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Politics › Re: I Have Forgiven Dino Melaye – Tinubu by labiola: 8:27am On Jul 21, 2016

Most of the comments here were not really against Remi Tinubu but their hatred for Bola Tinubu. They see this as an opportunity to take a swipe on the man. Unfortunately, who God bless , no man can curse. Bola Ahmed Tinubu keep shining.

2 Likes

Culture › Re: Ooni Ogunwusi And Gowon Worship At Cathedral Church Of Christ In Lagos by labiola: 8:51am On Jul 11, 2016

A lot of people are quick in condemning one act, we like to fight for God, who told you that God will not accept his prayers. God is bigger than any kings, Oni of Ife knows God is supreme. Why are you now helping God ? It will always a mission impossible to satisfy human being. A lot of you have not been to church in the last 6months, hence you are good in judging people.

Jobs/Vacancies › Re: PRO-ENDOZ, Real Or Fake? by labiola: 5:28am On Apr 27, 2016

In addition to all the observations mentioned, no serious employers will give an invite for interview in less than 24hrs. Please just ignored them.

Career › Re: Should I Accept This Big Job Offer? Pls Advice! by labiola: 7:30am On Apr 23, 2016

My friend, taking a decision in a situation like this take extra grace of God. I will advise you to seek the face of God. I was once in your shoe before and I must tell you, it is not all that is glitter is gold. There is a way that seems right but the end of it is destruction. Some of the companies we have in the country today entice one with good salary package, they will pay for 6months after that they start with salary delay, salary reduction, your pension deduction will not be remitted. Look at your present employment prospects, what is the career growth of the company, do they struggle to pay your salary? do they remit your pension deductions? Do they have good retirement plans? Pls consider all this before you take your final decision. Good luck bro

1 Like

Politics › Re: Obama Sends Samantha Power To Nigeria Over Boko Haram Growing Threat by labiola: 12:19pm On Apr 20, 2016

PRYCE:
How can a "Technically defeated" sect be posing a threat let alone a threat that grows??

Boko Haram Still has the capacity to attack a GOC's convoy and we letting our guard down cos one dullard in Aso Rock went "technical"??

Well, Boko Haram are still technically killing people while we technically playing down the Rhetoric!

Lalasticlala

Ode ni. In the last one month how many bomb blast have you experience in the country? Oga wake up and smell the coffee. You easily attack the president as if is a norm to do. How would you feel if someone refer to your father as dullard? Enough of this nonsense.

3 Likes

Politics › Re: Boko Haram Ambushes Victor Ezugwu's Convoy - Premium Time by labiola: 5:08pm On Apr 19, 2016

Some people are so daft that they enjoying seeing evil happen in the country. They keep saying negative words. Are you expecting Boko Haram to continue killing people? For the past 3 weeks or more we are yet to hear any bomb blast, is it that a good sign? Pls let's be positive .

Career › Re: Thread For Auditors & Potential Auditors by labiola: 7:58am On Apr 04, 2016

Perpetual459:
Thanks for the response. He is planning to start his own biz next month but he just want to be paying something as tax b4 he start biz.Though I told him to start biz first b4 paying bt he insisted.

Bros, it is not right for him to pay tax if his not earning income. But if he chose to pay tax, let him get paye ID and pay to the govt account.

Career › Re: Thread For Auditors & Potential Auditors by labiola: 6:21pm On Apr 03, 2016

Perpetual459:
this is d 2nd question I will ask on this thread but no answer,hope d thread is for accounting professional?

Bros sorry about the delay in response to your question. As for your friend's tax issue, you need to give more info. Is your friend now operating his own company? If yes, is the coy Limited or business name? If business name he will be assessed to tax through direct assessment to the state Board of internal revenue he resides. If limited, let him prepare financial statement and pay his tax accordingly to FIRS.

Career › Re: Thread For Auditors & Potential Auditors by labiola: 7:13pm On Apr 02, 2016

MzDeeb:
I totally agree with you that External Auditing is statutory.

However, i have my reservations on you last statement - *bombarding *accountant like you* with duties*? I'm quite sure you really do not understand the job duties of an Internal auditor else you would not have made that statement.

However, having tasted the two[ both external n Internal] . I prefer Internal Auditing any time any day because Internal Auditors have numerous opportunities for professional advancement due to their exposure to various business processes and sectors of the economy.

In the course of their engagements, Internal auditors gain domain and subject matter expertise while reviewing various business processes in line with best practices.

Combine this with business knowledge and you have professionals with the potential to function as better administrators than their operational
counterparts when the opportunity arrives.

In summary, this means that in future, i can fit into any department and do exceptionally well as a result of my knowledge and expertise gained from various engagements.

There are so many advantages of being an external auditor as well. Which i enjoyed when i was one.

However, i would appreciate it if we auditors stop distinguishing one as being superior. We all are auditors. We are one.

