Appraisal of auditors effectiveness in fraud prevention in corporate organization: A study of Nigeria oil industry
Abuye Samuel Emuobosa, Odubuasi Augustine Chukwujekwu, Offor N
The study appraised auditors’ effectiveness in fraud prevention in corporate organization with focus on Nigeria oil industry. Survey research design was adopted for the study. A sample of 40 respondents was adopted for the study selected randomly amongst four major audit firms (KPMG, Ernst & Young, Egunjobi Adegbite & Co, and PKF Professional Services Limited) of oil companies in Nigeria. A 16-item questionnaire titled “Appraisal of Auditors Effectiveness in Fraud Prevention in Corporate Organization (AAEFPCO)” was used in data collection. Data collected were analyzing using mean statistics, while t-test statistics was also adopted in testing the hypotheses that guided the study at.05 level of significance. Findings of the study show that, auditors are aware of the roles they play in prevention of fraud in Nigerian oil companies. It was also discovered that, auditors’ are not effective in prevention of fraud in Nigerian oil companies. Based on the findings of the study, the researcher recommends amongst which is that, there should be continuous training and retraining on auditors on the role they need to play in prevention of fraud in Nigeria most especially amongst corporate organizations in the oil industry.