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FRAUD DETECTION AND PREVENTION METHODS IN THE MALAYSIAN PUBLIC SECTOR: ACCOUNTANTS’ AND INTERNAL AUDITORS’ PERCEPTIONS
Abstract
This study aims to identify methods to detect and prevent fraud and corruption in the public sector in Malaysia and their corresponding perceived effectiveness from the accountants’ point of view. This study uses structured questionnaires (Cates, 1985) on a population sample comprising accountants and internal auditors from the Malaysian public sector. The outcomes from the study showed operational audits, enhanced audit committees, improved internal controls, implementation of fraud reporting policy, staff rotation, fraud hotlines and forensic accountants are among the most effective fraud detection and prevention mechanisms employed in the public sector. This study contributes towards enhancing the scope and effectiveness of fraud and corruption detection and prevention in the government machinery in Malaysia.
Keywords: Fraud detection and prevention methods; public sector; forensic account.