AUDITING AS A TOOL FOR FRAUD RISK ASSESSMENT IN COMMERCIAL BANKS (CASE STUDY OF SELECTED COMMERCIAL BANKS IN ILORIN KWARA STATE)

ABSTRACT: With an upsurge in financial accounting fraud in the current economic scenario experienced, financial accounting fraud detection has become an emerging topic of great importance for academic, research and industries. In this age of high technology, fraud investigators can no longer be satisfied with just auditing or accounting skills, these investigators should be trained as forensic accountants and this training should include an extensive knowledge of accounting information. Despite the independence of auditors, fraud is still in the increase and most organizations has internal control system that checkmates the operations of  the organization but fraud still exist within the organization. In order to protect our banking sector, it is crucial to examine the level of assessment of fraud risk with respect to financial statement audits. The study is on auditing as a tool for fraud risk assessment in commercial banks within Kwara State.The researcher employed both primary and secondary data in collection of information, and correlation analysis for testing of hypothesis, SPSS package was also used for analysis of questionnaire. It is therefore required to note some areas of improvement that, The organization should put in place policies and procedures that will help in reducing fraud and also provide Conducive working atmosphere must be ensured for staff members.