The role of financial control in reducing financial corruption

 ((An exploratory study of a sample of workers in governmental and private banks in the holy governorate of Karbala)

 and Economics / University of Karbala, which is part of the requirements for obtaining a higher diploma in financial and banking sciences

Submitted by the student

Amal Mohamed Abdel Wahhab

Supervised by

A . M . Dr. Jinan Mahdi Shahid Al-Dahan

Oversight is one of the most important means to control public money and reduce financial corruption, as it has a major role in organizing societies and its institutions. As an administrative or financial system that lacks oversight is considered an incomplete system that lacks the right ingredients at work.

This study aimed to demonstrate the impact of financial control to reduce financial corruption and the efficiency of regulations, laws and legislation issued by the Office of Financial Supervision and to provide some proposals to activate the role of financial control and to indicate the extent to which auditors adhere to the dimensions of financial control to achieve its goal, which is to reduce financial corruption.

The study population consisted of some Iraqi governmental and private banks, namely (Al-Rafidain Bank, Al-Rasheed Bank, International Development Bank, Baghdad National Bank of Iraq, Babel Bank, Gulf Commercial Bank and United Bank). The study sample included financial managers, accountants, members of audit committees and internal auditors working in these banks. Distribution of 120 questionnaires. 110 questionnaires were retrieved, and 100 were valid. To achieve the objectives of the study, the descriptive analytical method was used, in addition to using the analysis of the simple linear regression model and the multiple regression model to test the hypotheses of the study.

The researcher reached a number of results, most notably the existence of a statistically significant impact relationship between the dimensions of financial control and the reduction of financial corruption, and that employees’ adherence to professional competence and ethics in their work is one of the most important means to reduce financial corruption.

In light of the results of the study, the researcher recommended strengthening the role and effectiveness of financial control in its dimensions and continuity of work in banks, the research sample, and the need to introduce amendments to legislation, laws and regulations, and to preserve the independence of financial control staff by setting controls and determinants that guarantee this to detect cases of financial corruption.

The role of financial control in reducing financial corruption

 ((An exploratory study of a sample of workers in governmental and private banks in the holy governorate of Karbala)

 and Economics / University of Karbala, which is part of the requirements for obtaining a higher diploma in financial and banking sciences

Submitted by the student

Amal Mohamed Abdel Wahhab

Supervised by

A . M . Dr. Jinan Mahdi Shahid Al-Dahan

Oversight is one of the most important means to control public money and reduce financial corruption, as it has a major role in organizing societies and its institutions. As an administrative or financial system that lacks oversight is considered an incomplete system that lacks the right ingredients at work.

This study aimed to demonstrate the impact of financial control to reduce financial corruption and the efficiency of regulations, laws and legislation issued by the Office of Financial Supervision and to provide some proposals to activate the role of financial control and to indicate the extent to which auditors adhere to the dimensions of financial control to achieve its goal, which is to reduce financial corruption.

The study population consisted of some Iraqi governmental and private banks, namely (Al-Rafidain Bank, Al-Rasheed Bank, International Development Bank, Baghdad National Bank of Iraq, Babel Bank, Gulf Commercial Bank and United Bank). The study sample included financial managers, accountants, members of audit committees and internal auditors working in these banks. Distribution of 120 questionnaires. 110 questionnaires were retrieved, and 100 were valid. To achieve the objectives of the study, the descriptive analytical method was used, in addition to using the analysis of the simple linear regression model and the multiple regression model to test the hypotheses of the study.

The researcher reached a number of results, most notably the existence of a statistically significant impact relationship between the dimensions of financial control and the reduction of financial corruption, and that employees’ adherence to professional competence and ethics in their work is one of the most important means to reduce financial corruption.

In light of the results of the study, the researcher recommended strengthening the role and effectiveness of financial control in its dimensions and continuity of work in banks, the research sample, and the need to introduce amendments to legislation, laws and regulations, and to preserve the independence of financial control staff by setting controls and determinants that guarantee this to detect cases of financial corruption.