2,790
Views
0
CrossRef citations to date
0
Altmetric
BANKING & FINANCE

Knowledge capability and fraud risk assessment in Nigeria deposit money banks: The mediating effect of problem representation

ORCID Icon & ORCID Icon | (Reviewing editor)
Article: 1899450 | Received 24 Nov 2020, Accepted 23 Jan 2021, Published online: 09 May 2021

References

  • Abata, M. A. (2015). Impact of Asset Management Corporation of Nigeria (AMCON) on the securitization in the Nigerian banking sector. Global Journal of Contemporary Research in Accounting, Auditing and Business Ethics, 1(2), 282–15.
  • Adeduro, A., . A. (1998). “An investigation into frauds in banks”. An unpublished thesis of University of Lagos. Administrative Sciences (UMAS) (), Vol 2, 01–05. University of Lagos, Research Unit/UniLag Press.
  • Adetiloye, K. A., Olokoyo, F. O., & Taiwo, J. N. (2016). Fraud prevention and internal control in the Nigerian banking system. International Journal of Economics and Financial Issues, 6(3), 1172–1179.
  • Adeyemo, K. A. (2012). “Fraud in Nigerian banks: Deep-seated causes. Alternative and probable remedies”. An unpublished thesis of Covenant University, Ogun state, Nigeria.
  • Agyemang, J. (2015). Internal control and fraud prevention. International Journal of Management and Scientific Research, 1(1), 230–257.
  • Akindele, R. I. (2011). Fraud as a negative catalyst in the Nigerian banking industry. Journal of Emerging Trends in Economics and Management Sciences (JETEMS), 2(5), 357–363.
  • Akinyomi, O. J. (2012). Examination of fraud in the Nigerian banking sector and its prevention. Asian Journal of Management Research, 3(1), 182–194.
  • Al Shaher, T., Kasawneh, O., & Salem, R. (2011). The major factors that affect banks’ performance in Middle Eastern countries. Journal of Money, Investment and Banking, 1(3), 27–41.
  • Alghamdi, A., Flechais, I., & Jirotka, M., (2015), Security practices for households bank customers in the kingdom of Saudi Arabia. USENIX Association. https://www.usenix.org/
  • Asare, S. K., Wright, A., & Zimbelman, M. F. (2015). Challenges facing auditors in detecting financial statement fraud: Insights from fraud investigations. Journal of Forensic & Investigative Accounting, 7(2), 63–112.
  • Awolowo, I. F. (2016). Financial statement fraud: The need for a paradigm shift to Forensic accounting. International Journal of Economics and Management Engineering, 10(3), 987–991.
  • Baz, R., Samsudin, R. S., & Che-Ahmad, A. (2017). The role of internal control and information sharing in preventing fraud in the Saudi banks. Journal of Accounting and Financial Management, 3(1), 7–13.
  • Baz, R., Samsudin, R. S., Che-Ahmad, A., & Popoola, O. (2016). Capability component of fraud and fraud prevention in the Saudi Arabian banking sector. International Journal of Economics and Financial Issues, 6(S4), 68–71.
  • Bedard, J., & Chi, M. T. H. (1993). Expertise in Auditing. Auditing: A Journal of Practice and Theory, 12(Supplement), 21–45.
  • Bierstaker, J. L., Bedard, J. C., & Biggs, S. F. (1999). ‘The role of problem representation shifts in auditor decision processes in analytical procedures”. Auditing: A Journal of Practice and Theory, 18(1), 18–36. https://doi.org/https://doi.org/10.2308/aud.1999.18.1.18
  • Boritz, J. E., Kotchetova, N., & Robinson, L. A. (2008, January). Planning fraud detection procedures: Forensic accountants vs auditors. In IFA conference, accessed July (Vol. 22, p. 2009). University of waterloo.
  • Bostley, R. W. B., & Dover, C. B. (1972). Sheldon’s practice and the law of banking. In English language book society, Macdonald, and Evans (10th ed.). London.
  • Brandstatter, V., & Frank, E. (2002). Effects of deliberative and implemental mindsets on persistence in goal-directed behaviour. Personality & Social Psychology Bulletin, 28(10), 1366–1378. https://doi.org/https://doi.org/10.1177/014616702236868
  • Cascarino, R. E. (2012). Corporate fraud and internal control: A framework for prevention. John Wiley & Sons.
