PREVENTION OF FRAUD THROUGH CONTROL TECHNIQUES (A SURVEY OF SELECTED FIRMS IN PORT HARCOURT)

ABSTRACT The alarming rate at which fraud is being perpetrated in the business world has been a thing of great concern to the accountancy profession and well – meaning individuals in the society. This has given rise to discourses in the academic papers, etc. on circumstances that lead to fraud perpetration and ways of curbing this menance. A study was conducted to determine the extent of fraud in companies in Port Harcourt and Aba and the control techniques that could be adopted to prevent fraud. It was discovered that fraud is perpetrated by mostly staff in conjunction with people outside the organisation. In addition, investigation was also conducted on how management could help in eliminating fraud. Based on this, questionnaires were administered to some firms within and outside Port Harcourt. Oral interviews were also conducted as a back up support to the questionnaires. The result of the questionnaires and the oral interview showed that fraud perpetration results from negligence on the part of management either in placing adequate control on their personnel or the employment of incompetent staff or inadequate staffing. Based on the findings, it is recommended that for fraud to be curbed to its barest minimum, the management should recruit competent, efficient and trustworthy workers.   TABLE OF CONTENTS Title page ---------i Dedication ---------ii Acknowledgements-------iii Abstract---------iv Table of contents--------v 
CHAPTER ONE  INTRODUCTION 1.1Background of the study-----1 1.2Statement of problem-----7 1.3Objectives of the study ----8 1.4Research questions-----8 1.5Significance of the study-----9 1.6Scope and limitations of the study---9 1.7Summary -------10
CHAPTER TWO REVIEW OF RELEVANT /RELATED LITERATURE 2.1Definition of marketing ---11 2.2   The Marketing Mix---13 2.3Types of Fraud ------17 2.4  Circumstances which encourage fraud --23   2.5Methods management can adopt in prevention  of fraud   -------25 2.6Techniques of prevention of the pay roll fraud -35 2.7Computer processing controls ---39 2.8Other miscellaneous frauds----42
CHAPTER THREE RESEARCH METHODOLOGY 3.1Introduction ------43 3.2Sources of data------43 3.3 Determination of sample size---45 3.4 Method of Investigation ----46 3.5 Method of Data analysis ----50
CHAPTER FOUR DATA PRESENTATION AND ANALYSIS  4.1Analysis and Discussion of findings --52 4.2Discussion of Findings (Manual) ---74 4.3Discussion of Finding on Computer section -80
CHAPTER FIVE  SUMMARY OF FINDINGS, RECOMMENDATION  AND CONCLUSIONS 5.1 Summary -------81  5.2Conclusion------82 5.3Recommendation -----83 References ------88 Appendix -------92 Questionnaire ------93