Rubyventures:
My second question is what is the minimum amount a small company can pay to hire a good accountant ( sole company accountant) in Nigeria(Lagos) for a small start up manufacturing sector? Responsible for all the financial and Management accounting? Realistic answers please.

Depending on your revenue. You should know how much to pay. Since we're talking S.P, N75k+ seems reasonable for newly qualified accountant.

Il take tax for audit any day any time.

abbey621:


I'm a consultant so I work for many firms. Currently I'm with KPMG, State Farm and Deloitte. I specialize in I.T auditing.

5

Can you consult for my company. I work with one of the PFAS, we need to do I.T audit of our IT department. If you know you can handle it. Send me mail labiola@yahoo.com.

prekumohtim:
audit firms don't pay well . Look for a better job or start a business

That's is a very wrong advice. As a young graduate the best way to start your career is Audit firm. You need the training and the experience that will prepare you for the future challenges . I agree with you that Audit firm don't pay well but if you are lucky to get a job in big 4, it's better than getting a teller job or marketing job in the bank.

Tolakay:
This thread is created to seek assistance from practicing auditors to help with vacancy in the industry to enable people that have passion for audit get their dream job and share experience with us.

Cc @ tolakay

Hello sir ;

I understand u went for Ahmed Zakari nd Co. Now I have three questions

1) when u applied, did They state it that u must have Completed ur nysc before you apply?

2) Did they say 2.1 and above or 2.2 can apply?


3) How much does an audit trainee receive in their firm?


Thanks

lovedbyall1992:


I disagree! IA isn't boring. It is even more wider(ERM, Corporate Governance, Fraud, etc.) than External Auditing. Ask Big 4 peeps!

Am looking at it from the point of Internal Auditor not as a consultant in a firm. I presently work as Internal Auditor with over 7yrs working experience. I can tell you is boring. I also have over 4yrs experience as an external Auditor, I trained with one of the oldest local firm in Nigeria. When I left practice to pick a job offer in a company as internal Auditor, after 3 weeks on my new desk, I wanted to resign and return to my firm.Have been used to going from one client to another. Though IA is interesting when you work in environment where the tone from the top is strong. It is also dangerous when you work in environment that is full of thief and you are not ready to compromise your integrity and value.

I'll make an attempt

senatorbayor:


My question to those practicing Audting is this.

why do we have most if not all audited reports been unqualified despite the existence of fraudulent activities in that organization.

First, permit me to quote you

...cos the impression out that is that an auditor is coming to look for fraud forgetting that such function is the secondary

In addition,
1. Has it been established that there is fraud and/or material misstatement?
2.Has it come to the auditors notice (detection)?
3. Is the amount involved material? Is it fundamental?

These and few other questions have to be answered before an audit report will be qualified.

Why is it difficult these days for investors to rely on the Audited report of a company( Example is the failed banks during Soludo's and Sanusi Era , Auditors like Delloitte had performed their exercise , yet the Apex bank through its own examiners merged those banks citing weak system)

Reliability based on what criteria?
Need I remind you the auditor is a watchdog not a bloodhound.
The auditors report discloses that the financial statements showed a true a fair view, or otherwise.

The internal audit function of the affected banks might be more liable as its job include (but not limited) to compliance with industrial regulations such as the minimum capital base, ascertaining and anticipating risk resulting from regulations, competition, technology etc.

Can an aspiring Auditor who applied in a firm turned down their offers if the accountant is his blood relation (Note that the auditor has been searching for this job for some time)

In reputable professional services firms - I know of one in the big4, there are laws prohibiting two individuals from one family from working in same unit/department at same time. While I know of the laws being established I can't tell about strictness on compliance.

And yes failure of disclosure amounts to a breach.

Recently recieved an offer to work in the Internal Audit departement of an MNC (Was posted to their PortHarcourt Subsidiary), I'll be resuming middle of April.
It's an entry level position and the pay is very okay for a start(Plus Accomodation).
I'll like to know what the career progression/advancement of an internal auditor is like in Nigeria.
Secondly, as a non-accounting graduate (Bsc. Statistics) how do I go about my ACCA certification?.
Any information will be appreciated.
Thanks.

optimusmind:
Auditing is the independent examination of the financial statements of an entity with a view to make a report as to the trueness and fairness of the balances appearing therein and ensuring that such statement complies with statutory requirements. The person who makes this report is called an AUDITOR
Types of audit includes
1. Procedural audit
2. Vouching auditor.

Qualification of an auditor.
CAMA 2004 stipulates that to be appointed as an auditor, such a person must be a member of an accounting body in the county established by an act or Parliament.
These body includes
1. The institute of chartered accountants of nigiera (ican)
2. Association of National accountant (ANAN)
3. Association of Certified Chartered Accountant (ACCA)

Duties of an auditor.
The primary duty of the auditor is to make a report as to the accuracy of financial statement of companies. It his not his duty to prevent fraud and errors. Although this is considered a secondary objective.

