The Internal Control System As An Aid To Detection And Prevention Of Fraud In Banks (A Case Study Of First Bank Of Nigerian Plc)

ABSTRACT  
All investigation using samples are aimed at discovering some things about a particular population. The success of any sample lies in the accuracy with which it reflects the true state of affairs in the whole population. It is however known that it is highly impossible that such reflection would be 100% accurate when we draw a random sample, we hope that it would be representative of the relevant characteristics of the population, but there is no guaranteed since we can never be hundred percent sure. The management can usually best discharge these responsibilities by installing a system for the production of reliable management information, adequate financial reports, prevention of errors and detection of fraud and loss of banks asset. In this study, the research will review the concept of the internal control system and the crucial role it plays in the country. This research also defines the role of internal control system in the bank and takes an in-depth look into the day-to-day activities and dealing of First Bank of Nigeria Plc. It is a known fact today that most companies function effectively or if they fail to function effectively, their glory or ordeal rested on management acumen. This implies that effective and efficient management of any organization is the pre-requisite for the success of such organization, be it banking industry, manufacturing or service organization. In view of the above, the need for effective institution and operation of good internal control system arises.

TABLE OF CONTENTS
Title pageiCertificationiiDedication iiiAcknowledgementivAbstractvTable of ContentsviCHAPTER ONE: INTRODUCTION1.1Background of the study11.2Purpose of the study21.3Significance of the study21.4Statement of problems31.5Research questions31.6Statement of hypothesis41.7Scope and limitation of the study 41.8Historical background of First Bank of Nigeria Plc51.9Definition of terms6References 8
CHAPTER TWO: LITERATURE REVIEW2.0Introduction 92.1Definition of internal control 92.2Strong and effective internal control and revenue assurance 112.3Division of internal control 122.4Objectives and importance of internal control 172.5Limitation of internal control 182.6Risk management framework internal control 202.7Governance responsibilities of internal control in the bank 212.8Definition of fraud 212.9Fraud management objectives 222.10Components of internal control 22References26
CHAPTER THREE: RESEARCH METHODOLOGY 3.0Introduction273.1Research design273.2Data collection method283.2.1Purpose of internal control questionnaire283.3Population characteristics293.3.1Internal control section293.3.2Fund transfer section293.4Sample size293.5Sampling procedure303.6Reliability of the data303.7Sources of data 303.8Method of analysis313.9Limitation of methodology    31References 32
CHAPTER FOUR: DATA ANALYSIS AND INTERPRETATION4.1Introduction334.2Data analysis and interpretation334.2.1Presentation of data analysis334.3Restatement and testing of the hypothesis394.4Limitations and constraints464.5Discussion of findings46
CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS5.1Summary 485.2Conclusion495.3Recommendation50Bibliography51Questionnaire52