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The Role of Forensic Audit on Management Frauds in Nigerian Deposit Money Banks
Olofinlade Samuel Oluwapelumi
Issue:
Volume 6, Issue 3, September 2021
Pages:
69-75
Received:
22 June 2021
Accepted:
8 July 2021
Published:
29 July 2021
Abstract: This study investigates the role of forensic audit on management frauds in Nigerian deposit money banks’. Specifically, the paper examines the nexus that exists between forensic audit/accounting mechanisms on prevention of management frauds in Nigeria deposit money banks. The data for this paper were obtained from secondary source which were gathered from the audited financial statements as well as accounts of some of the listed deposit money banks in Nigeria. The study is descriptive and highly empirical as it involves the use of panel regression technique as tool of analysis. The result findings from regression analysis reveal from hypothesis one that there exist a meaningful and positive nexus between forensic audit and prevention and curbing of management fraud in Nigeria deposit money banks, also findings outcome from hypothesis two reveal that there is a strong and positive nexus between forensic audit mechanism and faithful representation of financial statements while the third hypothesis establish a strong correlation between financial accounting and understandability of financial statements. This affirms that forensic accounting/audit mechanisms are related tools towards preventing management frauds, faithful representation of financial records and understandability of financial statements. The study therefore recommends that the financial regulators as well as deposit money banks in Nigeria should undergo training and re-training of their strategic level management and staff on the intricacies of forensic accounting/audit so as to maximize shareholders wealth and be fair to other stakeholders.
Abstract: This study investigates the role of forensic audit on management frauds in Nigerian deposit money banks’. Specifically, the paper examines the nexus that exists between forensic audit/accounting mechanisms on prevention of management frauds in Nigeria deposit money banks. The data for this paper were obtained from secondary source which were gather...
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Determinants of Credit Default of Micro Finance Institution Borrowers: The Case of Hawassa City, Sidama Region, Ethiopia
Issue:
Volume 6, Issue 3, September 2021
Pages:
76-84
Received:
15 July 2021
Accepted:
23 July 2021
Published:
2 August 2021
Abstract: The study examined the determinants of credit default by Micro Finance Institution borrowers the case Hawassa city. The researcher used a quantitative research approach with an explanatory research design to establish the effect of the independent variables on the dependent variable. The primary data were collected from 360 sampled borrowers of Micro Finance Institutions using a structured questionnaire. Both descriptive and inferential statistics analysis were done using SPSS version 21.0. Descriptive statistics were used to identify whether there is a large variance in data. The study also used correlation analysis to see the degree variation and direction of relationship among variables. Inferential statistics were used to test hypotheses. The researcher employed logit model to identify the impact of explanatory variables on dependent variable. The results of the study revealed that ten independent variables incorporated in the model that included gender, education, age, lack of experience, having other sources of income, lack of financial planning skill, loan diversion rate, repayment period, involvement in service sector business activity, and loan follow up have a statistically significant impact on credit default. Based on the findings of the study, the researcher forwarded possible recommendations for the Micro Finance Institutions to improve credit collection of borrowers more than the current status.
Abstract: The study examined the determinants of credit default by Micro Finance Institution borrowers the case Hawassa city. The researcher used a quantitative research approach with an explanatory research design to establish the effect of the independent variables on the dependent variable. The primary data were collected from 360 sampled borrowers of Mic...
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Development Finance Strategies, Agricultural Growth and Poverty Reduction in Emerging Economies: Evidence from Nigeria
Edward Ogbonnia Eleje,
Eze Okechukwu Agha,
Abel Haruna Habila
Issue:
Volume 6, Issue 3, September 2021
Pages:
85-93
Received:
1 December 2020
Accepted:
27 July 2021
Published:
6 August 2021
Abstract: Development finance issues have appeared very topical in extant literatures and notable political cum socioeconomic discussions in recent time due basically to its desideratum and criticality to aggregate development of emerging economies. This article investigated development finance strategies and their effects on agriculture and poverty reduction in Nigeria. Specifically, the study examined the impact of agro-financing on agricultural development, and; the impact of industrial financing on poverty eradication in Nigeria. A computer based regression and correlation analysis aided by the IBM SPSS software version 23 was employed to test two formulated hypotheses of the study. Based on the findings from the empirical evaluation, the researcher made two major conclusions that; agro-finance does not have significant positive effect on agricultural development in Nigeria. Secondly, industrial finance does not have significant positive effect on poverty eradication in Nigeria. In line with these conclusions, the study recommends that government should place higher priority on directed credit control scheme such as ACGSF to enable such schemes yield the desired result of improving the agricultural sector and poverty reduction. Secondly, directed credit programmes to SMEs like small and medium enterprise equity investment scheme (SMEEIS) should be supervised adequately and made to work effectively. Lastly, proactive surveillance should be activated by government to checkmate unhealthy practices by lending institutions which could impinge lending integrity and dampen the trust of investors.
Abstract: Development finance issues have appeared very topical in extant literatures and notable political cum socioeconomic discussions in recent time due basically to its desideratum and criticality to aggregate development of emerging economies. This article investigated development finance strategies and their effects on agriculture and poverty reductio...
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