THE PREVENTION AND DETECTION OF FRAUD IN SMALL SCALE INDUSTRIES IN NIGERIA


THE PREVENTION AND DETECTION OF FRAUD IN SMALL SCALE INDUSTRIES IN NIGERIA (CASE STUDY OF ADEGOKE GROUP OF COMPANIES IBADAN)  

PROPOSAL

The issue of fraud has become a serious food for through fro many corporate bodies in recent time. Consequently more time is spent on board meeting in an attempt to find situation the perastert fraudulent practice among management and non management staffs. 

And frauds is a wrongful or criminal deception intends to result in financial or personal gain, while fraud is a deliberate misrepresentation while cause another person be suffer damage. Fraud occurs when someone gains something’s of value usually money of property. 

While small scale industries are defined by the Nigeria industrial policy as those with total investment between one hundred thousand naira (100,000.00) and two million naira (2m) exclusive of land but including working capital. 

And in the leyman duration, small scale is a business that is start with little capital. It is therefore evident from the above that most of the big company complements today started as small and many as one man business like A.G levels nig. Plc, john holl plc lever brothers nig, pls, pz industries plc and today they exist as multinational mega industries. The contribution of small scale industries to the economy are:

⦁ Promotion of even development and fair distribution of industrial activities throughout the country. 

⦁ Rapid expansion and diversification of the industries and before investment. 

⦁ Transformation and modernization of traditional industries. 

In order to prevent and detect fraud in small scale industries god internal control. Provide a working environment in which good employees are not tempted to do something they would not ordinarily do. 

And  internal control includes the prevention of potential problems as well as the early detection. And correction of actual problem should they occur. 

The most common type of fraud by employed is frictition lean other common forms of fraud are the use of in transit or suspense account and kickbacks. 

TABLE OF CONTENTS

Title page 

Dedication 

Declaration

Certification 

Acknowledgment 

Table of content 

CHAPTER ONE 

1.0 introduction 

1.1 the background of the study 

1.2 scope of the study

1.3 significance of the study 

1.4 the problem of the study 

1.5 limitation of the study 

1.6 research hypothesis 

CHAPTER TWO

2.0 literature review 

2.1 categories of fraud 

2.2 farm of fraud

2.3 detection of frauds 

2.4 prevention of frauds 

2.5 frauds prevention in the banking industry 

CHAPTER THREE

3.0 research methodology 

3.1 population distinction 

3.2 population size 

3.3 sampling method 

3.4 data collection method 

3.5 da1ta presentation and analysis 

CHAPTER FOUR 

4.0 analysis and presentation of result

4.1 brief history of case study 

4.2 data presentation and analysis 

4.3 testing of hypothesis 

4.4 discuss of test result 

4.5 discussion of test result 

CHAPTER FIVE

5.0 summary, conclusion and recommendation 

5.1 summary of findings 

5.2 conclusion 

5.3 Recommendation 

References 

Appendix 

CHAPTER ONE

INTRODUCTION 

The term fraud, refer to an international misrepresentation of financial information by one of more individual among management employees or third parties. The issue of fraud has become a serious food for times. Consevently more time is spent on board meeting in an attempt to find section to the presitent fraudulent practice among management and non management staffs. The issue of standard transaction practice in any organization should not be left lying occurs in any establishment will determine the long term survival and growth of the company. If not handled with care it can lead to corporate failure. The resporability for the prevention and detection of fraud rests within management through effective implementation and continues operation of an adequate system of internal control. The internal control system is defied in the audit standard and guideline approved by the council that the association of certified accountant (ACA as the whole system of control, financial and otherwise established by the management in order to carry on the business of the enterprises in orderly and efficient management and also adherence to policies of the management. 

The internal control of an organization can be in following 

i. organization control (source) (Ayeni A.P, 2007)

ii. physical control 

iii. segregation of duties 

iv. personnel control 

v. supervision control 

vi. Arithmetic and accounting control.

SCOPE OF THE STUDY 

The small scale industry covers a relation scope and in a project of this nature a large representations sample of banky government or private institution and compare should have been studied. In order to get an under knowledge of the management procedure and techniques employed in the industries to prevent and detect fraud, 

The study has however been confirmed to the small industries in Oyo state Ibadan and its environment. While a descriptive and theoretical approach have been adopted in the analysis of office field work approach have been adopted. It is the intention of the twitter to focus on internal control system in the small scale industries. 

