The Role of Auditors in Fraud Detection, Prevention and Reporting in Nigeria

In: Business and Management

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University of Nebraska - Lincoln

DigitalCommons@University of Nebraska - Lincoln
Library Philosophy and Practice (e-journal)

Libraries at University of Nebraska-Lincoln

11-2-2010

THE ROLE OF AUDITORS IN FRAUD
DETECTION, PREVENTION AND
REPORTING IN NIGERIA
Ayobami Oluwagbemiga Oyinlola Mr
Tai Solarin University of education,Ijagun, Ijebu-Ode, oluwagbemiga@in.com

Follow this and additional works at: http://digitalcommons.unl.edu/libphilprac
Part of the Library and Information Science Commons
Oyinlola, Ayobami Oluwagbemiga Mr, "THE ROLE OF AUDITORS IN FRAUD DETECTION, PREVENTION AND
REPORTING IN NIGERIA" (2010). Library Philosophy and Practice (e-journal). Paper 517. http://digitalcommons.unl.edu/libphilprac/517 THE ROLE OF AUDITORS IN FRAUD DETECTION, PREVENTION AND REPORTING IN
NIGERIA

OYINLOLA OLUWAGBEMIGA oluwagbemiga@in.com Tai Solarin University of Education, Ijagun , Ijebu-ode Ogun State.

Abstract
This study investigates the role of auditors in the detection, prevention and reporting of fraud. Data were obtained from
184 respondents in Nigeria. The findings revealed that the respondents are very concerned about the problem of fraud.
In addition, the respondents placed very high expectation on auditors’ duties on fraud prevention and detection. This perception is in contrast with the stated primary objective of an audit, as stipulated in ISA 200, which merely required auditors to form an opinion on the financial statements, but not of fraud detection.
Keywords: Auditors, fraud, detection, prevention

Introduction
That an auditor has the responsibility for the prevention, detection and reporting of fraud, other illegal acts and errors is one of the most controversial issues in auditing, and has been one of the most frequently debated areas amongst auditors, politicians, media, regulators and the public (Gay et al…...

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