The Role Of Professional Accountant In Fraud Detection And Prevention In The Banking Sector Of Nigeria (A Study Of Some Selected Banks)

ABSTRACT

 This study was carried out to ascertain the role of professional accountant in fraud detection and prevention in Nigeria banking sector with reference to Eco bank and Access bank plc in Umuahia. Primary data obtained from administration of questionnaire was analyzed using cumulative frequency/percentage, and simple regression analytical tool. The empirical analysis result revealed that effectiveness of professional accountant has signfl cant effect on fraud detection and prevention and also indicate that Fraud has sign fl cant effect on Bank profit. It was recommended that appropriate sanctions should be applied when fraud is detected. Where persecution is considered to be the appropriate sanction, proper accounting procedures need to be followed during investigation and trained experts like the Professional Accountants should conduct the investigation, where there is evidence offraud, appropriate disciplinary should be implemented. Criminal prosecution may also be instituted as well as civil action to recover any losses of customer 's money or property. Eco bank and Access bank is hereby encouraged to learn from what others are doing on fraud prevention, detection and investigation.