PROBLEM OF THE STUDY  

In carry out the study the following problems were encountered. 

i. For effective manipulation: the topic was restricted to small scale industries organization. These industries are both governmentally and privately owned because of this and the secretive nature of most of the private and government industries, certain factual information reaccured were considered very sensitive. 

ii. In choosing the industries, effort were made to secure industries with those product on hand which will reflect their organization techniques few met up with this reeavirement where this is possible. However very little corporate was received from the officer notwithstanding with all these problems it was possible to highlight the performance of the industries. 

THE BACKGROUND OF THE STUDY 

The advance learners dictionary defined fraud as criminal reception an act of a particular person or things that receives. According to the international auditing guidelines, fraud is defined as irregularities involving the use of people to obtain an illegal or unjest advantage which may involve the following. 

1. Supposing or transactions from records of document.

2. Misapplication of accounting policies, if this is intentional and deceive full. 

The issue of fraud ahs become a serious food for through for many corporate bodies in the recent times. Consequently more time is spent on toward meeting in an attempts to find solution to the persistent fraudulent practice among management and non management staffs. 

The issue of standard transaction practice in any organization should be left lying low. The freavency with which it be rears is highly leads in any growth of the company and if not handed with care can lead to corporate failure. In the recent years, the general and of the essential product is increasing fairly in Nigeria and this will mentally continue. Both the federal, state and local government carrot fold their arms then resulted into various measures like the introduction of small scale industries in Nigeria. 

Also, in order to meet such unprecedented demand of a reasonable cost and efficiently here is need to employ fraud prevention and reflection techniques in organization so as to prevent them from dying off. 

THE PROBLEM OF THE STUDY

In carryout of the study the following problems were encountered. 

1. For effective manipulation, the topic was restricted to small scale industries organizations. These industries are both government and private owned. Because of this and the secretive nature of most of the private and government industries, certain factual information required were considered very sensitive and confidential started that there was no adequate structured or ground to be developed to improve performance in the industries. 

2. In choosing the industries, effort were made to secure industries which new product on hand which will reflect their organization techniques, few met this requirement, where this was possible very little co-operation was received from the officers. Not withstanding with all these problems, it was possible to highlight the performance of the industries. The study was conducted and a set of recommendations to help in minimizing fraud in the small scale industries. 

THE PROBLEM OF THE STUDY 

In carryout the study, the following problem were encountered. 

1. for effective coverage, the topic was restricted to small scale organization. These industries are both government and private owned. Because of this and the secretaries nature of most of the private and government industries, certain factual information received were considered very creative and confidential issue that could not be obtained factual information received were considered very sanative and confidential issue that could not be obtained. The industries stated that there was no adequate structure on ground to be developed to improve performance in the or industries. 

2. in choosing the industries, effort were made to secure industries with new products on hand which will relect their organization techniques few me it this requirement, where this was possible very little cooperation was recleved from the officers. Not withstanding all these problem, it was possible to highlight the performance of the industries. The study was conducted a set of recommendations to help in minimizing fraud in the small scale industries. 

SIGNIFICANCE OF THE STUDY 

All organizations whether profit oriented or not operate within conditions of resources constrafic. As a result, various steps are taken and procedures established to ensure that fraud in a small scale industries are prevented and detected in achieving and maximizing the organization goals. Primarily among the steps. Taken to the setting up a structure of internal control within which on orderly operation can take place. 

LIMITATION OF THE STUDY 

The   limitations to the study are the factor impending the researchers work and such factors include time duration of the semester, financial constraint and inaccessibility of relevant and sufficient data. These factors militated against the researches in such a way that this resulted in the researchers inability to do the work efficiently. The lack of adequate financial support also delayed researchers to do with within a reasonable time. 

Lastly, the doing distance of the company has caused the inability or the researchers to travel down to the companies in order to get data on how to detect and prevent fraud in small scale industries. The researchers will limit the study to Adegoke grove companies in Ilorin. 

SCOPE OF THE STUDY 

The small scale industries covers a national scope and in a project of these nature a large representatives sample of bank, government or private institution and compare should have been studied. In order to get an under knowledge of the management procedure and techniques employed in the industries. The study has however been confirmed to the small industries in Oyo state Ibadan and its environment. 

While a descriptive and theoretical approach been adopted in the analysis of office organization and management procedures a more practical field work approach have been adopted. It is the intention of the writer to focus on internal control system in the small scale industries. 

