Control Systems, Fraud Minimization and Organisational Compliance in the Downstream Sector of Nigerian Oil and Gas Industry
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Date
2017
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Publisher
Imperial Journal of Interdisciplinary Research
Abstract
The study examines the effect of control systems on fraud minimization and organizational compliance in the downstream sector of the Nigerian oil and gas industry. The study adopts the descriptive survey design. 103 respondents were randomly selected from 1,027 employees of Oando Plc in Lagos, Nigeria. Questionnaire was the main instrument for data collection measured on a 6 point Likert scale. Regression and Correlation statistical techniques were used to analyze the data. The results revealed that control systems significantly affect fraud minimization (r2 =0.254, F(1, 76) = 25.903)and also enhance organisational compliance (r = 0.513, p< 0.05) in the downstream sector of the Nigerian oil and gas industry. The study recommends that more employees be trained on risk and fraud detection and management strategies to enhance ethical and professional standard practice and also encourage usage of modern security equipments to protect sensitive data.
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Citation
Kesinro, O. R., Adenugba, A. A., and Ige, A. A. (2017). Control Systems, Fraud Minimization and Organisational Compliance in the Downstream Sector of Nigerian Oil and Gas Industry. Imperial Journal of Interdisciplinary Research. Vol. 3(10); 226-223.