TABLE OF CONTENTS
Title page i
Certification ii
Dedication iii
Acknowledgement iv
Table of contents v
CHAPTER ONE
1.1 Background of the study 1
1.2 Statement of the Research problem 3
1.3 Objective of the study 5
1.4 Significant of the study 6
1.5 Research Question 6
1.6 Scope of the study 7
1.7 Limitation of the study 8
1.8 Study plan 8
1.9 Definition of key terms 9
CHAPTER TWO
LITERATURE REVIEW
2.1 Introduction 11
2.2 The public Sector 13
2.3 Frauds and fund misuse 13
2.4 Accountancy and Financial report 18
2.5 The internal control system 19
2.6 Internal and External audit 22
2.7 Taxation System in Nigeria 25
2.8 Types of Frauds 27
2.9 Detection and Prevention of Frauds 29
Reference 32
CHAPTER THREE
RESEARCH METHODOLOGY
3.1 Historical background of the study 33
3.2 Method of data collection 34
3.3 Population and sample size 36
3.4 Sampling Techniques 37
3.5 Method of Data Analysis 37
CHAPTER FOUR
ANALYSIS OF PRESENTATION OF DATA
4.1 Introduction 38
4.2 Data Collection 38
4.3 Data Analysis 39
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
5.1 Summary 51
5.2 Conclusion 55
5.3 Recommendation 56
Bibliography 59
1.1 BACKGROUND OF THE STUDY
Financial control has been a major exercise in the public sector over the years and more attention needs to paid to it on account of increasing government revenue and expenditure. This increasing revenue and expenditure must be controlled to ensure efficient and effective use of public fund entrusted in a set of people in government. strong control on the financial of public sector get the government towards the realization of its set goals and objective on an organization can achieve its set goals without conspicuous set back which need to be reduced to the barest minimum or eliminated completely. The basic set back paramount in public sector today is that of frauds and misuse of public funds in government treasury. The set up of Nigerian and other developing countries of the world today is characterized with embezzlement, corruption and gross indiscipline and it’s the concern of every government of developing countries and even developed countries to institute sound financial control strategy to save their respective economy from imminent collapse. Employees and non-employees of government department engage in fraudulent practices whilst it cannot strictly speaking be said to be an ordinarily expected human behaviour. The prevalence of it even in the socialist societies would make one to conclude or state that its not an “un-human behaviour” the occurrence of frauds and misuse of funds is worrying because the loss of money invoice does not ordinarily belay to an individual. In every bad cases where frauds occur with crippling frequency and in wholesales size, public sector has often failed in the provision of service which it ought to have provided effectively and efficiently and to its economic activities has failed woefully. Frequent occurrence of frauds and fund misuse ultimately, distract the attention of various public sector management and the formulation of more effective and efficient financial control devices are instituted in various public ministries and departments to ensure effective prevention of frauds and misuse of public funds. These controls are exercised both within and outside each ministry.
