A Confirmatory Factor Analysis of Procurement Fraud Risk Perception Model in Governmental Units
Keywords:Risk, Fraud, Corruption, Auditor Governance, Forensic Accounting
The objectives of this research study were to analyze a confirmatory factor of procurement fraud risk perception model in governance units and to prioritize the factor. Questionnaires were used to gather the data from 461 external and internal auditors. Confirmatory factor analysis indicated that the three elements of procurement fraud risk perception model were statistically significant at 0.01. The factor loadings ranking from the highest to the lowest were 1) the compliance risk (RC) 2) the financial risk (RF) and 3) the person risk (RP).
Findings of this research can help establish and create guidelines for fraud preventing in both public and private organizations. In addition, it can be used for encouraging executives to realize the importance of internal control system which helps reflect the transparency and reliability of financial reporting of the procurement process.
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