ROLE OF AUDITORS IN PREVENTION OF FRAUD IN BANKING INDUSTRY OR BANKS

Chapter one contains the introduction and analysis of fraud. So many people define fraud in different way because of its inexplicit meaning. It also concentrate on the limitation, objectives and importance of auditing in our banking industry While chapter two deals with the definition of Auditors and their duties in banking industry. It also discussed about various types, causes, effects of frauds in banks as well as the role of Auditors to hip it in the bud. The paper equally looked into the means of preventing or reducing the incidence of fraud in the banking industry or operation. From the analysis, it was established that there are incidence of fraud in our banks. It was equally discovered that fraud occurs more frequently on current account department than in any other departments and this is normally done through forged cheques. It was also discovered that bank frauds can hardly succeeded without the aid of bank staff. Finally, it was discovered that frauds have effects in operation and progress of the frauds have effects in operation and progress of the banks despite the control technique that have been instituted by the management of the bank.