An in-depth was not possible for the following reasons. 

1. The shortness of time available for the project. 

2. Lacking detailed information from the industries

RESEARCH HYPOTHESIS 

Hypothesis simply means a conjunction or tentative statement or an assertion or an ideal which is thought suitable to explain the fact about something or preposition of what can be seen in the world of reality and this production is made from the world of theory and natural phenomerials. 

The essence of hypothesis in this study is to conduct test into the validity of the following found where internal control system is faulty and proper internal checks is lacking. 

Hi: that fraud is basically due to complex nature of accounting system. 

Hi: have been taken as the probability that the will hypothesis Ho is true or valid. 

Ho: this is to test whether detection and prevention of fraud will not help the industry to safe it resources from pilferage as a result of weak internal control system.

.


TYPE IN YOUR TOPIC AND CLICK SEARCH.






RESEARCHWAP.COM

Researchwap.com is an online repository for free project topics and research materials, articles and custom writing of research works. We’re an online resource centre that provides a vast database for students to access numerous research project topics and materials. Researchwap.com guides and assist Postgraduate, Undergraduate and Final Year Students with well researched and quality project topics, topic ideas, research guides and project materials. We’re reliable and trustworthy, and we really understand what is called “time factor”, that is why we’ve simplified the process so that students can get their research projects ready on time. Our platform provides more educational services, such as hiring a writer, research analysis, and software for computer science research and we also seriously adhere to a timely delivery.

TESTIMONIES FROM OUR CLIENTS


Please feel free to carefully review some written and captured responses from our satisfied clients.

  • "Exceptionally outstanding. Highly recommend for all who wish to have effective and excellent project defence. Easily Accessable, Affordable, Effective and effective."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "I saw this website on facebook page and I did not even bother since I was in a hurry to complete my project. But I am totally amazed that when I visited the website and saw the topic I was looking for and I decided to give a try and now I have received it within an hour after ordering the material. Am grateful guys!"

    Hilary Yusuf, United States International University Africa, Nairobi, Kenya.
  • "Researchwap.com is a website I recommend to all student and researchers within and outside the country. The web owners are doing great job and I appreciate them for that. Once again, thank you very much "researchwap.com" and God bless you and your business! ."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "I love what you guys are doing, your material guided me well through my research. Thank you for helping me achieve academic success."

    Sampson, University of Nigeria, Nsukka.
  • "researchwap.com is God-sent! I got good grades in my seminar and project with the help of your service, thank you soooooo much."

    Cynthia, Akwa Ibom State University .
  • "Great User Experience, Nice flows and Superb functionalities.The app is indeed a great tech innovation for greasing the wheels of final year, research and other pedagogical related project works. A trial would definitely convince you."

    Lamilare Valentine, Kwame Nkrumah University, Kumasi, Ghana.
  • "Sorry, it was in my spam folder all along, I should have looked it up properly first. Please keep up the good work, your team is quite commited. Am grateful...I will certainly refer my friends too."

    Elizabeth, Obafemi Awolowo University
  • "Am happy the defense went well, thanks to your articles. I may not be able to express how grateful I am for all your assistance, but on my honour, I owe you guys a good number of referrals. Thank you once again."

    Ali Olanrewaju, Lagos State University.
  • "My Dear Researchwap, initially I never believed one can actually do honest business transactions with Nigerians online until i stumbled into your website. You have broken a new legacy of record as far as am concerned. Keep up the good work!"

    Willie Ekereobong, University of Port Harcourt.
  • "WOW, SO IT'S TRUE??!! I can't believe I got this quality work for just 3k...I thought it was scam ooo. I wouldn't mind if it goes for over 5k, its worth it. Thank you!"

    Theressa, Igbinedion University.
  • "I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much researchwap.com, infact, I owe my graduating well today to you guys...."

    Joseph, Abia state Polytechnic.
  • "My friend told me about ResearchWap website, I doubted her until I saw her receive her full project in less than 15 miniutes, I tried mine too and got it same, right now, am telling everyone in my school about researchwap.com, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work"

    Christiana, Landmark University .
  • "I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!."

    Musa, Federal University of Technology Minna
  • "I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!."

    Ali Obafemi, Ibrahim Badamasi Babangida University, Niger State.
  • To contribute to our success story, send us a feedback or please kindly call 2348037664978.
    Then your comment and contact will be published here also with your consent.

    Thank you for choosing researchwap.com.