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INTRODUCTION Background of the study: Internal control was defined by the Auditing standards and guideline as a whole system of control both financial and otherwise, established by management in order to carry on the business of on enterprise in an orderly and efficient manner, ensure adherence to management polices, safeguard the asset and secure as far as possible the completeness and accuracy of records.’’(1) In reality, internal co […]
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1.1 INTRODUCTION The bulk of fraud required by the investing sector of most developed and developing business economics of the world is provided by the bank industry in the main, the service of mobilizing fund from the saving that is simples to the investing sector provided by the banking industry accounted for the high status the banking industry is place in the development of any economy the rate of economic development of the nation […]
50 Pages
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INTRODUCTION 1.1 STATEMENT OF PROBLEM Initially, fraud (i.e. deliberate effort to obtain financial advantage of a person unlawfully) was become the problematic term inhibiting the proper functioning or operation of bank. As scrutinized experience bank inspectors and auditors that totally implication or hazard impact of fraud in Nigeria economy is reduction on economic growth and development (Okechukwu 2004). Furthermore, it had cause […]
90 Pages
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INTRODUCTION 1.1 BACKGROUND OF THE STUDY Even since the inception of the first three successful indigenous banks in Nigeria, the National Bank of Nigeria established on February 11th 1933, the Agbommagbe Bank (now wema Bank Nig Plc) in 1945, The African continental Bank Plc in 1947 and others subsequently established in the country during the period from 1952 when the first banking ordinance was enacted to regulate and control the acti […]
101 Pages
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1.1 INTRODUCTION The Institute of Charter Accountants defines the concept internal control system as “The whole system of control financial and otherwise established by the management in order to carry on the business of the enterprise in an orderly and efficient manner, ensure adherence to management policies, safeguard the assets and secure as fact as possible the completeness and accuracy check and internal audit” fraud is a threat […]
43 Pages
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INTRODUCTION PROBLEM IDENTIFICATION AND PURPOSE OF THE STUDY. Nigeria financial institutions have over the years given support on various developments projects across the country. (Agbo 2000) In line with this, they were suppose to have givien such financial assistant to small scale industries to enable them hence their administrative structure and industries have over the years been hampered by insufficient capital, lack of know how, […]
100 Pages
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9,978 Words
INTRODUCTION 1.1 BACKGROUND OF THE STUDY The performance of the Nigeria banking sector has been a serious concern to the generality of Nigeria. Such Nigerians includes but are not restricted to politicians, the military, the academic community , industrialist , traders, and even the peasant community. As one reflects on the present state of the sector, one cannot but come to the sad conclusion that all is not well. Actually, the metho […]