I agree with your view. However, I will take external audit over Internal Audit. I like the scope of IA is very wide, if you work in a big organisation, IA will be interesting because of your exposure to all the units or department. In writing your audit programme, you have to do your Kyc as part of your planning stage. This will give you the opportunity to understand their process and work flow, which will form your basis of your Programe. My issues with IA is that the management perspectives towards audit report. Having spent time reviewing a particular unit and write a beautiful report, the management will just collect is with no actions, this happens a lot in one man structure. I love External Audit because it helps you to always be on top of your job, you can't go to a clients office where you have all their finance staff being CA, they will mess you up.

#Peace#

Career › Re: Thread For Auditors & Potential Auditors by labiola: 6:31pm On Apr 01, 2016

Intrepid01:
Oga Auditor.....Yes Internal Auditor work for management, but Internal Auditors must not be responsible for putting controls in place knowing fully well that they will be responsible to review it for adequacy and efficiency; that is called Self-Review.

Even when an Internal Auditor notes exception, all they do is suggest remediation action, implementation of the action is the responsibility of process owners. Correct me if am wrong

It seems am enjoying you, let us keep exchanging ideas. It is good for our career. keep it up brother.

1 Like

Career › Re: Thread For Auditors & Potential Auditors by labiola: 6:26pm On Apr 01, 2016

mascot87:
I am an ISO auditor. Who wants to chat?

What do you mean by ISO auditor? what do you do as ISO auditor? Thanks

Career › Re: Thread For Auditors & Potential Auditors by labiola: 6:23pm On Apr 01, 2016

Intrepid01:
Internal auditors do not put control in place. In the 3 lines of defense, IA is the 3rd line of defense that provides assurance on controls put in place by Management around business operations. Please correct me if am wrong.

Yes , it is responsibility of the management to put in control. However, IA has the responsibility to check if the controls are adequate or not, where is inadequate , IA will recommend to the management. There are two major functions of IA.

1. Assurance service

2. consulting service.

These two major services can be further divided into so many functions such as investigation, operational Audit, financial Audit, inventory check etc.

Career › Re: Thread For Auditors & Potential Auditors by labiola: 9:40pm On Mar 31, 2016

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.

3 Likes

Career › Re: Thread For Auditors & Potential Auditors by labiola: 9:22pm On Mar 31, 2016

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.

Career › Re: Thread For Auditors & Potential Auditors by labiola: 9:11pm On Mar 31, 2016

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.

Career › Re: Thread For Auditors & Potential Auditors by labiola: 2:35pm On Mar 31, 2016

Rubyventures:
I find Auditing boring.

Internal Audit is boring but as an external Auditor, it's sweet ask people working with Big 4, they will tell you. I love being an external auditor.

Politics › Re: How Saraki Looted Kwara – EFCC, CCB by labiola: 10:08am On Mar 19, 2016

Anytime I see my generation who should reasoning with their brains but chose to do with their anus because of their tribes, religion, beneficiary of the corrupt leaders. I feel so sad. How could anyone be supporting Saraki and other corrupt leaders, who acquired our common wealth for their personal and that of their family. I wish you all best of luck. Orun ya Bo Ki n se oro enikan.

Business › Re: Get A Tax Identification Number For Your Business Today by labiola: 9:07pm On Mar 11, 2016

EnterPRO:
after you get your TIN, what next?

what do you do with it?

how do you calculate your tax and pay?

or we wait for Ambode to come and collect it?

You can send me a mail on labiola@yahoo.com for your tax issues

1 Like

Family › Re: As A Husband, Or Wife, Who Will You Make Your Next Of Kin by labiola: 11:22am On Mar 08, 2016

My wife is my Next of kin. The reason is that everything I have is written on our names, Mr and Mrs. Men need to protect their family from any form of external attack.

1 Like

Politics › Re: Fuel Re-sellers Razed By Fire In Isolo Lagos State - Graphic Photos by labiola: 12:55pm On Mar 01, 2016

[quote author=dunkem21 post=43379761] angry

Gory sight ..

I blame Buhari for not making PMS available for the common man to buy @ pump price thereby encouraging sale of black market .. angry

You will still blame Buhari even for your own in ability to obey the law of the land

Agriculture › Re: Complete farm solution: GeGetting Hectares Of Farmland From Ogun,OYo, by labiola: 7:03pm On Feb 11, 2016

Kindly help me confirm this info I got from someone. I was told that one can lease one hectare of land in ogun state for a year for 7,500. This can be done through Farmers' cooperative society. Am planning to give someone Money to help me get one. Pls how true is this info? Thank you

Career › Re: Tax Professionals Forum by labiola: 8:15am On Feb 04, 2016

Propertyville:
Directors of a Limited Liability Company earns 500,000 per month as Director Allowance. Please what is tax calculation

10% Withholding tax to State Inland Revenue.

