Skip to main content

FG Hires 18 Firms For Forensic Audit Of Mdas

The Federal Government has hired 18 professional audit companies to carry out a forensic audit of its agencies to access true state of their revenue generation. Accountant - General of the Federation (AGF), Mr. Ahmed Idris, said the audit process would cover the period of 2010 to 2015, and would be completed in 18months. Idris said that the audit would also cover capital , personnel and overhead expenditure across all Federal Government ’ s Ministries , Departments and Agencies (MDAs ).

Addressing the consultants selected to handle the task at an interactive session yesterday in Abuja , the AGF, represented by the Director of Funds, Alhaji Salau Zubairu , said the audit would aid the Federal Government in arriving at better decisions, in view of the dwindling inflow of government revenue .

He said the first phase of the assignment was divided into two categories and will involve 33 agencies. Category A comprises eight agencies with a turnover of above N100 billion and category B involves 25 agencies with a turnover of below N100billion.

The AGF said some of the terms of reference given to the consultants was to review the sources of revenues accruing to the organisations and the effectiveness of revenue generation and accounting. Some of the terms of reference given the consultants for the audit process include , to: Undertake a critical review of the financial statements of the organisations over the last five years, confirm the sources and quantum of funding received from government, whether loans, subventions or grants and reconcile with treasury records; study in detail the enabling laws establishing the organisations with a view to identifying possible constraints and areas of improvement ; and determine the amount of remittances made to the Consolidated Revenue Fund (CRF ) over the last five years in the form of operating surplus and revenue dividends .

Also , the consultants are to determine the extent of compliance with extant regulations regarding the adequacy and regularity of remittances to the CRF ;and identify all income and interest thereon and make adequate recommendations on the future management of the organisations .

Ahmed said the consultants were to establish the cost of operations and make appropriate recommendations to understand real personnel cost and cost associated with revenue collection or revenue sharing arrangement . He assured the consultants of the support and assistance of the OAGF in discharging their duties. He said however, that their activities would be closely monitored by experienced staff of the OAGF to ensure that ”government gets value for money”.
Post a Comment

Popular posts from this blog

U.S. Military Helicopter Crashes In Iraq On Thursday, Killing 7 People On Board

One of the U.S. military helicopter in Iraq has crashed after hitting a power line in Iraq's western Anbar province, killing all seven personnel aboard.

According to a statement from Pentagon this morning, the officials said the crash of the HH-60 Pave Hawk helicopter occurred Thursday afternoon near the town of Qaim.

"All personnel aboard were killed in the crash," Brig. Gen. Jonathan P. Braga, director of operations, Combined Joint Task Force - Operation Inherent Resolve, said in a statement.

"This tragedy reminds us of the risks our men and women face every day in service of our nations," he said. "We are thinking of the loved ones of these service members today."

The statement further said;

Badoo Srine Discovered,Alaka Abayomi Of Alaka Petroleum Apprehended(Video)

The Nigerian police SARS, IRT and RRS, has arrested a popular independent oil marketer of Alaka petroleum Alhaji Abayomi Alaka . Following investigations of the recent killing of a family of five over the weekend , kudos to the gallant men of the Nigerian police

Wife Of Donald Trump Junior Files For Divorce

(Reuters) - The wife of Donald Trump Jr., the eldest son of U.S. President Donald Trump, has filed for divorce in New York, according to court records.

Vanessa Trump, a former model and actress, and Trump Jr. said in a joint statement on Thursday: "After 12 years of marriage, we have decided to go our separate ways."

The statement was provided by the Trump Organization, the president's business empire, which his son helps manage.

Further details were not immediately available on the uncontested divorce filing by Vanessa Trump in a New York state court. She and Trump Jr. have "enormous respect" for each other, according to the joint statement, which also asked for privacy.