Assessing the relationships between problem representation, capabilities and task performance fraud risk assessment by Nigerian deposit money banks' fraud investigators

The purpose of the study is to investigate the mediating role of fraud-related problem representation on the relationship between knowledge, skills, mind-set and ethics capability constructs of fraud investigators and task-performance fraud risk assessments within Nigeria deposit money banks. Extensive literature in auditing, forensic accounting, banking and related fields was reviewed for thorough understanding of past, present and future trends in the study area. The research employed quantitative methodology. A total of 450 questionnaires were administered by simple random sampling on forensic accountants and bank examiners within CBN, NDIC and 20 deposit money banks, of which 338 questionnaires were returned, representing a 75% response rate. Current versions of PLS-SEM and IBM-SPSS were deployed for data cleaning, analyses and validation. Thirteen out of nineteen hypotheses were evaluated through PLS-SEM algorithm and bootstrapping, whilst Mann-Whitney U Test was deployed to evaluate six hypotheses related to differences in ranking between forensic accountants and bank examiners. Results provide verifiable supports for twelve of the hypothesised relationships and seven deviations from previous literature. Knowledge and skills capabilities and fraud-related problem representation were significantly positively related to task-performance fraud risk assessment. Furthermore, knowledge, skills, mind-set and ethics of fraud investigators were significantly positively related to fraud-related problem representation, indicating they are essential requirements for enhancing fraud risk assessment within banks. However, findings did not provide support for differences in ranking between groups, as forensic accountants were not found to possess significantly higher levels of knowledge, skills, mind-set, ethics and fraud-related problem representation than bank examiners. Consequently, as theory of planned behaviour prescribed, fraud investigators need to design appropriate procedures for risk assessment, especially when institutions is tainted by weak internal control and risk management structures. The study also recommends integration of forensic accountants and bank examiners as permanent fixtures for fraud prevention and detection

A conceptual examination of the effect of problem representation on mindset and fraud risk assessment in the Nigerian deposit money banks

Banks globally are known for their role of financial inter-mediation and when these functions are effectively and efficiently performed, the banking sector flourishes, facilitate economic growth and development. However, fraud has been established as a global threat to the viability of companies and organizations including financial institutions. Technological advancements and continuous introduction of new electronic financial products into banking operations and service delivery, has heightened the propensity for banking fraud. Subsequently, persistent incidence of fraud and forgeries in banks, in addition to constituting a threat to the continued survival and stability of the sector, hampers national economic developments and growth. The study’s main objective is to evolve a functional and effective mechanism for minimizing the incidence of fraud and forgeries within the Nigerian deposit money banks. Subsequently, this study evolves an abstract structure on the intervening effect of problem representation on the forensic accountant and banking examiner’s mindset capability and competence that is, fraud risk assessment which can be applied for prevention and detection of fraud within the deposit money banks. This study aims to disclose the affinity between the three constructs. Findings contribute to existing literature on forensic accounting, banking examination, mindset capability requirement, problem representation and fraud risk assessment of regulators regarding prevention and detection of fraud within deposit money banks

Corporate governance, sustainability initiatives and firm performance: theoretical and conceptual perspectives

The objective of this paper is to generate a discuss as to the degree to which corporate governance and sustainability initiatives are predictor variables for firm performance, with the premise that firms have to be deliberately placed for them to harness the prospects available in their immediate environments. In relation to this study, the stakeholders, agency and institutional theories form the bedrock for the underpinning theories used for formulating the research framework with respect to the relationships among firm performance, corporate governance and sustainability initiatives respectfully. Less research efforts are involved in this area of study in the less developed nations, particularly with respect to the impacts of corporate governance on the environmental and social initiatives as well the financial and non-financial corporate performances of firms. Therefore, scholars and practitioners are encouraged to advance the body of knowledge in this study area for the global enhancement of productivity, as the review has conceptualised the integration of corporate governance and sustainability initiatives as strategic tools for enhancing firm performances locally and internationally

Knowledge capability and fraud risk assessment in Nigeria deposit money banks: The mediating effect of problem representation

Nigeria Deposit Insurance Corporation (NDIC) annual reports (2014-2017) suggest that the country's deposit money banks (DMBs) have been exposed to escalating incidence of fraud and forgeries. This has hampered their capacity, efficiency and contribution to national economic growth and development. This study examines the capability and competence of DMB regulators to prevent and detect fraud and, at the same time, develop an effective mechanism to do so. The study employed quantitative methodology. Data was collected using questionnaires administered on 350 forensic accountants and bank examiners working with the Central Bank of Nigeria (CBN), NDIC and 15 randomly selected DMBs in Lagos. Data collected were analyzed using descriptive statistics and multivariate regression. Key results include significant positive relationship between the study variables and reduction in fraud incidence in DMBs. This result has implications for existing accounting literature on knowledge capability and competence as vehicles for fraud prevention and detection in DMBs in Nigeria. The study recommends an integrative approach to bank examination in which both forensic accountants and bank examiners are involved as permanent fixtures in fraud prevention and detection in DMBs. This will guarantee a fraud-free DMB sector

The effect of fraud related problem representation on skills and fraud risk assessment in the Nigerian banking sector

In the era of globalisation, the incidence of banking fraud is a persisting fundamental problem with adverse consequences for financial intermediation, economic development, and growth. The Nigerian banking sector is not an exemption. The introduction of electronic banking services and advancements in technology have further created new challenges for prevention and detection of fraud in the sector. This paper develops a conceptual framework on the mediating influence of fraud related problem representation on skills requirement and task performance fraud risk assessment which can be deployed by forensic accountants and banking examiners working as regulators of banks to prevent and detect fraud. The paper expects to reveal an essential relationship between these variables. The paper contributes to the literature on forensic accounting, enhanced capability (skills requirement, fraud related problem representation) and competence (fraud risk assessment) by forensic accountants and banking examiners for fraud prevention and detection in the Nigerian banking sector

The effect of fraud related problem representation on skills and fraud risk assessment in the Nigerian banking sector

In the era of globalisation, the incidence of banking fraud is a persisting fundamental problem with adverse consequences for financial intermediation, economic development, and growth. The Nigerian banking sector is not an exemption. The introduction of electronic banking services and advancements in technology have further created new challenges for prevention and detection of fraud in the sector. This paper develops a conceptual framework on the mediating influence of fraud related problem representation on skills requirement and task performance fraud risk assessment which can be deployed by forensic accountants and banking examiners working as regulators of banks to prevent and detect fraud. The paper expects to reveal an essential relationship between these variables. The paper contributes to the literature on forensic accounting, enhanced capability (skills requirement, fraud related problem representation) and competence (fraud risk assessment) by forensic accountants and banking examiners for fraud prevention and detection in the Nigerian banking sector