IIARD International Institute of Academic Research and Development

Journal of Accounting and Financial Management (JAFM )

E-ISSN 2504-8856
P-ISSN 2695-2211
VOL. 10 NO. 6 2024
DOI: 10.56201/jafm.v10.no6.2024.pg32.50

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Effect of Fraud Analytic and Fraud Auditing on Fraud Management in Federal Government Ministries in Nigeria

OJELABI, Sunday Adeyemi

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Abstract

Fraud has long been a pervasive issue within government organizations worldwide, and Nigeria is no exception. Federal Ministries in Nigeria, like many public institutions, have faced significant challenges in detecting, preventing, and mitigating fraudulent activities. This study examined effect of fraud investigation and fraud auditing on fraud management in selected federal government ministries in Nigeria. The Population for this study consisted of all the 1550 staff of the Office of the Auditor General of the Federation. However, respondents for this study is Five Hundred and Twenty (520) of them are assigned forensic duties. Primary data was collected using 5-point Likert scale structured questionnaire for the study, the study employed the Partial Least Square Structural Equation Modeling (PLS-SEM) to model the regression analysis. The analysis revealed that fraud auditing has positive and significant effect on fraud management, also the it was found that fraud analytic has positive and significant effect on fraud management. It is concluded that fraud auditing and fraud analytic has positive and significant effect on fraud management in the under study federal government ministries and agencies in Nigeria, Based on the study's findings, it is recommended that organizations should ensure that adequate resources, including financial and human resources, are allocated to support the fraud auditor efforts. It is recommended that organizations should utilizes sophisticated techniques to analyze vast amounts of data from various sources such as transaction records, customer information, and external databases.

keywords:

Fraud Auditing, Fraud Analytic, Fraud Management

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