ACCOUNTING INFORMATION SYSTEM AND FRAUD MITIGATION IN PUBLIC SECTOR IN NIGERIA
Keywords:
Accounting, Information System Fraud, MitigationAbstract
The study investigated the relationship between accounting information system and fraud mitigation in public enterprises in Nigeria. determine the relationship between accounting system and prevention of frauds/errors in public enterprises Nigeria; ascertain the relationship between control activities/monitoring and prevention of frauds/errors in public enterprises Nigeria. Interpretative philosophy was adopted while descriptive research design was adopted for the study. The population of the study consisted of twenty six (26) public enterprises in Rivers State, Nigeria as at the end of 2020. The unit population was the staff of the public enterprises from departments of Finance and Accounts and internal audit for each of the selected public enterprises. Probability sampling technique of simple random sampling was used to determine the sample for the study. Using Taro Yamene method a sample of 24 public enterprises and 24o respondents were selected for the study. Copies of questionnaire were used for data gathering. Univariate, bivariate and multivariate techniques was used for data analysis. The result of the study shows that a positive insignificant relationship between accounting system and prevention of frauds/errors in public enterprises Nigeria. The study recommends among others that government should put in place a functioning of internal control system that needs the right control make-up, with control performance clarified in detail at each point of public governance. This should contain: top level reviews; appropriate activity controls for different sectors or segments; neutral controls; looking for conformity with disclosure restrictions and follow-up on noncompliance; a system of authorisations; confirmation and reconciliation. It also needs appropriate separation of jobs and that the workforce is not assigned contradictory schedules as a means of mitigating the high level of fraud in public enterprises in Nigeria.