Fraud Detection And Control As A Tool For Enhancing Profitability In The Manufacturing Industry (A Case Study Of Pz Industry Nigerian Plc Aba, Abia State)

ABSTRACT

The study was based. on fraud detection and control as a tool for enhancing p profitability in a manufacturing industry of P.Z industry Nigeria PLC Aba. It specifically looked at the instrument of monetary and internal control, cases of fraud and how it was discovered, the causes of fraud and viays it can be prevented, benefits of fraud prevention and the extent of relationship between fraud detection and the overall profitability of the industiy. A random of 30 staffs members were chosen for the study. The study shows that reconciliation is the instrument of monetary and internal control. 90% of the respondents indicated that there have been cases of fraud in the industry. The benefit of fraud prevention strengthens the company financial clarity, communication. Finally, the relationship between fraud detection and the overall profitability were positive and significantly related while the relationship between fraud detection and volume of sales were also positive and, significantly related. The following recommendation where made. The management should establish staff training centers for the personnel starting from the top of the accounting hierarchy to the bottom as a part of induction programmes for new staff.