An Assessment of the Role of External Auditor in the Detection and Prevention of Fraud in Deposit Money Banks in Nigeria (2005-2014)

Authors

  • Agbeja, O. (Ph.D)
  • Sokunle, O.T

DOI:

https://doi.org/10.9756/IAJAFM/V6I1/1910004

Keywords:

Operational Risk, Gross Undercapitalisation, Front Door Securities, Firewalls, Packet filtering, Hacking.

Abstract

The study investigated the role of external auditor in the prevention of frauds in the Nigerian Deposit Money Banks. Secondary data obtained from CBN and NDIC reports and bank databases were used. Ordinary Least Square method and Analysis of Variance (ANOVA) were employed. The results revealed that there was significant relationship between incidence of frauds and changes in banks deposit; incidence of non-performing loans consequent on fraud; bank contribution to the economy consequent on non-performing loans. The paper recommended that external auditor should continue to reduce fraud and loans to insiders be reduced.

Downloads

Published

2019-06-13

Issue

Vol. 6 No. 1 (2019)

Section

Articles

How to Cite

Agbeja, O., & Sokunle, O. T. (2019). An Assessment of the Role of External Auditor in the Detection and Prevention of Fraud in Deposit Money Banks in Nigeria (2005-2014). International Academic Journal of Accounting and Financial Management, 6(1), 32-55. https://doi.org/10.9756/IAJAFM/V6I1/1910004