Internal Control System As A Means Of Preventing Fraud In Financial Institutions (a Case Study Of First Bank Of Nig Plc)

INTRODUCTIONS1.1 BACKGROUND OF THE STUDY By studying the internal controls an organizations strength and weakness can be revealed where internal controls are strong auditors would require testing the financial figures less. Adequate internal control will provide for extensive segregation of duties so that no one person handles a transaction from start to finish. The auditor will need to evaluate the effectiveness of the internal control mechanisms to determine the extent of the audit in any given assignment to achieve this a thorough knowledge and understanding of the business and th…