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Internal audit as a panacea for effective fraud control in local government administration

 Department: Accountancy  
 By: usericon chesco1  

 Project ID: 6813
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This is to examine the impact of internal audit as a panacea for effective fraud control in local government administration in the case of Lokoja Local Government Area, Kogi State. The problem of this research is that assets of the local government are exposed to all forms of risks due to the lack of proper audit of the financial reports of the local government, the ineptitude and inefficiencies and the complete lack of competence by the staff of the local government. The objective is to determine the level of efficiency put up by the local government in safely guiding its assets. To determine the level of efficiency put up by the staff of the Local Government. From the methodology, the survey design method of data collection was used. Population of 530 staff based on the information/ data obtained. With a sample of 228 copies, questionnaires were administered only 194 were retrieved. Based on the Finding we discover that due to effective and efficient internal Audit department recently has made it possible for effective Fraud Control in Lokoja Local Government Area Council of Kogi State. Therefore the researcher recommended that Auditors should establish an Internal Auditing Council to enable them to keep up to internal standards of internal auditing. A person whose integrity is in doubt should not be allowed as staff of the Internal Audit Department....
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