richidinho:

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CAVEAT EMPTOR

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abbey621:
Auditing encompasses a wide variety of functions. Most people are aware of financial auditors but we have so many other types of auditors from I.T to multidimensional. Currently I consult for many companies from KPMG to Insurance companies. The world of auditing is very complex at the same time very rewarding!

Keneking:
Green biro

senatorbayor:
Do we still call them Auditors or risk Management.
Any difference from the above.
I will prefer the Latter



Auditing and investigation seems to be interesting when its involved Forensic . Its appaling that Majority of the firms pay their auditors low and prefer to pay the accountant more cos they felt he is the one preparing the books forgetting that the auditor is the one checking the accuracy and documentation of the books to either qualify or disqualify it.

The only aspect an Auditor can earn big is to render consultancy services to firms but immediately you apply as an employee, You are somewhat relegated and almost been sidelined as an outcast cos the impression out that is that an auditor is coming to look for fraud forgetting that such function is the secondary .



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.

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)

What is the role of auditors in the emerging economy crisis . how can they come in to salvage the ugly issues.

Will An Audit firm turn down an offer in an oil firm where the offer is juicy due to Familiarity threats (e.g , the family to the managing partners is the Finance Director ) And is the practicable in our Audit practice these days .

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)

Is it a breach of the ethics if he accept the offer or should he disclose to the HR his relationship with the accountant before he can accept the offer as an employee.

Hoping the Gurus and accountants/Auditors in the House will bail me out

Rubyventures:

In an ideal world, if there is a conflict of interest, which may lead to impaired judgement on the part of the Auditor, then maybe he should turn down the job, but in a Nigeria scenario during the interview, when asked if he knows any body in the company? he can state this and see where it takes him.

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

MKO4ever:

What is the name of your firm and what is your area of specialization?

senatorbayor:
Do we still call them Auditors or risk Management.
Any difference from the above.
I will prefer the Latter



Auditing and investigation seems to be interesting when its involved Forensic . Its appaling that Majority of the firms pay their auditors low and prefer to pay the accountant more cos they felt he is the one preparing the books forgetting that the auditor is the one checking the accuracy and documentation of the books to either qualify or disqualify it.

The only aspect an Auditor can earn big is to render consultancy services to firms but immediately you apply as an employee, You are somewhat relegated and almost been sidelined as an outcast cos the impression out that is that an auditor is coming to look for fraud forgetting that such function is the secondary .



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.

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)

What is the role of auditors in the emerging economy crisis . how can they come in to salvage the ugly issues.

Will An Audit firm turn down an offer in an oil firm where the offer is juicy due to Familiarity threats (e.g , the family to the managing partners is the Finance Director ) And is the practicable in our Audit practice these days .

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)

Is it a breach of the ethics if he accept the offer or should he disclose to the HR his relationship with the accountant before he can accept the offer as an employee.

Hoping the Gurus and accountants/Auditors in the House will bail me out


My brother, the simple answer is; ''corruption'', auditors cannot savage this emergence economy down fall.

We have a lot of corrupt persons who are not willing to do the right things so that they can get some favour in order to cover some abnormalities.

abbey621:
Auditing encompasses a wide variety of functions. Most people are aware of financial auditors but we have so many other types of auditors from I.T to multidimensional. Currently I consult for many companies from KPMG to Insurance companies. The world of auditing is very complex at the same time very rewarding!

Quadorup:


Nice one bro. I'd like you to mentor me in the field of auditing...can I add u up bro?

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.

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

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

Intrepid01:


Chief I work with KPMG....what kind of consulting service do you offer to KPMG? which unit in KPMG are you consulting for, IT Audit unit, External Audit or MCC?

abbey621:


External audit, I'm trying to get a more permanent deal with them but they are highly competitive. Which unit are you in?

Intrepid01:


Oga you have not answered all the Qs I asked you. What type of consultancy service do you offer? KPMG external division has Energy unit, FSI and et all.

Rubyventures:
I've got a basic tax question to ask

Can someone tell me what is the legal requirement of a company in Nigeria when it comes to employee tax deductions and the rates of tax? Also do wages have a threshold at which you don't make any deductions. You can include a link if this helps. Thanks