  • CBN. (2016). Banking system regulation and supervision in Nigeria (1976-2016). Central Bank of Nigeria Bullion, 40(1), 27–36.
  • CBN, (2017). Central Bank of Nigeria annual report and accounts, 2017. CBN Press Limited.
  • Christ, M. Y. (1993). Evidence on the nature of audit planning problem representations: an examination of audit free recalls: the accounting review. European Journal of Applied Physiology and Occupational Physiology, 66(2), 304–322. https://doi.org/https://doi.org/10.1007/BF00237773
  • Chui, L., (2010), An experimental examination of the effects of fraud specialist and audit mindsets on fraud risk assessment and on the development of fraud related problem representation, ProQuest LLC UMI 3456520, 789 East Eisenhower Parkway, USA.
  • Chui, L., & Pike, B. (2013). Auditors’ responsibility for fraud detection: New wine in old bottles? Journal of Forensic and Investigative Accounting, 5(1).
  • Creswell, J. W., & Creswell, J. D. (2017). Research design: Qualitative, quantitative and mixed methods approaches. Sage publications.
  • Daniel-Draz, M. S., (2011), Fraud Prevention: Improving internal controls. June 7, 2015, at http://www.csoonline.com/article/2127917/fraud-prevention/fraud-prevention–improvinginternal-controls.html.
  • Denison, C. A. (2009). Real options and escalation of commitment: A behavioural analysis of capital investment decisions. The Accounting Review, 84(1), 133–155. https://doi.org/https://doi.org/10.2308/accr.2009.84.1.133
  • DiGabriele, J. A. (2008). An empirical investigation of the relevant skill of forensic accountants. Journal of Education for Business, 83(6), 331–338. https://doi.org/https://doi.org/10.3200/JOEB.83.6.331-338
  • DiGabriele, J. A. (2016). The expectation differences among stakeholders in the financial valuation fitness of auditors. Journal of Applied Accounting Research, 17(1), 43–60. https://doi.org/https://doi.org/10.1108/JAAR-06-2013-0043
  • Gilbert, M., & Wakefield, A. (2018). Tackling fraud effectively in central government departments: A review of the legal powers, skills and regulatory environment of UK central government counter fraud teams. Journal of Financial Crime, 25(2), 384–399. https://doi.org/https://doi.org/10.1108/JFC-01-2017-0006
  • Glover, S. M., Taylor, M. H., & Wu, Y. J. (2016). Current practices and challenges in auditing fair value measurements and complex estimates: Implications for auditing standards and the academy. Auditing: A Journal of Practice & Theory, 36(1), 63–84. https://doi.org/https://doi.org/10.2308/ajpt-51514
  • Godwin, O., (2009). A synthesis of the critical factors affecting performance of the Nigerian banking system. European Journal of Economics Finance & Admin Sciences. 171, 34–44.
  • Hair, J. F., Hult, G. T. M., Ringle, C. M., & Sarstedt, M. (2014). A primer on partial least squares structural equation modelling (PLSSEM). Sage.
  • Hair, J. F., Hult, T. M., Ringle, C. M., & Sarstedt, M. (2017). A primer on partial least squares structural equation modelling (PLSSEM). Sage, Publications.
  • Hogan, C., Rezaee, Z., Riley, R., & Velury, U. (2008). Financial statement fraud: Insights from the academic literature. Auditing: A Journal of Practice & Theory, 27(2), 2. https://doi.org/https://doi.org/10.2308/aud.2008.27.2.231
  • Houck, M. M., Kranacher, M., Morris, B., Robertson, J., & Wells, J. T. (2006). Forensic accounting as an investigative tool. The CPA Journal, August 1.
  • Huber, W., & DiGabriele, J. A. (2014). Research in forensic accounting-what matters? Journal of Theoretical Accounting Research, 10(1), 40–70.
  • Huber, W. D., & DiGabriele, J. A. (2015). Topics and methods in forensic accounting research. Accounting Research Journal.
  • IFAC. (2006). International education standard no. In Competence requirements for audit professionals (pp. 8). International Federation of Accountants.
  • Ilse, M., Tomczak, J. M., & Welling, M. (2018). Attention-based deep multiple instance learning. In International conference on machine learning (pp. 2127-2136). PMLR.
