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Impact of Internal Control on Fraud Detection and Prevention in Microfinance Institutions
Karlstad University, Faculty of Economic Sciences, Communication and IT, Department of Business Administration. Karlstad University, Faculty of Arts and Social Sciences (starting 2013), Karlstad Business School (from 2013). (41)
2021 (English)Independent thesis Advanced level (degree of Master (Two Years)), 80 credits / 120 HE creditsStudent thesis
Abstract [en]

Microfinance institutions (MFIs) are an important tool of poverty reduction which has gained grounds over the years and grown rapidly given the services they provide. The rapid growth of the MFIs has had huge challenges on their regulatory framework which in turn has resulted in the prevalence of fraudulent cases. With the devasting effects of fraud on MFIs and the importance of MFIs in many economies this thesis aims to examine how the design and use of internal control impact fraud detection and prevention in MFIs. To achieve this aim, a qualitative study was conducted with a case study on eight MFIs in Cameroon. Primary data will be obtained from fourteen semi-structured interviews. Data will be analysed manually using thematic analysis. The findings revealed that internal control has a positive impact on fraud detection and prevention in MFIs by reducing fraud incentive, opportunity, rationalization, and capability. Further, findings revealed that the greatest causes of fraud in MFIs are poor remuneration, weak monitoring, and a poor internal control system. Therefore, for the purpose of future fraud prevention, MFIs should ensure to improve their remuneration schemes, improve1 their monitoring system and ensure regular internal control system updates in term of software and design. The study also, suggests further research on this topic in MFIs with a case study in other countries of the world. It will also be interesting for other researchers to explore how the aspect of capability as a key determinant of fraud can be reduced. This thesis contributes to academic literature as there is lack of studies on the impact of internal control on fraud detection and prevention in MFIs.

Place, publisher, year, edition, pages
2021. , p. 68
Keywords [en]
Internal control, Fraud prevention, Fraud detection, Microfinance Institution.
National Category
Business Administration
Identifiers
URN: urn:nbn:se:kau:diva-85431OAI: oai:DiVA.org:kau-85431DiVA, id: diva2:1578691
External cooperation
Microfinance Institutions in Cameroon
Subject / course
Business Administration
Educational program
Master Programme in Accounting and Control: Master (120 ECTS credits)
Supervisors
Examiners
Available from: 2021-08-11 Created: 2021-07-06 Last updated: 2021-08-11Bibliographically approved

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Department of Business AdministrationKarlstad Business School (from 2013)
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CiteExportLink to record
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Citation style
  • apa
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Language
  • de-DE
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  • sv-SE
  • Other locale
More languages
Output format
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