The opinion of one of my professors, auditors are the real accountants.

.... I am still a student member of ICaN

I do not agree with your statement.

The primary duty is not to make a report as to the accuracy of financial statement. You are getting it all wrong. Auditing is an indepent

1. There are two types of Auditors- We have Internal and external Auditors. Your definition above apllies to external Auditors.

Internal auditing is an independent, objective assurance and
consulting activity designed to add value and improve an
organization's operations.


The scope of internal auditing within an organization is broad and
may involve topics such as an organization's governance, risk
management and management controls over: efficiency/effectiveness
of operations (including safeguarding of assets), the reliability of
financial and management reporting, and compliance with laws and
regulations.

Internal Auditors put a control in place to prevent or mitigate fraud. We also audit processes and procedures etc.


So, you see the difference btw the two.

BTW, I work as an Internal Auditor so i guess you know why I had to analyse it.

Huw:
Recently recieved an offer to work in the Internal Audit departement of an MNC (Was posted to their PortHarcourt Subsidiary), I'll be resuming middle of April.
It's an entry level position and the pay is very okay for a start(Plus Accomodation).
I'll like to know what the career progression/advancement of an internal auditor is like in Nigeria.
Secondly, as a non-accounting graduate (Bsc. Statistics) how do I go about my ACCA certification?.
Any information will be appreciated.
Thanks.

As a statistics graduate.. You can still register for ACCA thats if you want a career development in Accounting field.

Go to their website www.accaglobal.com. Register as a student and upload all ur necessary documents to know if u are qualified for exemptions.

Note: tuitions are paid in pounds.

Huw:
Recently recieved an offer to work in the Internal Audit departement of an MNC (Was posted to their PortHarcourt Subsidiary), I'll be resuming middle of April.
It's an entry level position and the pay is very okay for a start(Plus Accomodation).
I'll like to know what the career progression/advancement of an internal auditor is like in Nigeria.
Secondly, as a non-accounting graduate (Bsc. Statistics) how do I go about my ACCA certification?.
Any information will be appreciated.
Thanks.

I believe Auditing is 70% Statistics. I don't know much but I think writing CIA first is better for you. Perhaps, you might get exemption with it for ICAN/ACCA.

Congratulations on your new job.

labiola:


Am looking at it from the point of Internal Auditor not as a consultant in a firm. I presently work as Internal Auditor with over 7yrs working experience. I can tell you is boring. I also have over 4yrs experience as an external Auditor, I trained with one of the oldest local firm in Nigeria. When I left practice to pick a job offer in a company as internal Auditor, after 3 weeks on my new desk, I wanted to resign and return to my firm.Have been used to going from one client to another. Though IA is interesting when you work in environment where the tone from the top is strong. It is also dangerous when you work in environment that is full of thief and you are not ready to compromise your integrity and value.

I will respect your experience as I had just a taste of IA(ERM) as a consultant, myself - which I enjoyed!

MzDeeb:



I do not agree with your statement.

The primary duty is not to make a report as to the accuracy of financial statement. You are getting it all wrong. Auditing is an indepent

1. There are two types of Auditors- We have Internal and external Auditors. Your definition above apllies to external Auditors.

Internal auditing is an independent, objective assurance and
consulting activity designed to add value and improve an
organization's operations.


The scope of internal auditing within an organization is broad and
may involve topics such as an organization's governance, risk
management and management controls over: efficiency/effectiveness
of operations (including safeguarding of assets), the reliability of
financial and management reporting, and compliance with laws and
regulations.

Internal Auditors put a control in place to prevent or mitigate fraud. We also audit processes and procedures etc.


So, you see the difference btw the two.

BTW, I work as an Internal Auditor so i guess you know why I had to analyse it.

I get your point. But external auditors are the main auditors.

Internal auditors are only part of internal control systems( as rightly said by you ) established by the management. The internal auditor needs not be a member of an accounting body such as ICAN, therefore Any one can an internal auditor so long as he has knowledge of the control system. But the external auditor, it is stated by CAMA 2004 Section 358 stipulates that an auditor be a member of the accounting body.

In practice however, organizations employ a chartered accountant as an internal auditor so that the auditor may rely on his opinion in some certain matters since they are both governed by same ethics.

Therefore, internal auditors are simply "Compliance Officers" and exist solely to ensure that the control systems established within the org are observed and FACILITATE THE WORK OF THE EXTERNAL AUDITORS.

Furthermore, the duty of prevention errors and fraudulent reporting falls on the directors(CAMA S253 or so) and they achieve this using internal control measures of which internal audit is a part of.

Primarily, the recognized auditors are the external ones.

P.S. I am not saying internal auditors are not important

MzDeeb:


As a statistics graduate.. You can still register for ACCA thats if you want a career development in Accounting field.

