The study focused on Fraud prevention as a dimension of Audit function on Business Profitability, effectiveness and Efficiency as measures of performance. Primary and secondary data were collected, sample size was thirty (32) quoted manufacturing companies. Pearson Product Moment Correlation powered by Statistical package for social sciences and QSR-NVIVO software aided the data analysis. The study found that the influence of fraud prevention is more positive and very significant on business profitability, than on effectiveness and business efficiency, which appears to have weak influence in the quoted manufacturing companies in Nigeria. Conclusively, the more stringent fraud prevention measures tends to be the more businesses will achieve higher growth in terms of profitability. It is recommended that firms should improve on the fraud prevention mechanism to track all dubious tendencies to avoid being defrauded.
Fraud Prevention and Detection (Review Completed - Accepted)
Fraud has been a million-dollar business which is rapidly increasing at global level. Most organisations are victims of fraud which is committed in unlimited multifarious forms. Major threats have been prompted by new information systems, reengineering and reorganisation which weaken the existing controls. The paper addresses the anti-fraud strategy and fraud prevention and detection techniques.