Academic literature on the topic 'Computer Assisted Audit Tools and Techniques; Fraud; Deposit Money Banks'

This study examined the effect of forensic accounting techniques on fraud prevention in Nigeria. The study adopted the ordinary least square technique to assess specifically, the effect of computer assisted audit techniques, Ratio Analysis techniques and Trend Analysis technique on fraud detection/prevention in Nigerian banks. The outcome of the study revealed that there is a causal linkage between application of forensic accounting techniques and fraud detection and prevention in banks operating in Nigeria except trend analysis technique which showed no causal linkage with fraud detection/prevention. We therefore, recommend that frequent utilization of forensic audit services will significantly help in the detection, prevention as well as reduction of incidences of fraud in businesses. Furthermore, Nigeria deposit money banks should encourage the use of forensic accounting techniques to curtail fraudulent malpractices in its operations. Other robust techniques for fraud detection/prevention not considered in this study should be examined and given a chance as the three techniques considered in this study explained less than twenty percent (19.94%) of variation in fraud prevention in Nigerian banks, leaving over eighty percent to other techniques not captured in this study.

<strong>Abstract</strong> Businesses across the world have seen tremendous changes as a result of information technology and have drastically altered the way transactions are documented, tracked, and reported in the accounting profession. The study investigated the influence of Computer Assisted Audit Tools and Techniques (CAATTs) on fraud detection in Nigerian Deposit Money Banks. Survey research design was adopted and a structured questionnaire was used to gather data from respondents through a conveniently sampling technique. 198 auditors and managers in the big-four audit firms and the twenty listed deposit money banks, were sampled. The data gathered was presented using descriptive statistical tools (frequency and percentages) and analyzed using the Partial Least Square-Structural Equation Modeling (PLS-SEM), with the aid of the SmartPLS-3 software. The result of the analysis revealed a significant and positive effect of CAATTs components on fraud detection (&beta;=0.458, t = 6.172, p &lt; 0.05). The study concluded that CAATTs significantly influence the detection of fraud, among Deposit Money Banks in Nigeria. Therefore, it was recommended that stakeholders should implement policies that will drive the use of CAATTs for forensic auditing activities in the Nigerian banking sector. Furthermore, the government should support the efforts of the banks in fighting fraud by facilitating whistle-blowing policies and encouraging the creation of fraud-hotlines in the banks.

<strong>Abstract</strong> Innovations in information technology has increased the demand for computer-assisted approaches in carrying outaudit functions in organizations. In the banking industry, the use of Computer Assisted Audit Tools and Techniques (CAATTs) by auditors in combating fraud has become necessary, in the face of emerging challenges. Therefore, this study seeks to assess perceptionson the adoption of CAATTs in fraud detection among Deposit Money Banks (DMBs) in Nigeria. A structured questionnaire on the study variables was developed and a research survey approach was used to harvest information from auditors and audit managers in 20-listed DMBs and the big-four audit firms in Nigeria. One hundred and ninety-nine copies of the questionnaire were properly filled and the data was analyzed using frequency tables, histogram, bar-chart and the Kruskal-Wallis test, all with the aid of the Statistical Package for Social Science (SPSS). The result of the analysis revealed a moderate adoption of CAATTs among the banks. Further results indicated that the educational level of auditor is a major social-demographic variable influencing adoption of CAATTs. The study concludes that educational exposure is a determining factor in the adoption of CAATTs for fraud detection among banks in Nigeria.The study recommends that policymakers and practitioners in the banking sector should include CAATTs into present auditing practices and future laws.

Innovations in information technology have increased the demand for computer-assisted approaches in carrying out audit functions in organizations. In the banking industry, the use of computer-assisted audit tools and techniques (CAATTs) by auditors in combating fraud has become necessary, in the face of emerging challenges. Therefore, this study seeks to assess perceptions on the adoption of CAATTs in fraud detection among deposit money banks (DMBs) in Nigeria. A structured questionnaire on the study variables was developed and a research survey approach was used to harvest information from auditors and audit managers in 20-listed DMBs and the big-four audit firms in Nigeria. One hundred and ninety-nine copies of the questionnaire were properly filled and the data were analyzed using frequency tables, histogram, bar-chart, and the Kruskal–Wallis test, all with the aid of the Statistical Package for the Social Science. The result of the analysis revealed a moderate adoption of CAATTs among the banks. Further results indicated that the educational level of auditor is a major social-demographic variable influencing adoption of CAATTs. The study concludes that educational exposure is a determining factor in the adoption of CAATTs for fraud detection among banks in Nigeria. The study recommends that policymakers and practitioners in the banking sector should include CAATTs into present auditing practices and future laws.

Banks play a vital role in the intermediation of financial resources in the financial system. However, the recurrent nature of fraud has made deposit money banks less effective. The study aims to examine the effect of forensic accounting on the detection of occupational fraud in Nigerian deposit money banks with a specific focus on data mining techniques, computer-assisted audit techniques, and trend analysis. Data were collected from primary sources using a well-structured questionnaire. Data were analyzed using descriptive statistics and ordinary least square (OLS) regression. The result shows that R2 and R2 Adjusted has the value of 0.917484 and 0.901904. The study then conclude that data mining technique has a significant positive effect on occupational fraud detection while the computer-assisted audit technique has a significant positive effect on occupational fraud detection and that trend analysis has a significant positive effect on occupational fraud detection. This finding implies that the detection of occupational fraud will be enhanced when forensic accounting technique is employed. The study therefore recommends, that deposit money banks should enhance the internal control systems with data mining techniques, computer-assisted audit techniques, and trend analysis feature to uncover asset misappropriation fraud in Nigerian deposit money banks by the central bank of Nigeria.