Browsing by Author "Barnabas, Abayomi Samuel"

Now showing 1 - 4 of 4
  • Thumbnail Image
    ItemOpen Access
    Casualization Of Employment And Increase In Reported Cases Of Fraud In Insured Banks Of Nigeria
    (Department of Accounting, Faculty Of Administration, Nasarawa State University, Keffi, 2012-09-02) Iyere, Samuel Iheonkhan; Barnabas, Abayomi Samuel
    The paper examines the relationship between casualization of employment and increase in reported cases of fraud in insured banks of Nigeria. The population consists of 24 insured banks in Nigeria as at 31st December, 2009. The sample consists of the entire population. The data used were obtained from the annual reports of Nigeria Deposit Insurance Corporation from 2003 to 2009. Panel data for 2003 to 2009 were collected for the analysis. Pearson Product Moment Correlation Coefficient, a parametric tool was employed in the analysis. The analysis reveals a strong positive relationship between casualization of employment and increased in reported cases of fraud in insured banks of Nigeria. It is not statistically significant at 5% but significant at 10%. It can be concluded that there is a strong positive relationship between casualization of employment and increase in fraud in insured bank. It is recommended that insured banks should strengthen their internal control, security and risk management systems to reduce the incidence of frauds and forgeries. Insured banks should also thoroughly screen prospective employees by obtaining status reports from previous employers and relevant agen'cies and to desist from deploying casual staff to sensitive positions. There is also need to carry out cost benefit analysis of casualization of employment in order to ensure that the perceived reduction in labour cost is not offset by increase in fraud loss exposure.
  • Thumbnail Image
    ItemOpen Access
    Comparative Analysis Of Statement Of Accounting Standard, International Financial Reporting Standard And Usa Generally Accepted Accounting Principles (GAAP) On Up Stream Operations.
    (Department of Accounting, Faculty Of Administration, Nasarawa State University, Keffi, 2011-05-10) Iyere, Samuel Iheonkhan; Barnabas, Abayomi Samuel; Ogohi, Joel
    This paper examines the gaps that exist between the accounting standard issued by International Accounting Standard Board: International Financial Reporting Standard 6 (Exploration For and evaluation of Mineral resources) and Nigeria Accounting Standard Board: Statement of accounting Standard 14 (Accounting in The Petroleum Industry-Upstream Activities) The International Accounting Standards Board (IASB) in pursuit of it objective to help preparers of financial statements, throughout the world, produce and present high quality, transparent and comparable financial information have made great efforts in ensuring that national accounting standards converge to the international standards. In complying with this move, Nigerian publicly listed companies and significant public interest entities are required to adopt International Financial Reporting Standards (IFRS) in 2012. All other public interest entities will adopt IFRS in 2013. In doing this, a comparative study of the two standards was carried out and benchmark with US GAAP. It was discovered that gaps with wide reaching implications existed between the two standards. It was also found too that Statement of accounting Standard 14 has much similarity with US GAAP. It is recommended that there should be a comprehensive review of the current International Financial Reporting Standard 6 (Exploration For and evaluation of Mineral resources) to accommodate the provisions of SAS 14 and US GAAP to make the convergence acceptable.
  • Thumbnail Image
    ItemOpen Access
    Implementation Of International Financial Reporting Standard In Secondary Schools Curriculum
    (Department of Accounting, Faculty Of Administration, Nasarawa State University, Keffi, 2016-05-14) Iyere, Samuel Iheonkhan; Barnabas, Abayomi Samuel; Ameh, Jacob Ojobo
    Accounting education in Nigeria has developed over the years and has been largely sharpened by legal and institutional framework, multinational corporations, increased in government spending, societal pressures and technological advancement, unrelenting competitive pressure, impact of information and communication technologies; globalization of business; focus on fair value accounting; demand for new knowledge and skills and demand for improvements in corporate governance and ethics. More recent is the adoption of International Financial Reporting Standard (IFRS) in all aspects of financial reporting in Nigeria business sector, unfortunately there is a neglect of the secondary sector This paper is exploratory in nature and it adopts content analysis of N ECO and WAEC curriculum for 2013 to 2015 on Financial Accounting/book keeping and account for the year along with interview of 30 secondary schools students of Niger South Senatorial District of Niger Slate. It was discovered that the Education policy makers have failed to effect the necessary change in ordinary level curriculum and its implementation by necessary examination bodies. In the same vein, teachers in secondary schools were not trained or equipped to handle this change. It is recommended that there is the need to review the current accounting education curriculum to take care of these developments.
  • Thumbnail Image
    ItemOpen Access
    RE-ENGINEERING OF INTERNAL AUDIT IN PUBLIC SECTOR: AN EMPIRICAL STUDY OF INSTITUTIONS IN NIGER STATE
    (Department of Accounting, Faculty Of Administration, Nasarawa State University, Keffi, 2012-07-01) Iyere, Samuel Iheonkhan; Barnabas, Abayomi Samuel
    It is a statutory requirement for the establishment and maintenance of internal audit in Sub- Accounting and Self-Accounting Units. Its development is to ensure compliance with relevant statutes and to foster accountability. The recent upsurge in frauds, mismanagement of public funds, diversion, inflation of contracts, and zero supply and among other social vices show the inefficiency and ineffectiveness of internal audit in the public sector. Data were obtained through the use of questionnaires. There is insufficient professional in internal audit unit, inadequate and weak internal control which is not reviewed to reflect current challenges. From the analysis, it can be stressed the need to re-engineer the internal audit in a holistic manner to perform both the pre payments and post payment audits, value for money audit. There is also the need for professionalism, training and re-training and recruitment of suitable qualified person for this important task. This will foster prudence, proper management and accountability for the use of national resources.