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Internal Auditing In The Face Of Banking Fraud, Application Of The Benford Law On Algerian Private Bank

Author

Listed:
  • Bouchetara, Mehdi

    (Higher National School of Management ENSM, Algeria)

  • Nassour, Abdelkader

    (University of SidiBelabes, Faculty of Economy, Algeria.)

Abstract

In this paper, we analyze the importance of internal audit against banking fraud in order to ensure banking stability, using mathematic approach. We explain the steps involved in setting up an anti-fraud plan. Then, we implement two phases of this plan, namely the evaluation of the degree of exposure to the risk of fraud in a large private bank in Algeria, and then we propose a tool for detecting fraudulent acts, the Benford law. The result confirms that internal audit is an indispensable function. It enables the bank to have a solid assurance that the risks, to which it is exposed, including the risk of fraud, are under control

Suggested Citation

  • Bouchetara, Mehdi & Nassour, Abdelkader, 2020. "Internal Auditing In The Face Of Banking Fraud, Application Of The Benford Law On Algerian Private Bank," UTMS Journal of Economics, University of Tourism and Management, Skopje, Macedonia, vol. 11(2), pages 108-120.
    • Handle: RePEc:ris:utmsje:0290
    as

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    File URL: http://utmsjoe.mk/files/Vol.11.No.2/INTERNAL_AUDITING_IN_THE_FACE_OF_BANKING_FRAUDAPPLICATION_OF_THE_BENFORD_LAW_ON_ALGERIAN_PRIVATE_BANK.pdf
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    References listed on IDEAS

    as
    1. Vladan Pavlović & Goranka Knežević & Marijana Joksimović & Dušan Joksimović, 2019. "Fraud Detection in Financial Statements Applying Benford’s Law with Monte Carlo Simulation," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 69(2), pages 217-239, June.
    2. Delroy Chevers & Devon Lawrence & Arlene Laidlaw & Dane Nicholson, 2016. "The Effectiveness of Internal Audit in Jamaican Commercial Banks," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 15(3), pages 522-541, September.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Internal audit; banking fraud; benfrod law; Algerian bank;
    All these keywords.

    JEL classification:

    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing
    • M49 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Other

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