  • Jenkins, J. G., Negangard, E. M., & Oler, M. J. (2018). Getting comfortable on audits: Understanding firms’ usage of forensic specialists.. Contemporary Accounting Research, 35(4), 1766–1797. https://doi.org/https://doi.org/10.1111/1911-3846.12359
  • Kadous, K., & Sedor, L. (2004). The efficacy of third-party consultation in preventing managerial escalation of commitment: the role of mental representations. Contemporary Accounting Research, 21(1), 55–82. https://doi.org/https://doi.org/10.1506/R0MH-W9H9-CQJD-1356
  • Knapp, C. A., & Knapp, M. C. (2001). The effect of experience and explicit fraud risk assessment in detecting fraud with analytical procedures. Accounting Organisation and Society.
  • Lamorde, I. (2012). Nigeria: More boost for corruption. A paper presentation on the EFCC Budget Defence at the Senate Chamber, Federal Republic of Nigeria. Vanguard Newspaper, November 27.
  • Levi, M., Burrows, J., Fleming, M., Hopkins, M., & Matthews, K. G. P. (2007). The nature, extent and economic impact of fraud in the UK.  Economic Crime Portfolio Group.
  • Liewellyn, D. (1986). The regulation and supervision of financial institutions. Institute of bankers.
  • Linus, O. (2001). Marketing strategy effectiveness in Nigerian banks. Academy of Marketing Studies Journal, 5(1), 23–30.
  • Lucca, D., Seru, A., & Trebbi, F. (2014). The revolving door and worker flow in banking regulation. Journal of Monetary Economics, 65, 17–32. https://doi.org/https://doi.org/10.1016/j.jmoneco.2014.05.005
  • Ly, K. C. (2015). Liquidity risk, regulation and bank performance: Evidence from European banks. Global Economy and Finance Journal, 8(1), 11–33. https://doi.org/https://doi.org/10.21102/gefj.2015.03.81.02
  • Mala, R., & Chand, P. (2015). Judgment and decision‐making research in auditing and accounting: future research implications of person, task, and environment perspective. Accounting Perspectives, 14(1), 1–50. https://doi.org/https://doi.org/10.1111/1911-3838.12040
  • Markman, A. B., & Gentner, D. (2001). Thinking. Annual Review of Psychology, 52(1), 223–247. https://doi.org/https://doi.org/10.1146/annurev.psych.52.1.223
  • Mulia, T. W., Lasdi, L., & Widjanarko, T. A. (2015). Pengaruh hurdle rates dan framing terhadap eskalasi komitmen dalam penganggaran modal. Simposium Nasional Akuntansi, 18.
  • Muoghalu, A. I., Okonkwo, J. J., & Ananwude, A. (2018). Effect of electronic banking related fraud on deposit money banks financial performance in Nigeria. Discovery, 54(276), 496–503.
  • Nendaz, M. R., & Bordage, G. (2002). Promoting diagnostic problem representation. Medical Education, 36(8), 760–766. https://doi.org/https://doi.org/10.1046/j.1365-2923.2002.01279.x
  • Nicolaisen, D. T. (2005). In the public interest. Journal of Accountancy, 199(1), 63–70.
  • Nwankwo, O. (2013). Implications of fraud on commercial banks performance in Nigeria. International Journal of Business and Management, 8(15), 144. https://doi.org/https://doi.org/10.5539/ijbm.v8n15p144
  • Nwoji, D. L., Adebayo, O., & David, A. O. (2011). Corporate governance and bank failure in Nigeria: Issues, challenges and opportunities. Research Journal of Finance and Accounting, 2(2), 2.
  • Okpara, G. C. (2009). A synthesis of the critical factors affecting performance of the Nigerian banking system. European Journal of Economics, Finance and Administrative Sciences, 17(17), 34–44.
  • Olatunji, O. C., Adekola, D. R., & Isaac, A. A. (2014). Analysis of frauds in banks: Nigeria’s experience. European Journal of Business Management, 6(31), 90–99.
  • Payments, U. U. (2015). Preventing money laundering and bank fraud in the banking industry.
  • Pike, B. (2013). Auditors’ responsibility for fraud detection: new wine in old bottles? Lawrence chui. Journal of Forensic & Investigative Accounting, 5, 1.
