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FRAUD DETECTION AND CONTROL IN PAY
ROLL DEPARTMENT IN TAI LOCAL GOVERNMENT
CHAPTER ONE
INTRODUCTION
Fraud is an
act of deception intended for personal gain or loss to another party. Fraud as
a crime embraces all the multifarious means which a human ingenuity can device
which are resorted to by an individual to get an advantage over another by
false representation. This means that fraud can be perpetrated in the course of
personal relationship in religious organizations, social clubs etc.
Seetharaman, Sentivelmurugan & Periyananyagam (2004). Fraud causes
tremendous loss to the business world and creates morale problems in the work
place. When we are stripped of our money by fraudulent means the consequences
can be devastating. Fraud losses are serious problems to organizations that
need to be managed, controlled and monitored
1.1 Background of the Study
The
Association of Certified Fraud Examination (ACFE) identifies three main
categories of fraud that affects organizations; the first of these is asset
misappropriations, which involves the theft or misuse of an organizations
asset. Examples include theft of inventory or cash, false invoicing, accounts
receivable fraud and payroll fraud. The second category of fraud is fraudulent
financial statements which are the most costly with median loss of $2million
among the 99 financial misstatements included in the 2008 ACFE study. The final
of the three fraud categories and most common is corruption occurring in 27
percent of all fraud cases (AICPA, 2009). Corruption includes activities such
as the use of bribes or acceptance of ‘’Kickbacks” improper use of confidential
information, conflicts of interest and collusive tendering.
Fraud has
been cited as Nigeria‘s biggest single problem both in public and private
sectors. It has not only snapped public trust in government but it has cost the
government and people of Nigeria billions, due to corrupt management of public
companies unrealized public projects and deteriorated infrastructure caused by
looted maintenance budget. It is against this background that the researcher
intends to analyze the issue of fraud and strategies to manage it. The research
therefore seek to investigate the Fraud detection and control in payroll
department in TAI LGA
1.2 Statement of the Problem
Fraud has
been cited as Nigeria‘s biggest single problem both in public and private
sectors. It has not only snapped public trust in government but it has cost the
government and people of Nigeria billions, due to corrupt management of public
companies unrealized public projects and deteriorated infrastructure caused by
looted maintenance budget. It is against this background that Kamaludeen (1991)
observes “billions of naira is lost in the public sector every year through
fraudulent means” this he argues represents only the amount that is ferreted
out and made public.
Indeed much
more substantial or huge sums are lost in undetected frauds or those that are
for one reason or the other hushed up. Fraud constitutes any deliberate false
act aimed at deceiving or harming any party, individual or corporate body, in
any manner. Therefore the problem confronting this research is to investigate
fraud detection and control in Payroll department in TAI LGA
1.3 Objective of the Study
To determine the nature of fraud
To determine the methods of fraud detection
and control
To determine the nature of fraud detection
and control in the payroll department in Tai LGA
1.4 Research Questions
1 What is the nature of fraud
2 What is the methods of fraud detection
and control
3 What is the nature of fraud detection and control in the payroll
department in TAI LGA
1.4 Significance of the Study
The study
shall appraise the nature of fraud detection and control which will serve as a
framework for the eradication of fraud in the public and private sector
organization.
The study
shall also provide essential information on issues fraud detection and control.
1.5 Statement of Hypothesis
1 Ho Fraud
in the payroll department in TAI LGA is Low
Hi Fraud in the payroll department in TAI
LGA is high
2 Ho
Fraud detection in the payroll department in TAI LGA is low
Hi Fraud
detection in the payroll department in TAI LGA is high
3 Ho
Fraud control in the payroll
department in TAI LGA is low
Hi Fraud
control in the payroll department in TAI LGA is high
1.7 Scope of the Study
The study
focuses on the appraisal of fraud detection and control in the payroll
department of TAI LGA
1.8 Definition of Terms
Corporate
image: This refers to the goodwill and public image created by an entirely. It
could be as a result of making good quality products, offering efficient
services and maintain a satisfied work force.
Internal control:
the plan of an organization and all the co-ordinate method and means adopted
within a business to safeguard its assets, check the accuracy data, promote
operational efficiency and encourage adherence to prescribed managerial
policies.
Liquidation:
The winding up of a business, is usually as a result of insufficient funds.
Forgery: Forgery is the act of falsely making
or receiving any writing for the purpose of doing to another person. Any
alteration of a writing made with intent to defraud is a forgery. For instance,
the forgery of a staff signature.
Dummy names:
This type of fraud is in a way of including non – existence name in the wages
sheets.
Falsification of account: These
types of fraud are usually committed by the pay rollers who are either acting
ignorantly, innocently or with proved criminal intent.
Forged cheque: Forged cheque with
forged signature remain one of the commonest source of fraud, in this case,
cheque books are stolen, customers signature are perfectly forged and many
successfully with draw from the bank. Journal of Good Governance and
Sustainable Development in Africa (JGGSDA), Vol. 2, No 4, May, 2015. ,Gbegi, D.
O. & Adebisi, J.F., 2015, 2(4):109 128 110 Research Centre for Management
and Social Studies
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