PROPOSAL
The issue of fraud has become a serious food for
through fro many corporate bodies in recent time. Consequently more time is
spent on board meeting in an attempt to find situation the perastert fraudulent
practice among management and non management staffs.
And frauds is a wrongful or criminal deception
intends to result in financial or personal gain, while fraud is a deliberate misrepresentation
while cause another person be suffer damage. Fraud occurs when someone gains something’s
of value usually money of property.
While small scale industries are defined by the Nigeria
industrial policy as those with total investment between one hundred thousand
naira (100,000.00) and two million naira (2m) exclusive of land but including
working capital.
And in the leyman duration, small scale is a
business that is start with little capital. It is therefore evident from the
above that most of the big company complements today started as small and many
as one man business like A.G levels nig. Plc, john holl plc lever brothers nig,
pls, pz industries plc and today they exist as multinational mega industries.
The contribution of small scale industries to the economy are:
v Promotion of even development and fair distribution
of industrial activities throughout the country.
v Rapid expansion and diversification of the industries
and before investment.
v Transformation and modernization of traditional
industries.
In order to prevent and detect fraud in small scale
industries god internal control. Provide a working environment in which good
employees are not tempted to do something they would not ordinarily do.
And internal
control includes the prevention of potential problems as well as the early
detection. And correction of actual problem should they occur.
The most common type of fraud by employed is
frictition lean other common forms of fraud are the use of in transit or
suspense account and kickbacks.
TABLE OF
CONTENTS
Title page
Dedication
Declaration
Certification
Acknowledgement
Table of content
CHAPTER
ONE
1.0
introduction
1.1
the
background of the study
1.2
scope of the
study
1.3
significance
of the study
1.4
the problem
of the study
1.5
limitation of
the study
1.6
research hypothesis
CHAPTER
TWO
2.0
literature
review
2.1
categories of
fraud
2.2
farm of fraud
2.3
detection of
frauds
2.4
prevention of
frauds
2.5
frauds
prevention in the banking industry
CHAPTER
THREE
3.0
research
methodology
3.1
population distinction
3.2
population
size
3.3
sampling
method
3.4
data
collection method
3.5
da1ta
presentation and analysis
CHAPTER
FOUR
4.0
analysis and
presentation of result
4.1
brief history
of case study
4.2
data
presentation and analysis
4.3
testing of
hypothesis
4.4
discuss of
test result
4.5
discussion of
test result
CHAPTER
FIVE
5.0
summary,
conclusion and recommendation
5.1
summary of
findings
5.2
conclusion
5.3
Recommendation
References
Appendix
CHAPTER ONE
INTRODUCTION
The term fraud, refer to an international
misrepresentation of financial information by one of more individual among
management employees or third parties. The issue of fraud has become a serious
food for times. Consevently more time is spent on board meeting in an attempt
to find section to the presitent fraudulent practice among management and non
management staffs. The issue of standard transaction practice in any
organization should not be left lying occurs in any establishment will
determine the long term survival and growth of the company. If not handled with
care it can lead to corporate failure. The resporability for the prevention and
detection of fraud rests within management through effective implementation and
continues operation of an adequate system of internal control. The internal
control system is defied in the audit standard and guideline approved by the
council that the association of certified accountant (ACA as the whole system
of control, financial and otherwise established by the management in order to
carry on the business of the enterprises in orderly and efficient management
and also adherence to policies of the management.
The internal control of an organization can be in
following
i.
organization
control (source) (Ayeni A.P, 2007)
ii.
physical
control
iii.
segregation
of duties
iv.
personnel
control
v.
supervision
control
vi.
Arithmetic
and accounting control.
SCOPE OF
THE STUDY
The small scale industry covers a relation scope
and in a project of this nature a large representations sample of banky
government or private institution and compare should have been studied. In
order to get an under knowledge of the management procedure and techniques
employed in the industries to prevent and detect fraud,
The study has however been confirmed to the small
industries in Oyo state Ibadan
and its environment. While a descriptive and theoretical approach have been adopted
in the analysis of office field work approach have been adopted. It is the
intention of the twitter to focus on internal control system in the small scale
industries.
PROBLEM
OF THE STUDY
In carry out the study the following problems were
encountered.
i.
For effective
manipulation: the topic was restricted to small scale industries organization.
These industries are both governmentally and privately owned because of this and
the secretive nature of most of the private and government industries, certain
factual information reaccured were considered very sensitive.
ii.
In choosing
the industries, effort were made to secure industries with those product on
hand which will reflect their organization techniques few met up with this
reeavirement where this is possible. However very little corporate was received
from the officer notwithstanding with all these problems it was possible to
highlight the performance of the industries.
THE
BACKGROUND OF THE STUDY
The advance learners dictionary defined fraud as
criminal reception an act of a particular person or things that receives.
