FORENSIC AUDITING PRACTICES AND FRAUD MITIGATION OF QUOTED DEPOSIT MONEY BANKS IN NIGERIA
Keywords:
Fraud Investigation.Fraud Litigation Support Services.Corporate Governance Internal Auditing.Internal Control System
Abstract
The study sought to establish the relationship between forensic auditing practices and fraud mitigation from 2012-2022 for quoted DMBs in Nigeria. The selected predictor proxies included Fraud Investigation (FGN) and Fraud Litigation Support Services (FLS), whereas the criterion proxies were Corporate Governance (CTG), Internal Auditing (IAD) and Internal Control System (ICS). The study employed survey and ex-post facto research designs wherein primary and secondary data were used. The data spanned the period between 2012 and 2022. The data used for the analysis were ratings from questionnaires and the average figures from annual publish statement of account and Nigeria Stock Exchange statistical data. The data was analyzed using E-view-10 statistical software package. The study results established that secondary data proxies. The questionnaires were administered to the management staff of 24 quoted DMBs in Nigeria. Using panel OLS there exist a positive and significant relationship between the variables under investigation. It was recommended that the Management of DMBs Nigeria should put in place an internal control system that would allow each branch monitor its detailed daily financial operations, and NDIC in conjunction with CBN and other regulatory agencies should sustain the enforcement of compliance with the forensic auditing features to guarantee an enduring sanity in financial practices.
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References
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Eyisi, A.S. &Agbaeze, E.K. (2014). The impact of forensic auditors in corporate governance, International Journal of Development and Sustainability, 3(2), 404– 417.
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Published
2024-07-31
How to Cite
OLUMIDE BABABO, A., OFURUM, C. .O., & EGBE, S. (2024). FORENSIC AUDITING PRACTICES AND FRAUD MITIGATION OF QUOTED DEPOSIT MONEY BANKS IN NIGERIA. GPH-International Journal of Social Science and Humanities Research, 7(06), 89-111. https://doi.org/10.5281/zenodo.13140827
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