FRAUD AND FINANCIAL MALPRACTICE AS A LEADING FACTOR IN BUSINESS FAILURE

FRAUD AND FINANCIAL MALPRACTICE AS A LEADING FACTOR IN BUSINESS FAILURE (A CASE STUDY OF NIGERIAN TELECOMMUNICATION [NITEL] ENUGU)

ABSTRACT: The study is concerned with an investigation into fraud and financial malpractices as a leading factor in business failure and eventual liquidation. A case study of Nigerian Telecommunication Limited (NITEL). By way of background, the study commenced with an overview of the business environments and its effects on business growth and survival. Using NITEL as a case study, it was established that inspite of its privatization, NITEL is still saddled with the problem of bad image arising mostly from fraudulent practices.

With the above stated problem, the specific objectives of the study were:

1.      To ascertain why NITEL Plc is still saddled with problem.

2.      To determine whether there is significant weakness in NITEL internal control system.

Data collected were analysed using weighted mean and ranking order.  Major findings of the study were:

(i)      The study revealed that the NITEL is unable to achieve its objective

(ii)      It was also revealed that fraud and financial malpractices was the most important factors that has contributed poor performance of NITEL.

At the end, the following recommendation were made:

(i)      NITEL management should design appropriate policies.

(ii)      The organisation should also strengthened its internal control system.

LIST OF TABLE

1. Sample size determination and allocation of questionnaire
2. Factors responsible for non-achievement of objectives by NITEL
3. Factors responsible for fraudulent malpractices in NITEL
4. Factors in effective internal control system in NITEL
5. Impact assessment of factors in fraud elimination / minimization

TABLE OF CONTENTS

CHAPTER ONE

Introduction                                                                                     1

1. Background of study                                                   1
2. Statement of problem                                                 4
3. The purpose of study                                                  5
4. Scope of study                                                            6
5. Research question                                                               6
6. Significance of the study                                                      7

CHAPTER TWO

Review Of Literature                                                             9

1. Definition of distress/failures of a corporate                      9
2. Causes of business failure                                        12
3. Summary of related reviewed literature                    29

CHAPTER THREE

Research design and Methodology                                             30

1. Research design                                                                   30
2. Area of study                                                               30
3. Population of the study                                                        30
4. Sample size and sampling procedure                                31
5. Instruments for data collection                                            34
6. Validity of the instrument                                            34
7. Reliability of the instrument                                        35
8. Method of administration of the research instrument        35
9. Method of data analysis                                                       36

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FRAUD AND FINANCIAL MALPRACTICE AS A LEADING FACTOR IN BUSINESS FAILURE (A CASE STUDY OF NIGERIAN TELECOMMUNICATION [NITEL] ENUGU)