FRAUD DETECTION AND CONTROL IN SMALL AND MEDIUM SCALE ENTERPRISES

ABSTRACT

This research project was embarked to check Fraud Detection and Control in Small and Medium Scale Enterprises (A Case Study of selected Business in IkotEkpene). The main objectives of this study areTo examine different types of fraud committed in Small and Medium Scale Enterprises, to find out the causes of fraud in Small and Medium Scale Enterprises, determine the nature of this fraud in Small and Medium Scale Enterprises whether they are fundamental or material and to find out the steps that can be taken to eliminate fraud in Small and Medium Scale Enterprises. The population of this study consists of thirty (35) staff of selected businesses. The sample size of twenty-eight (32) was obtained using the Yaro Yamani’s formula. The study employed the descriptive and exploitative research design and the uses survey method in gathering the opinions and view of different respondents (staff) from the selected business enterprises. The simple percentage was used as statistical tool to help analyze data gathered from the study. The study revealed the following findings; that the major type of fraud committed in small and medium scale enterprise is workers misclassification. That the major causes of fraud in small and medium scale enterprises is dishonesty of staff. That the nature of frauds committed in small and medium scale enterprises are fundamental and materials. That major step to eliminating fraud in small and medium scale enterprises is having a good system of internal control check. The study recommended that Management of small and medium scale enterprises should ensure that effective internal control system is put in place to monitor the compliance with the set rules and regulations of the business entity. Staff should be motivated by prompt payment of salary and wages while promotion, encouragement and compensation should be given to honest staff.as this will reduce the tendency of committing frauds.

TABLE OF CONTENTS

Title page

Approval Page

Certification

Dedication

Acknowledgements

Abstract

List of Tables

Table of Contents

Chapter One

1.      Introduction

1.1     Background of the Study

1.      Statement of the Problem
   1.      Objectives of the Study
   1.      Research Questions
   1.      Significance of the Study
   1.      Scope and limitation of the Study.
   1.      Organization of the Study

1.8     Definition of terms

CHAPTER TWO

REVIEW OF RELATED LITERATURE

•      Concept of Fraud
  •      Concept of Small and Medium Scale Enterprise
  •      Types of fraud in Small and Medium Enterprise
  •      Causes of Fraud in Small and Medium Enterprise
  •      Sources of Fraud
    • Auditor’s Responsibilities for Fraud

2.5.2 The draft guidelines

•      Detection of Fraud
  •      Prevention of Fraud
  •      Internal Control System

CHAPTER THREE

RESEARCH METHODOLOGY

3.1     Introduction         –        –        –        –        –        –        –       

• Re-statement of Research Question  –        –        –        –       
  •    Design of  the Study      –        –        –        –        –        –       
  • Area of the Study    –        –        –        –        –        –        –       
  •    Population of the Study –        –        –        –        –        –       
  • Sample/sampling techniques      –        –        –        –        –       
  •    Instrument/Method of  Data Collection      –        –        –       
  •    Data Analysis Techniques       –        –        –        –        –       

CHAPTER FOUR

DATA PRESENTATION, ANALYSIS AND INTERPRETATION

•      Introduction         –        –        –        –        –        –        –
  •      DataPresentation  –        –        –        –        –        –
  •      DataAnalysis and Interpretation       –        –        –        –       

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