RISK ASSESSMENT AS INTERNAL CONTROL SYSTEM TOOL IN DETECTING AND PREVENTING FRAUD IN NIGERIA MONEY DEPOSIT BANKS
Mustapha, Muhammed Basiru. Ph.D. (FCNA), Nurudeen, Olanrewaju Abdulfatai, PhD. and Jimoh, Musakiru Isola
Volume 3 Issue 2
Abstract
The study investigated the effect of internal control system as a measure of fraud prevention in deposit money banks in Nigeria with emphasis on Oke-ogun area Oyo State. In achieving the objectives of this study, fraud triangle theory was employed. A self-structured questionnaire was developed and administered to 140 staff of deposit money bank and the data were analyzed using descriptive statistics and the hypothesis was tested using correlation and regression analysis. The study revealed that risk recognition and risk assessment cannot be undermined while preventing fraud practices in deposit money banks and as such recommends the use of risk recognition and assessment as a measure of fraud control in money deposit banks in Nigeria. Key words; Internal Control System, Risk Recognition, Assessment, Fraud Prevention
Download Paper