Audit practices and performance in fraud detection and prevention in the public sector in Uganda case of Kiruhura district
Date
2014-01
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Kyambogo University[unpublished work]
Abstract
According to Coram, Ferguson, Moroney (2006), fraud encompasses an anay of irregularities
and illegal acts characterized by intentional deception, either for the benefit or detriment of the
organization by internal or external persons. It comprises all acts, omissions and concealments
involving a breach of a legal or equitable duty and resulting damage to another.
This study set out to analyze the Audit Practices used in detecting and preventing fraud in
Kiruhura district.
The objectives of the study were to examine the: current audit practices used by internal auditors;
tools used by internal auditors to detect fraud; level of experience and professionalism required
of internal auditors in detecting and preventing the fraud risk; performance of the various audit
practices in detecting and preventing fraud.
The study findings indicated that: internal audit practices (internal control system (60%);
supervision of transactions; whistle blowing (86.7%); segregation of duties (93.3%) are in
excellent position to identify fraud schemes and scenarios and evaluate the controls in place to
prevent them; the tools used by organizations such as financial model of fraud risk assessment
perform, computer based audit techniques to perform analytical procedures, and use of computer
programs and checklists are in a better position to detect and prevent fraudulent activities in
organizations; and auditors must possess a given set of professional skills and a high degree of
professionalism to be able to detect and prevent fraudulent cases in organizations.
The study recommends organizations should use a good mix of audit practices with a good
number of the tools used while emphasizing on the use of auditors that are well trained and
practice a high level of professionalism to effectively detect and prevent fraud in organizations.
Description
ix, 60 p. ;
Keywords
Audit practices, Performance, Fraud detection, public sector
Citation
Katusiime, Adrine(2014) Audit practices and performance in fraud detection and prevention in the public sector in Uganda case of Kiruhura district