Internal Audit Values and Fraud Detection: An Empirical Analysis

Globally, organizations have various challenges of fraudulent activities and exposure to fraud risk irrespective size, location or sector. Fraud is not a new phenomenon, it occurred from centuries with numerous high profile cases, these are perceived adversely affected company’s profitability, corporate governance, dividend, business growth, this calls for study on how Internal Audit Values (IAV) can influence timely Detection (FD). Many researches been conducted FD, but many considered the IAV in their study. This probable FD Nigerian Manufacturing Industries (NMI). Survey research design was adopted population 19,443 workers ten selected industries Nigeria manufacturing 392 sample size determined questionnaire administered, gives 86% response rate. Descriptive inferential statistics were used analyze data at 5% level significance. The revealed that positively influenced (Adj.R2=0.857,F(3, 337)=667.489, p=0.000). concluded has significant impact NMI. further recommends independence internal audit unit quality team should be guaranteed. Opportunity enhances capability flagged promptly investigated, control mechanism re-enforced mitigate while technological monitoring devices adopted.