ABSTRACT

The aim of the study is to appraise the role of internal audit in the management of fraud with special emphasis on Zenith Bank Plc. The main objective of this study is to ascertain the role played by internal audit in the management of fraud. The specific objectives include; (1) to examine the role of internal audit in the detection of fraud, (2) to examine the role of internal audit in the prevention of fraud and (3) to examine the role of internal audit in the control of fraud. The study used chi – square for the study. The study used simple survey while the data used was primary data. The study found out that internal  audit has helped in detecting cash theft. Internal audit has helped in detecting cases of money laundering by bank staff and internal audit has aided in detecting illegal transactions committed in the bank. The study recommended that management should establish and implement periodic review of internal audit performance to ensure that its performance and value to the Institution is maximized and to ensure compliance with appropriate standards and guidance.