Effect of Internal Control Attributes Practices on Fraud Management in Nigerian Deposit Money Banks
DOI:
https://doi.org/10.5281/zenodo.14800273Keywords:
internal control attributes, fraud management, monitoring activities, control environment, nigerian deposit money banks, information technologyAbstract
The study examines the effect of internal control attributes (control environment, monitoring and information and communication) on fraud management in Nigerian Deposit Money Banks. With increasing fraud risks and evolving fraud schemes, the role of internal control systems in safeguarding organizational assets, ensuring compliance, and improving operational efficiency is critical. The study adopts a descriptive research design, using a cross-sectional approach to examine how control environment, monitoring, and information communication practices influence fraud management. Findings indicate that monitoring activities play the most significant role in mitigating fraud risks, followed by the control environment and information and communication practices. The results highlight the importance of robust internal controls in fostering organizational resilience against fraud. It is recommended that Banks should invest in automated monitoring systems, senior management should foster a culture of transparency, ethical behavior, accountability and organizations must establish secure and efficient communication channels.
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Copyright (c) 2025 Muhammed Bulama, Suleiman Akwuodo Salihu Aruwa, Musa Adeiza Farouk
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