EFFECT OF FRAUD PENTAGON MODEL ON FRAUD ASSESSMENT IN DEPOSIT MONEY BANKS IN NIGERIA
Keywords:
Fraud, Fraud Pentagon, Fraud Assessment, Fraud RiskAbstract
This study examined the effect of the fraud pentagon model in fraud assessment in Deposit Money Banks in Nigeria from 2005-2014. The study adopted the ex-post facto research design. The population of the study was centred on the performance indices of the fifteen (15) banks that are currently listed on the Nigerian Stock Exchange from 2005 to 2014. Data were obtained from the published financial statements of the fifteen (15) banks for a ten (10) year period spanning from 2005-2014. The multiple regression technique was the main statistical tool used in the study. In order to verify the quality of the data used, Variance Inflation Factor (VIF) was employed to test for multicollinearity among the variables. The result showed that the Behavioural Trait (BET) factor has a positive significant effect on fraud risk. The study concluded that fraud pentagon model offers an effective means in assessing fraud risk in the financial statement by incorporating the fifth element–‘the behavioural trait’ as one of the fraud risk factors. This would effectively enhance auditors’ detection of material misstatement in the financial statement of DMBs in Nigeria.
Downloads
Published
Issue
Section
License
Copyright (c) 2019 Journal of Global Accounting
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Articles submitted to JOGA should not have been published or are currently under review by another Journal. Kindly see the guide for the preparation of the manuscript for details. Successful submission of articles by author(s) for publication clearly implies that the work is not an infringement of any existing copyright warranty as JOGA reserves the right to be indemnified by the author(s) where any breach of such warranty is proven. For ease of dissemination and to ensure proper policing of use, papers and contributions become the legal copyright of JOGA once published unless otherwise agreed.
Permission clearance should be obtained by the author(s) where applicable for the use of any content of interest not originally created by them. This must be done before the submission of the article to JOGA. Failure to do so may lead to a lengthy delay in publication, as JOGA is unable to publish any article which has permissions pending. Thus, the rights JOGA requires are:
- Non-exclusive right to reproduce the material in the article or book chapters.
- Print and electronic rights.
- To use the material for the life of the work (for instance, there should be no time restrictions on the re-use of material).
Where tables, figures or excerpts of more than 250 words are reproduced from another source, it is expected that:
- Author(s) should obtain the necessary written permission in advance from any third-party owner of the copyright for the use in print and electronic formats of any of their text, illustrations, graphics, or other material in their manuscript. Permission must also be cleared for any minor adaptations of any work not originally created by the author(s). The author (s) should not assume that any content freely available on the web is free to use.
- Where the author adapts a significant number of any material, the author(s) must inform the copyright holder of the original work.
- Author obtains any proof of consent statements
- The author must acknowledge figure(s) and content adopted or adapted in work utilizing source(s) and further capture them in the list of references.
