60 % revenue lost to fraud in MDAs – Auditors


Emma Ujah, Abuja Bureau Chief

Fraud in public organisations have continued unabated, with  60 % revenue lost  in Ministries, Departments and Agencies (MDAs) at various levels..

This was the position of Forensic Auditors under the aegis of the Association of Forensic and Investigative Auditors (AFIA) disclosed during its training programme in Abuja, at the weekend.

According to the organization, MDAs lacking proactive fraud preventive measures were the most vulnerable.

The President of the association, Mrs Victoria Ayishetu Enape, noted that, while the regulatory measures and internal controls in reporting requirements help to lessen the possibilities for falsified activities to take place, history had  shown that indigenous employees could manipulate even the best control systems for personal gain.

She explained that forensic and investigative auditors were trained with…

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