Acceptance

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CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS

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2. What is the relationship between Internal Controls and production of fraud free financial reports?

Table 4. 2 CORRELATION COEFFICIENT - IC

Showing the Karl Pearson Product Moment Correlation Coefficient Statistics of relationship between Internal Controls and Fraud Free Financial Reports of Deposit Money in Nigerian Banks.

IC- Internal controls FFFR- Fraud free financial reports Pearson Correlation -.099

Source: Researcher Computation using SPSS version-21

Table 4.2 shows that there is negative or inverse relationship between internal control and fraud free financial report, that is, the relationship is negative and weak (r = -0.099 or -9.9%),thereby revealing that the two variables move in opposite directions, in other words their magnitudes and directions are converse. Proof of significance in the relationship is in the hypothesis test below.

3. What is the relationship between Corporate Governance and production of fraud free financial reports?

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Table 4. 3 CORRELATION COEFFICIENT - CG

Showing the Karl Pearson Product Moment Correlation Coefficient Statistics of relationship between corporate governance and Fraud Free Financial Reports of Deposit Money in Nigerian Banks.

CG- Corporate governance FFFR- Fraud free financial reports Pearson Correlation -.156

Source: Researcher Computation using SPSS version-21

Table 4.3 shows that there is inverse association between corporate governanceand fraud free financial report, that is, the correlation is weedy (r = -0.156 or -15.6%). The two variables magnitudes and directions are converse. Proof of significance in the relationship is in the hypothesis test below.

4. What is the relationship between whistle blowing and production of fraud free financial reports?

Table 4. 4 CORRELATION COEFFICIENT - WB

Showing the Karl Pearson Product Moment Correlation Coefficient Statistics of relationship between Whistle blowing and Fraud Free Financial Reports of Deposit Money in Nigerian Banks.

WB- Whistle blowing FFFR- Fraud free financial reports Pearson Correlation -.090

Source: Researcher Computation using SPSS version-21

Table 4.4 shows that there is inverse relationship between whistle blowing and fraud free financial report, that is, the correlation is weak (r

= -0.090 or -9%). The degree and directionof their movement are converse.Again, proof of significance in the relationship is in the hypothesis test below.

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5. What is the relationship between Auditor’s Education Level and production of fraud free financial reports?

Table 4. 5 CORRELATION COEFFICIENT - AE

Showing the Karl Pearson Product Moment Correlation Coefficient Statistics of relationship between Auditors education and Fraud Free Financial Reports of Deposit Money in Nigerian Banks.

AE- Auditors education FFFR- Fraud free financial reports Pearson Correlation .807^**

Source: Researcher Computation using SPSS version-21

Table 4.5 shows the Karl Pearson Product Moment Correlation Coefficient Statistics of the relationship between Auditors educationand Fraud Free Financial Reports. There is positive correlation (r =0.807 or 80.7%) between them. The direction and magnitude of the relationship are positive and strong and they moved in the same direction.Proof of significance in the relationship is in the hypothesis test below.

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6. What is the relationship between Auditor’s Independence and production of fraud free financial reports?

Table 4. 6 CORRELATION COEFFICIENT – AI

Showing the Karl Pearson Product Moment Correlation Coefficient Statistics of relationship between Auditors independence and Fraud Free Financial Reports of Deposit Money in Nigerian Banks.

AI- Auditors independence FFFR- Fraud free financial reports Pearson Correlation -.162

Source: Researcher Computation using SPSS version-21

Table 4.6 revealed the Karl Pearson Product Moment Correlation Coefficient Statistics of the relationship between Auditors independence and Fraud Free Financial Reports. There is negative correlation (r =-0.162 or 16.2 7%) between them. The directions and magnitudes of their relationship are negative and not strong. Again Proof of significance of the relationship is in the hypothesis test below.

7. What is the impact/effect of each of the following in ensuring production of fraud free financial reports; International Accounting Reporting Standards, internal control, corporate governance codes, whistle blowing, auditor’s education level and auditor’s independence?

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Table 4. 7 CORRELATION COEFFICIENT –WB, AE, IC, IARS, AI and CG

Model Summary of Multiple Regression Result of Whistle blowing, Auditors education, Internal controls, International Accounting Reporting Standards,Auditors independence, and Corporate governance effect onFraud Free Financial Reports of Deposit Money in Nigerian Banks.

Source: Researcher Computation using SPSS version-21

The multiple regression results of the study are presented in Table 4.7 above.

The regression output revealed that the dependent variable is well explained by the explanatory variables in the model with R-square and adjusted R-square of .836 and .727 respectively. Nonetheless, the remaining variant not captured by the joint contribution of the explanatory surrogates might be accounted for by the impacts of stochastic random variables. Base on the analysis above we may not conclude that the model has a significant impact on the explained variable.

This leads us to the test of the hypothesis formulated as will be later shown below.

Model R R Square Adjusted R Square Std. Error of the Estimate

1 .915

a

.836 .727 1.45779

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8. To what extent did implementation of International Accounting Reporting Standards stemmed the rate of fraud in Nigerian banks?

Table 4. 8 Model Summary and ANOVA

Dependent Variable: FRAUD_CASES Method: Least Squares

Date: 11/14/15 Time: 11:11 Sample: 2002 2014

Included observations: 12

FRAUD_CASES=C(1)+C(2)*EARNING+C(3)*ASSET+C(4)*PBT

Coefficient Std. Error t-Statistic Prob.

C(1) 215.1781 66.21524 3.249676 0.0117

C(2) 0.000188 0.000264 0.712445 0.4964

C(3) -1.09E-05 2.62E-05 -0.416069 0.6883

C(4) -0.000452 0.000248 -1.822653 0.1058

R-squared 0.303157 Mean dependent var 239.5833

Adjusted R-squared 0.041841 S.D. dependent var 139.8177

S.E. of regression 136.8614 Akaike info criterion 12.93702

Sum squared residual 149848.3 Schwarz criterion 13.09865

Log likelihood -73.62210 Hannan-Quinn criter. 12.87717

F-statistic 1.160117 Durbin-Watson stat 1.121238

Prob(F-statistic) 0.383081

Source: Eview7

The impact of the above variables (proxies of IARS) on FFFR is shown in the table above and further proof of significance in the relationship is in the hypothesis test below.

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9. What is the relationship between International Accounting Standards and production of fraud free financial reports in Nigerian public sector?

Table 4. 9 CORRELATION COEFFICIENT – IARS (PUBLIC SECTOR)

Showing the Karl Pearson Product Moment Correlation Coefficient Statistics of relationship between International Accounting Reporting Standards and Fraud Free Financial Reports in Nigeria public sector.

Compliance with standards FFFR- Fraud free financial reports Pearson Correlation .619^**

Source: Researcher Computation using SPSS version-21

Table 4.9shows the Karl Pearson Product Moment Correlation Coefficient Statistics of the relationship between International Accounting Reporting Standards and Fraud Free Financial Reports in Nigeria public sector. It affirms that there is positive correlation (r =0.619 or 61.9%) between International Accounting Reporting Standards and Fraud Free Financial Reports in Nigerian public sector. The directions and magnitudes of the relationship are positive and strong.Further tests on the significance of the relationship are in the hypothesis tests section below.

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