Knowledge capability and fraud risk assessment in Nigeria deposit money banks: The mediating effect of problem representation
Nigeria Deposit Insurance Corporation (NDIC) annual reports (2014–2017) suggest that the country’s deposit money banks (DMBs) have been exposed to escalating incidence of fraud and forgeries. This has hampered their capacity, efficiency and contribution to national economic growth and development. T...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Taylor & Francis Group
2021-01-01
|
| Series: | Cogent Business & Management |
| Subjects: | |
| Online Access: | http://dx.doi.org/10.1080/23311975.2021.1899450 |
| _version_ | 1819283635301253120 |
|---|---|
| author | Olusoji Olumide Odukoya Rose Shamsiah Samsudin |
| author_facet | Olusoji Olumide Odukoya Rose Shamsiah Samsudin |
| author_sort | Olusoji Olumide Odukoya |
| collection | DOAJ |
| description | Nigeria Deposit Insurance Corporation (NDIC) annual reports (2014–2017) suggest that the country’s deposit money banks (DMBs) have been exposed to escalating incidence of fraud and forgeries. This has hampered their capacity, efficiency and contribution to national economic growth and development. This study examines the capability and competence of DMB regulators to prevent and detect fraud and, at the same time, develop an effective mechanism to do so. The study employed quantitative methodology. Data was collected using questionnaires administered on 350 forensic accountants and bank examiners working with the Central Bank of Nigeria (CBN), NDIC and 15 randomly selected DMBs in Lagos. Data collected were analyzed using descriptive statistics and multivariate regression. Key results include significant positive relationship between the study variables and reduction in fraud incidence in DMBs. This result has implications for existing accounting literature on knowledge capability and competence as vehicles for fraud prevention and detection in DMBs in Nigeria. The study recommends an integrative approach to bank examination in which both forensic accountants and bank examiners are involved as permanent fixtures in fraud prevention and detection in DMBs. This will guarantee a fraud-free DMB sector. |
| first_indexed | 2024-12-24T01:34:37Z |
| format | Article |
| id | doaj.art-86a791d9054a4abfa44d417391a43cc9 |
| institution | Directory Open Access Journal |
| issn | 2331-1975 |
| language | English |
| last_indexed | 2024-12-24T01:34:37Z |
| publishDate | 2021-01-01 |
| publisher | Taylor & Francis Group |
| record_format | Article |
| series | Cogent Business & Management |
| spelling | doaj.art-86a791d9054a4abfa44d417391a43cc92022-12-21T17:22:14ZengTaylor & Francis GroupCogent Business & Management2331-19752021-01-018110.1080/23311975.2021.18994501899450Knowledge capability and fraud risk assessment in Nigeria deposit money banks: The mediating effect of problem representationOlusoji Olumide Odukoya0Rose Shamsiah Samsudin1Tunku Puteri Intan Safinaz School of Accountancy, College of Business, University Utara MalaysiaTunku Puteri Intan Safinaz School of Accountancy, College of Business, University Utara MalaysiaNigeria Deposit Insurance Corporation (NDIC) annual reports (2014–2017) suggest that the country’s deposit money banks (DMBs) have been exposed to escalating incidence of fraud and forgeries. This has hampered their capacity, efficiency and contribution to national economic growth and development. This study examines the capability and competence of DMB regulators to prevent and detect fraud and, at the same time, develop an effective mechanism to do so. The study employed quantitative methodology. Data was collected using questionnaires administered on 350 forensic accountants and bank examiners working with the Central Bank of Nigeria (CBN), NDIC and 15 randomly selected DMBs in Lagos. Data collected were analyzed using descriptive statistics and multivariate regression. Key results include significant positive relationship between the study variables and reduction in fraud incidence in DMBs. This result has implications for existing accounting literature on knowledge capability and competence as vehicles for fraud prevention and detection in DMBs in Nigeria. The study recommends an integrative approach to bank examination in which both forensic accountants and bank examiners are involved as permanent fixtures in fraud prevention and detection in DMBs. This will guarantee a fraud-free DMB sector.http://dx.doi.org/10.1080/23311975.2021.1899450forensic accountantsbank examinersknowledge capabilityproblem representationfraud risk assessmentnigeria deposit money banks |
| spellingShingle | Olusoji Olumide Odukoya Rose Shamsiah Samsudin Knowledge capability and fraud risk assessment in Nigeria deposit money banks: The mediating effect of problem representation Cogent Business & Management forensic accountants bank examiners knowledge capability problem representation fraud risk assessment nigeria deposit money banks |
| title | Knowledge capability and fraud risk assessment in Nigeria deposit money banks: The mediating effect of problem representation |
| title_full | Knowledge capability and fraud risk assessment in Nigeria deposit money banks: The mediating effect of problem representation |
| title_fullStr | Knowledge capability and fraud risk assessment in Nigeria deposit money banks: The mediating effect of problem representation |
| title_full_unstemmed | Knowledge capability and fraud risk assessment in Nigeria deposit money banks: The mediating effect of problem representation |
| title_short | Knowledge capability and fraud risk assessment in Nigeria deposit money banks: The mediating effect of problem representation |
| title_sort | knowledge capability and fraud risk assessment in nigeria deposit money banks the mediating effect of problem representation |
| topic | forensic accountants bank examiners knowledge capability problem representation fraud risk assessment nigeria deposit money banks |
| url | http://dx.doi.org/10.1080/23311975.2021.1899450 |
| work_keys_str_mv | AT olusojiolumideodukoya knowledgecapabilityandfraudriskassessmentinnigeriadepositmoneybanksthemediatingeffectofproblemrepresentation AT roseshamsiahsamsudin knowledgecapabilityandfraudriskassessmentinnigeriadepositmoneybanksthemediatingeffectofproblemrepresentation |