| dc.description.abstract | The research report was commissioned to analyze the impact of fraud prevention
management on organizational performance in NSSF as a case study. The research objectives
were to assess accounting systems, to find out how segregation of duties facilitates fraud
prevention management and to examine the role of internal audit in fraud prevention
management as a key to organizational performance in NSSF.
Data was collected from respondents using self administered questionnaires, interviews and
observations. A sample size of 70 respondents was used. Respondents constituted the general
manager, accountant, finance manager, risk manager and staff dealing in operations. The
sampling methods used were simple random sampling, purposive sampling and quota
sampling methods.
Major findings showed that segregation of duties is paramount in all offices of the fund and
serves as a critical component to the fund’s internal control structure aimed at reducing
opportunities for fraudulent activities. It minimized opportunities for employees to steal from
the fund.
In addition, findings established that internal audit was organized within the fund and it is
most commonly responsible for conducting fraud risk assessments, indentifying fraudulent
schemes that the fund is most vulnerable to and develop alternative internal control systems
to boast organizational performance. The entire function therefore serves as a consultant
department on matters of controls. The , findings also revealed that the fund utilizes
accounting systems at its process level and they are used to facilitate users by providing
relevant information to make decisions and form judgments for example, they provide a clear
and valid picture of how much income the fund is generating and how it is being spent on
investment and overheads.
Conclusions were drawn basing on the research findings from which it was concluded that
fraud prevention management can only be achieved with help of strong internal control
systems already in place. But these systems alone are just not enough and it’s for this reason
that the fund management is insisting on the issue of competence of staff (the integrity of
staff) needed to operate these internal control systems. The training of staff is therefore based
on performance and attitude towards work and fellow employees.
Recommendations were made to improve risks management that included managing risks
effectively and efficiently by striking an appropriate balance between risk and return, because
profitability and balance sheet growth are functions of effective risk management.
In addition, providing feedback, by reporting to employees how they are, their group and the
organization as a whole is performing against the expected goals and where possible,
evaluating and rewarding behavior, in order to focus employee’s attention on strategic
priorities and to motivate them to take actions and make decisions, which are consistent with
organizational goals.
Companies also cannot afford to lose good customers, therefore, they cannot accuse people of
fraud without any sound evidence, but must be able to justify and explain why something is
suspicious. Critical reflection is also action. | en_US |
