The Effect of Fraud Risk Management, Risk Culture, on the Performance of Nigerian Banking Sector: Preliminary Analysis

Abstract

Fraud has become the most viable threat to the global economy requiring maximum attention of forensic accountants and traditional auditors, as well as anti-graft bodies worldwide. The primary objective of this paper is to discuss the process of screening, editing and preparation of initial data collected, before any further multivariate analysis of the study regarding the relationship between fraud risk management and risk culture on bank performance. A survey method was employed to administer a total of 417 questionnaires to either the senior officer in the risk management department, internal control department, and branch manager of each bank in the Nigerian banking sector. The questionnaire is a 5 point Likert-scale. The data was analyzed using Statistical Package for the Social Sciences (SPSS) version 23 (v23). The initial data screening and cleaning were conducted as an attempt to fulfill the assumptions of multivariate analysis. Therefore, the present study assessed missing values, outliers, normality test, collinearity test, common method variance, and test of nonresponse bias with the help of SPSS V23. The results have shown that the data satisfied the multivariate analysis assumptions which indicate the fulfillment of conditions for further multivariate analysis.

The Effect of the Implementation of Enterprise Risk Management Integrating With Strategy and Performance on Fraud Prevention (Case Study on Pt. Taspen (Persero)

“…By implementing these five components, companies can rectify and improve the quality of organizational performance, supervisio, and reduce the risk of fraud within the organization.This statement is supported by research results from Tita Djuitaningsih [12], Bambang Leo Handoko et al [13], and Umaru Hussaini et al [14] showing that implementing ERM into strategy can identify risks early and improve organizational performance.…”

“…ACFE in the research of Yelvionita, Utami, and Mappanyuki [15] defines fraud as irregularities and acts against the law, which are carried out intentionally for certain purposes such as deceiving or misleading other parties, by someone both from within and outside the organization. Hussaini et al [16] revealed that fraud is carried out by organizations and individuals to avoid payment and eliminate services to obtain services, property, or money to secure personal or business benefits. In order for the goals set by top management to be achieved, the security of company assets is guaranteed and operational activities can be carried out effectively and efficiently, management needs to implement good internal controls.…”

Determinants of Effectiveness of Performance Appraisal (EPA) for Academics in Nigerian Higher Education Institutions (HEIs): A Pilot Study

“…Similarly, reliability test was conducted. Even though there are diverse statistical techniques for testing reliability, Cronbach's alpha coefficient is reported as the most generally used technique by researchers with a threshold of 0.60 (Hussaini, Abubakar, & Yusuf, 2018;Sekaran & Bougie, 2010;…”

Implementation of Fraud Risk Assessment To Mitigate The Fraud Risk in Tax Audit Process

“…Regarding the analysis of the implementation of the anti fraud strategy, Widoretno (2016) proved that the role of internal audit in anti fraud strategies contributed to the realization of Good Corporate Government. A research in the banking sector showed that fraud risk management had a positive relationship with banking performance (Hussaini, 2018). In another study, the Fraud Risk Assessment can affect the auditor's evaluation of evidence and assessment (Rose & Rose, 2003).…”