IMPACT OF COMPUTER ASSISTED AUDIT TOOLS AND TECHNIQUES (CAATTS) ON FRAUD DETECTION: EVIDENCE FROM DEPOSIT MONEY BANKS IN NIGERIA
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Date
2023
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The Seybold report
Abstract
Businesses across the world have seen tremendous changes as a result of information technology and have
drastically altered the way transactions are documented, tracked, and reported in the accounting profession. The
study investigated the influence of Computer Assisted Audit Tools and Techniques (CAATTs) on fraud detection
in Nigerian Deposit Money Banks. Survey research design was adopted and a structured questionnaire was used
to gather data from respondents through a conveniently sampling technique. 198 auditors and managers in the
big-four audit firms and the twenty listed deposit money banks, were sampled. The data gathered was presented
using descriptive statistical tools (frequency and percentages) and analyzed using the Partial Least Square Structural Equation Modeling (PLS-SEM), with the aid of the SmartPLS-3 software. The result of the analysis
revealed a significant and positive effect of CAATTs components on fraud detection (β=0.458, t = 6.172, p <
0.05). The study concluded that CAATTs significantly influence the detection of fraud, among Deposit Money
Banks in Nigeria. Therefore, it was recommended that stakeholders should implement policies that will drive the
use of CAATTs for forensic auditing activities in the Nigerian banking sector. Furthermore, the government
should support the efforts of the banks in fighting fraud by facilitating whistle-blowing policies and encouraging
the creation of fraud-hotlines in the banks
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ADEYANJU, O. D., & ADENIKINJU, O. IMPACT OF COMPUTER ASSISTED AUDIT TOOLS AND TECHNIQUES (CAATTS) ON FRAUD DETECTION: EVIDENCE FROM DEPOSIT MONEY BANKS IN NIGERIA. https://www.researchgate.net/publication/374055333