  • Pitz, G. P., & Sachs, N. J. (1984). Judgement and decision: theory and application. Annual Review of Psychology, 35(1), 139–163. https://doi.org/https://doi.org/10.1146/annurev.ps.35.020184.001035
  • Popoola, O., Che-Ahmad, A., Samsudin, R. S., Salleh, K., & Babatunde, A. (2016). Accountants’ capability requirements for fraud prevention and detection in Nigeria. International Journal of Economics and Financial Issues, 6, S4, 1–10.
  • Popoola, O. M. J., (2014), Forensic accountants, auditors, and fraud: Capability and competence requirements in the Nigerian public sector. A thesis submitted to Othman Yeop Abdullah Graduate School of Business, Universiti Utara Malaysia, in fulfilment of the requirement for the Doctor of Philosophy. Universiti Utara Malaysia.
  • Popoola, O. M. J., Che-Ahmad, A., & Samsudin, R. (2015). Forensic accounting and fraud: Capability and competence requirements in Malaysia. Journal of Modern Accounting and Auditing, 10(2), 825–834.
  • Popoola, O. M. J., Che-Ahmad, A., & Samsudin, R. (2015b). An empirical investigation of fraud risk assessment and knowledge requirement on fraud related problem representation in Nigeria. Accounting Research Journal.
  • Reed, S. K. (2012). Cognition: Theories and applications. Cengage learning.
  • Rezaee, Z., & Davani, H. (2013). Does financial reporting fraud recognize borders? Evidence from bank fraud in Iran. Journal of Forensic & Investigative Accounting, 5, 2.
  • Sekaran, U., & Bougie, R. (2010). Research methods for business: A skill building approach. John Willey & Sons.
  • Sekaran, U., & Bougie, R. (2013). Research methods for business: A skill building approach (6th ed.). John Wiley & Sons.
  • Singh, D. (2016). Banking regulation of UK and US financial markets. Routledge.
  • Subramanian, R., (2014), Bank Fraud. Wiley. ttps://www.sas.com/
  • Suleiman, N., & Ahmi, A. (2018). Mitigating corruption using forensic accounting investigation techniques. Indian-Pacific Journal of Accounting and Finance, 2(1), 4–25.
  • Tabachnick, B. G., & Fidell, L. S. (2013). Using multivariate statistics: International edition. Pearson2012.
  • Taiwo, J. N., Agwu, P. E., Babajide, A., & Isibor, A. A. (2016). Growth of bank frauds and the impact on the Nigerian banking industry. Journal of Business Management and Economics, 14(12), 01–10. https://doi.org/http://dx.doi.org/10.15520/jbme.2016.vol4.iss12.232.pp01-10
  • Thibodeau, J. C. (2003). The development and transferability of task knowledge. Auditing: A Journal of Practice & Theory, 22(1), 47–67. https://doi.org/https://doi.org/10.2308/aud.2003.22.1.47
  • Tomasic, R., & Akinbami, F. (2013). Shareholder activism and litigation against uk banks-the limits of company law and the desperate resort to human rights claims. In Directors’ duties and shareholder litigation in the wake of the financial crisis, joan loughrey (ed) (pp. 143–172). Edward Elgar.
  • Viscusi, W. K., Phillips, O. R., & Kroll, S. (2011). Risky investment decisions: How are individuals influenced by their groups? Journal of Risk and Uncertainty, 43(2), 81. https://doi.org/https://doi.org/10.1007/s11166-011-9123-3
  • Widhoyoko, S. A. (2017). Fraud in rights and contracts: a review of bankruptcy case of livent inc. based on governance, risk, and compliance (GRC) framework. Binus Business Review, 8(1), 31–39. https://doi.org/https://doi.org/10.21512/bbr.v8i1.1827
  • Wuerges, A. (2011). Auditors’ responsibilities for fraud detection: New wine in old bottles? , University of St. Thomas, Minnesota: .Accounting Faculty Publications. Retrievedfromhttp://www.scrid.com/doc/63671899/Auditor-Responsibility-for-fraud-Detection.
  • Zaworski, M. J., (2005), Assessing an automated, information sharing technology in the post “9-11” era -do local law enforcement officers think it meets their needs? A dissertation submitted in partial fulfilment of the requirements for the degree of Doctor of Philosophy in Public Administration. Florida International University Miami.