies Of An Auditor In Fraud Prevention And Detection In Banking Industries In Nigeria

Download complete project materials  on The Role And Strategies Of An Auditor In Fraud Prevention And Detection In Banking Industries In Nigeria from chapter one to chapter five with references

In the primitive days, man started his transaction with his fellow man with the methods of “Trade by Barter” the need for recording, keeping or auditing did not rise, however, the advert of money and the consequent increase in the number of transaction made keeping of record and accounts and their audit avoidable.

In those days keepers need “to account to the selected men integrity who listen to oral evidence, who heard them and testifies to their correctness or otherwise, later on the complexity of the modern business transaction necessitates the voluminous account keeping and intimately the scientists examination of account now called modern auditing.

TABLE OF CONTENTS

Title Page

Dedication

Acknowledgement

Table of Content

Abstract

CHAPTER ONE:

1.1 Background of the study

1.2 Statement of the Study

1.3 Objective of the Study

1.4 Scope of the Study

1.5 Significant of the Study

1.6 Limitation of the Study

1.7 Research Methodology

1.8 Plan of the Study

CHAPTER TWO:

2.1 Literature Review

2.2 Nature and Types of Fraud

2.3 Fraud detection

2.4 Causes of Frauds

2.5 Effect of fraud

2.6 Fraud  prevention strategy

2.7 Fraud control policy

CHAPTER THREE:

3.0 Research Methodology

3.1 Introduction

3.2 Population under Study

3.3 Sample and Sampling

3.4 Sources of Data

3.5 Methods of Data Collection

3.6 Methods of Data Analysis

3.7 Research Limitation

CHAPTER FOUR

4.1 Introduction

4.2 Presentation and Analysis of Data

4.3 Data Analysis based on past Journal of Fraud Case in Bank

4.4 Presentation of Responses on the Oral Interview Conduct

CHAPTER FIVE

5.1 Summary

5.2 Conclusion

5.3 Recommendation

5.4 Bibliography

CHAPTER ONE

1.0   INTRODUCTION

1.1  BACKGROUNG OF THE STUDY

In the primitive days, man started his transaction with his fellow man with the methods of “Trade by Barter” the need for recording, keeping or auditing did not rise, however, the advert of money and the consequent increase in the number of transaction made keeping of record and accounts and their audit avoidable.

In those days keepers need “to account to the selected men integrity who listen to oral evidence, who heard them and testifies to their correctness or otherwise, later on the complexity of the modern business transaction necessitates the voluminous account keeping and intimately the scientists examination of account now called modern auditing.

The origin of auditing is as a result of the separation of ownership from control. It is instituted to protect the interest of the owners by ensuring the financial statement is justified. Because of the separation of ownership from control, it becomes necessary for those managers entrusted with owners financial resource report (Stewardship Reports) to their employer(s). The presented might contain errors, refusal to disclose fraud and irregularities.

The audit of the book and records of a bank is similar to the audit of any other commercial organization in the sense that the audit has to report to the account present at true and fair view of the state of the affairs of the banks and of the profit and loss covered by the account. However, because of the peculiarities of a banks operation, which are governed by the bank and financial institutions Decree 25 of 1991 as amended, the audit procedure for a bank defers from that of a typical commercial organization.

1.2 STATEMENT OF THE PROBLEM

Fraud is a phenomenon, which cut across all sphere of business society. Recently; the incidence of fraud has got attention of all sundry and has been the focus of government attentions.

In this project, we attempt to say the role and strategies of an auditor in fraud prevention and detection. Also to analyze bank fraud causes, effect on the growth of the banking system in particular and the overall socio-economic development and likely solution.

1.3   OBJECTIVE OF THE STUDY

  1. To acquire the readers with menace of fraud in the banking industry with a view to assist banks and customers in minimizing and trading the risks in their day to day transaction.
  2. To guide and educate the general public as to the role of auditor in fraud prevention in commercial banks of Nigeria and strategies by the auditors to reduce the effect of fraud to the minimum.
  3. To have in-depth knowledge of manifestation and causes of bank frauds.
  4. To have o-gain insight into effect and benefits of not being frauds and implication of frauds.
  5. To identify and outline various types and nature of frauds.

1.4  SCOPE OF THE STUDY

In the course of this study, an attempt would be made to look critically at the role of an auditor in fraud prevention in banking. First Bank Nigeria Plc as a Case Study.
The study will also attempt to look at the role customers and staff in preventing fraud in Nigeria Banks.The adverse effects of frauds to banks customers and public will also be known.The measure been taking at First Bank Plc will be highlighted which may be of benefit to other Banks and the general public.

1.5  SIGNIFICANCE OF THE STUDY

The study is particularly significant taken into consideration the current development in the banking industry. The study will invariably have an impact on the company under study. Individuals or customers and whole economy at large.
The study will be beneficial to the company under study i.e. First Bank Nigeria Plc, in that if the problem of fraud could be prevented by an auditor it will afford the opportunity of having a very sound financial base there by protecting them from running into untimely liquidation

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