Go to their website www.accaglobal.com. Register as a student and upload all ur necessary documents to know if u are qualified for exemptions.

Note: tuitions are paid in pounds.

Thanks a lot. I appreciate your response.

lovedbyall1992:


I believe Auditing is 70% Statistics. I don't know much but I think writing CIA first is better for you. Perhaps, you might get exemption with it for ICAN/ACCA.

Congratulations on your new job.

Thanks for the suggestion. I'll find out more about CIA.

Intrepid01:


You still have the balls to spill rubbish...it is you that is confused. Abeg pple beware of this guy o

My friend and brother
That guy is really telling you the truth o
If you are not in the finance/accounting department or a head of department you may not even be aware of it cos sometimes external audit lasts for just one or two weeks or more anyway, but it does not last long.

I am an ISO auditor. Who wants to chat?

Intrepid01:




There is no point taking you up anylonger...........ur bubble don burst.

Bros, the likes of Accenture and KPMG have external consultants like him working in different companies.

I'm interested in PCIDSS and ISO27001 audits

Angel15:
hmm..Auditors, can you answer tax questions as well?? I want to know when I'm being cheated.

Chartered Accountant (FCA) & Chartered Tax Practitioner (FCTI) is here for you. (Tax Auditor) is here for you.

Ask your question

Angel15:
hmm..Auditors, can you answer tax questions as well?? I want to know when I'm being cheated.

Interesting, am an accounts trainee with an Audit firm and so far its being a very great opportunity for learning, praticalising everything learnt in school, will be writing ICAN next diet

A lotta experienced auditors on here. Can someone on here help out a graduate with interest of having a career in audit. A trainee position or internship, just want to start learning. Your assistance will be appreciated much.

I would like to practice as an auditor, I have a 2:1 Banking and Finance, ICAN professional stage, 27yrs old. please any link will b appreciated.

pls,house how much is ican student form 'pin' nw i want to apply.

wonlasewonimi:


Bros, the likes of Accenture and KPMG have external consultants like him working in different companies.

I'm interested in PCIDSS and ISO27001 audits

Bros, please support your assertion with facts. My stand as been corroborated by at least 2 people who have worked and are still working with KPMG at the moment. I don't know about Accenture but I know about KPMG

Intrepid01:


Bros, please support your assertion with facts. My stand as been corroborated by at least 2 people who have worked and are still working with KPMG at the moment. I don't know about Accenture but I know about KPMG

Are you trying to tell me KPMG do not have management consultants working for them in different companies? Abeg go do your research, you and your corroborants need to seek for more knowledge

wonlasewonimi:

Are you trying to tell me KPMG do not have management consultants working for them in different companies? Abeg go do your research, you and your corroborants need to seek for more knowledge

Mister!!! Management Consulting is a unit in KPMG and staff of the unit are internal staff providing services to client. No one is hired as "Management Consultant" to work on behalf of KPMG at client site. I am talking as an insider.

Intrepid01:

Mister!!! Management Consulting is a unit in KPMG and staff of the unit are internal staff providing services to client. No one is hired as "Management Consultant" to work on behalf of KPMG at client site. I am talking as an insider.

Intrepid01,
Good day,
Please I am applying as an undergraduate intern at KPMG and I just contacted about an essay writing exercise to be conducted via email. Please anytip for a rookie as to what kind of eassy would be written?

Thanks

Intrepid01:


Mister!!! Management Consulting is a unit in KPMG and staff of the unit are internal staff providing services to client. No one is hired as "Management Consultant" to work on behalf of KPMG at client site. I am talking as an insider.

Guy, I don't know how KPMG Nigeria works. But I know KPMG consultants working in investment banks and big pharms. I repeat go and do your research well.

optimusmind:


Intrepid01,
Good day,
Please I am applying as an undergraduate intern at KPMG and I just contacted about an essay writing exercise to be conducted via email. Please anytip for a rookie as to what kind of eassy would be written?

Thanks

Well I don't think I can help you, I worte my test and essay like 5years ago. It is along time now. It was even different to what you guys do now. We wrote our test, waited for result, successfull candidates moved to the next office and we wrote an essay. I think you should find guys that joined in the last 24months they might be helpful. Goodluck

Intrepid01:

Well I don't think I can help you, I worte my test and essay like 5years ago. It is along time now. It was even different to what you guys do now. We wrote our test, waited for result, successfull candidates moved to the next office and we wrote an essay. I think you should find guys that joined in the last 24months they might be helpful. Goodluck

Intrepid01:

Well I don't think I can help you, I worte my test and essay like 5years ago. It is along time now. It was even different to what you guys do now. We wrote our test, waited for result, successfull candidates moved to the next office and we wrote an essay. I think you should find guys that joined in the last 24months they might be helpful. Goodluck

n

ThankThank you