Home / Current Issue / Paper 1705058
Impact of Audit in Controlling Fraud and Other Financial Irregularities in Commercial Banks in Nigeria. Case Study of GTbank and Access Bank
Subject area: Management and Commerce · Area of research: Management Science
Abstract
Fraud and financial irregularities in the banking sector can have severe detrimental impacts on the economy and public trust. Recent high-profile fraud cases in Nigerian banks highlight the need for effective mechanisms to prevent and detect such issues (Anagbogu& Shitu, 2021). Auditing serves a critical role in controlling fraud and upholding the integrity of financial reporting. The aim of this study is to examine the impact of audit in controlling fraud and other financial irregularities in commercial banks in Nigeria, using a case study of Guaranty Trust Bank (GTBank) and Access Bank.
References
[1] Aderibigbe, P. (2020). Forensic auditing techniques and fraudulent practices of Nigerian banks. Journal of Financial Crime, 27(1), 313-330.
[2] Anagbogu, M. A., & Shitu, I. (2021). Forensic accounting and fraud examination in the Nigerian banking sector. International Journal of Advanced Academic Research, 7(3), 1-22.
[3] Idris, A. (2019). Effectiveness of internal control system and performance of deposit money banks in Nigeria. Journal of Accounting and Financial Management, 5(2), 27-36.
[4] Modugu, K. P., &Anyaduba, J. O. (2013). Forensic accounting and financial fraud in Nigeria: An empirical approach. International Journal of Business and Social Science, 4(7), 281-289.
[5] Njanike, K., Dube, T., &Mashayanye, E. (2009). The effectiveness of forensic auditing in detecting, investigating, and preventing bank frauds. Journal of Sustainable Development in Africa, 10(4), 405-425.
[6] Nwanyanwu, L. A. (2018). Accounting, record keeping and the small and medium scale enterprises (SMEs) in Nigeria: Problems and prospects. International Journal of Management, Accounting and Economics, 5(12), 811-827.
[7] Okoye, E. I., &Gbegi, D. O. (2013). Forensic auditing and financial fraud in Nigerian deposit money banks (DMBS). American International Journal of Contemporary Research, 3(6), 83-91.
[8] Okoye, E. I., Modebe, N. J., & Taiwo, J. N. (2016). Impact of forensic accounting on fraud detection and prevention among commercial banks in Nigeria. Igbinedion University Journal of Accounting, 2, 175-192.
[9] Ojo, J. A. T. (2018). Mitigating financial fraud in the Nigerian banking sector through forensic audits. Journal of Internet Banking and Commerce, 23(2), 1-14.
[10] Onumah, J. M., & Krah, R. Y. (2018). Synthesizing the effectiveness of internal control systems of banks: Evidence from Ghana. Managerial Auditing Journal, 33(4), 426-444.
[11] Unegbu, A. O., & Obi, B. C. (2007). Auditing standards and practices in Nigeria: Problems and prospects. Global Journal of Social Sciences, 6(1), 51-57.
How to cite this paper
@article{1705058,
author = {Oyedele, K.S, I.F Remi-Aworemi, Aworemi J.R, Abiri O.N., Ojo K},
title = {Impact of Audit in Controlling Fraud and Other Financial Irregularities in Commercial Banks in Nigeria. Case Study of GTbank and Access Bank},
journal = {Iconic Research And Engineering Journals},
year = {2023},
volume = {7},
number = {3},
pages = {278-283},
issn = {2456-8880},
url = {https://www.irejournals.com/formatedpaper/1705058.pdf},
abstract = {Fraud and financial irregularities in the banking sector can have severe detrimental impacts on the economy and public trust. Recent high-profile fraud cases in Nigerian banks highlight the need for effective mechanisms to prevent and detect such issues (Anagbogu& Shitu, 2021). Auditing serves a critical role in controlling fraud and upholding the integrity of financial reporting. The aim of this study is to examine the impact of audit in controlling fraud and other financial irregularities in commercial banks in Nigeria, using a case study of Guaranty Trust Bank (GTBank) and Access Bank.},
month = {September},
}