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. 12 2024
DOI: 10.56201/jafm.v10.no12.2024.pg1.13

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Corporate Governance Influence on Fraud Risk Control in Rivers State Owned Higher Education Institutions

Dr. Nyemaekile Wogboroma, Ruth Victor-Okere and Dr. Chibuike Egbunefu

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Abstract

The aim of the study was to examine the extent to which Corporate Governance Influences Fraud Risk Control in Rivers State Owned Higher Education Institutions. Five research objectives and research questions guided the study while five null hypotheses were tested at 0.05 level of significance. The descriptive survey research design was adopted with a population of 313 accounting practitioners (accountants and auditors) in five Rivers State Owned Higher Education Intuitions. The entire population was used for the study. The instrument for data collection was a self-structured questionnaire titled “Corporate Governance Influence on Fraud Risk Control in Rivers State Higher Education Institutions (CGIFRCIRSHEI)” 313 copies of the questionnaire were distributed and all were retrieved for the study. The research instruments were validated by two business experts and one measurement and evaluation expert. All the corrections and inputs were used to modify the research instrument before administration. Reliability level was determined through test re-test using Pearson’s Product Moment Correlation Coefficient of 0.82 was obtained for the various clusters of the instrument which showed that the instrument is reliable. Mean and standard deviation was used to analyze the research questions. Analysis was based on a criterion mean score of 2.50. One-way Analysis of Variance (ANOVA) was used to test hypotheses at 0.5 level of significance. The findings of the study revealed that exercise of the transparency and accountability, fairness by accountants and auditors will to a high extent reduce ghost workers’ syndrome, embezzlement of funds, contract inflation, financial misappropriation and bribery in Rivers state owned higher education institutions. Based on the findings of the study, it was recommended among others that Accountants and Auditors should upheld their integrity to ensure security and credibility of information gotten from the

keywords:

Corporate, Governance, Fraud, Risk Control, Education

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