According to the international auditing guidelines, fraud is defined as
irregularities involving the use of people to obtain an illegal or unjest
advantage which may involve the following.
1.
Supposing or
transactions from records of document.
2.
Misapplication
of accounting policies, if this is intentional and deceive full.
The issue of fraud ahs become a serious food for
through for many corporate bodies in the recent times. Consequently more time
is spent on toward meeting in an attempts to find solution to the persistent
fraudulent practice among management and non management staffs.
The issue of standard transaction practice in any
organization should be left lying low. The freavency with which it be rears is
highly leads in any growth of the company and if not handed with care can lead
to corporate failure. In the recent years, the general and of the essential
product is increasing fairly in Nigeria
and this will mentally continue. Both the federal, state and local government
carrot fold their arms then resulted into various measures like the
introduction of small scale industries in Nigeria.
Also, in order to meet such unprecedented demand of
a reasonable cost and efficiently here is need to employ fraud prevention and
reflection techniques in organization so as to prevent them from dying off.
THE
PROBLEM OF THE STUDY
In carryout of the study the following problems
were encountered.
1.
For effective
manipulation, the topic was restricted to small scale industries organizations.
These industries are both government and private owned. Because of this and the
secretive nature of most of the private and government industries, certain
factual information required were considered very sensitive and confidential
started that there was no adequate structured or ground to be developed to
improve performance in the industries.
2.
In choosing
the industries, effort were made to secure industries which new product on hand
which will reflect their organization techniques, few met this requirement,
where this was possible very little co-operation was received from the
officers. Not withstanding with all these problems, it was possible to
highlight the performance of the industries. The study was conducted and a set
of recommendations to help in minimizing fraud in the small scale industries.
THE
PROBLEM OF THE STUDY
In carryout the study, the following problem were
encountered.
1.
for effective
coverage, the topic was restricted to small scale organization. These
industries are both government and private owned. Because of this and the secretaries
nature of most of the private and government industries, certain factual information
received were considered very creative and confidential issue that could not be
obtained factual information received were considered very sanative and
confidential issue that could not be obtained. The industries stated that there
was no adequate structure on ground to be developed to improve performance in
the or industries.
2.
in choosing
the industries, effort were made to secure industries with new products on hand
which will relect their organization techniques few me it this requirement,
where this was possible very little cooperation was recleved from the officers.
Not withstanding all these problem, it was possible to highlight the performance
of the industries. The study was conducted a set of recommendations to help in
minimizing fraud in the small scale industries.
SIGNIFICANCE
OF THE STUDY
All organizations whether profit oriented or not
operate within conditions of resources constrafic. As a result, various steps
are taken and procedures established to ensure that fraud in a small scale
industries are prevented and detected in achieving and maximizing the
organization goals. Primarily among the steps. Taken to the setting up a structure
of internal control within which on orderly operation can take place.
LIMITATION
OF THE STUDY
The limitations to the study are the factor impending
the researchers work and such factors include time duration of the semester,
financial constraint and inaccessibility of relevant and sufficient data. These
factors militated against the researches in such a way that this resulted in
the researchers inability to do the work efficiently. The lack of adequate
financial support also delayed researchers to do with within a reasonable time.
Lastly, the doing distance of the company has caused
the inability or the researchers to travel down to the companies in order to
get data on how to detect and prevent fraud in small scale industries. The
researchers will limit the study to Adegoke grove companies in Ilorin.
SCOPE OF
THE STUDY
The small scale industries covers a national scope
and in a project of these nature a large representatives sample of bank,
government or private institution and compare should have been studied. In
order to get an under knowledge of the management procedure and techniques
employed in the industries. The study has however been confirmed to the small
industries in Oyo state Ibadan
and its environment.
While a descriptive and theoretical approach been
adopted in the analysis of office organization and management procedures a more
practical field work approach have been adopted. It is the intention of the
writer to focus on internal control system in the small scale industries.
An in-depth was not possible for the following
reasons.
1.
The shortness
of time available for the project.
2.
Lacking detailed
information from the industries
RESEARCH
HYPOTHESIS
Hypothesis simply means a conjunction or tentative
statement or an assertion or an ideal which is thought suitable to explain the
fact about something or preposition of what can be seen in the world of reality
and this production is made from the world of theory and natural phenomerials.
The essence of hypothesis in this study is to
conduct test into the validity of the following found where internal control
system is faulty and proper internal checks is lacking.
Hi: that fraud is basically due to complex nature
of accounting system.
Hi: have been taken as the probability that the will
hypothesis Ho is true or valid.
Ho: this is to test whether detection and
prevention of fraud will not help the industry to safe it resources from
pilferage as a result of weak internal control system.
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