Career › Re: Tax Professionals Forum by labiola: 9:36pm On Jan 30, 2016*

emelicoby:
Please am having a challenge in accounting entry.
Assuming company A makes a contribution of N20,000 as pension contributions and also the company deducts from the employee his own quota at source which is N20,000 from his salary which is in line with the pension act, which account should b debited and credited?
Looking forward to your prompt response.
Thank you

Let me give you an example.
Let say your grosss salary is 120k. You pay tax of 10k and 20k as your pension deduction.
Dr salary with 120k
Cr Accrued PAYE (liability) with 10k
Cr Accrued pension (liability) with 20k
Cr means of payment bank/chq with 90k that is what come to you as a salary.
That is the first leg.
The second leg is to Dr Acrrued paye and Accrued pension ledger above with 10k & 20k respectively and Cr the means of payment. That means the ledger above become nil.
For the employers deduction, Dr your GL in your SFPL with 20k and credit your bank.
Hope is clear to you.

3 Likes

Career › Re: Tax Professionals Forum by labiola: 3:44pm On Jan 30, 2016

I will like to address all the business men/women on this forum on the risk and threat to their business. It is important that every business owners should not play ignorant with the issue of taxation. The present administration consider taxes as major revenue generation to finance the budget, hence there is going to be an aggressive implementation of tax laws in Nigeria. I know we are aware of the stamp duty on every 1,000 transactions. It is important for us to be aware of all this things. Tax evasion and avoidance are serious crime, please don't be caught on the wrong side of the law. Let me quickly tell you some basic things you need to know .
1. Get your TIN if you are yet to do so. TIN is your Tax Identification Number. The law allow you to register with FIRS within 6mth of your company incorporation. Failure to do so will expose you to unnecessary penalties.
2. Do your monthly VAT remittances. If you have commenced business ensure you do your monthly remittance of 5%VAT to the firs. Don't say I didn't collect VAT, go and do a nil return.
3. Get a tax clearance for your business. It will help your business.
4. Get an audited financial account and ensure you keep records of your expenses. If possible make sure you do your business through banks. It will help you to tracks your expenses.
5. Call me as your financial advisory, auditor and your tax consultant. Labiola@yahoo.com or labiolanlpcpfa@gmail.com.

Family › Re: If You're Happily Married, Please Share Your Story by labiola: 8:25am On Jan 05, 2016

Nice topic, it is good to share good news atimes to encourage someone. Marriage is good if one gets it right. For me, my Marriage has been good and interesting. My wife is one of the few the Bible refers to as virtuous woman. We married seven years ago and I must confess am luck to have such a beautiful woman as a wife not only that my wife is good , I have a wonderful in laws too. I will share 2 major areas where marriage used to have issues.

1. Financial issue: When I got married to my wife her salary was more than my own, but my wife give me 100% access to her money, she has never challenged my decision when come to spending, though as an Accountant am more conservative than her. After she delivered our first born (twins), she resigned her job to join the family in Lagos, because she was working outside Lagos and we only depend on my salary that was less than N80,000 then. There was a time she needed N5,000 and I told her we don't have money, in actual fact we had money but was budgeted for something else, so she insisted that I must give her the money, I was angry because I expect her to understand our cash flow, so I went to work upset, when I returned from work she served me my food after eaten. she showed my an alert of N90,000 paid into her account from her former employer being outstanding allowance they owned her , something told me that if she were to be another person, she will keep the money and spend it without my consent and I will not no. During this period e she was not working we only depending on my small salary. From that day, I made a decision never to hid anything be it my salary, allowance, gift , returns on investment from her. In fact , I operate full disclosure policy .
2. Infidelity : This is an area that kills so many marriages . I made a decision before my marriage that I will never cheat on my wife, I went ahead to place a curse on myself and to the glory of God , I have been faithful with that decision. My wife too has been faithful to our marriage oath. She has to resign her employment because someone was demanding for sex and because she works in hospital environment where she has to do night duty with the same man that was demanding for sex, she resigned.

In the last 7 yrs of our wedding, God has been good to us , because we keep our part of the marriage oath. I thank God for his goodness and mercy. That is my own story.

13 Likes

Politics › Re: We Now Have 23hrs Eletricity Supply In My Area: Is It The Same In Your Own Zone? by labiola: 9:14pm On Dec 27, 2015

In all honesty, for the past 4days on the roll, we didn't have light for 20mins. The light has been stable for more than 23hrs. Let's praise the government where is necessary.

2 Likes

Career › Re: Tax Professionals Forum by labiola: 7:04am On Dec 26, 2015

We should all be ready to pay taxes by next year. Govt is looking at that sector to finance budget. So brace up for next year. You need a tax consultant? My firm is ready to serve you.

Sports › Re: Obafemi Martins Visits Ooni Ogunwusi - Pictured by labiola: 12:00pm On Dec 20, 2015

They two of them have relationship for years. The Oni of Ife sold most of the obagoal properties to him in lekki axis.

Politics › Re: 5 Months As A Governor, I Am Already Tired - El Rufai by labiola: 2:18pm On Nov 25, 2015

It quite unfortunately that a lot of people in this forum dont think before they write. You guys fail to understand the reasons why he said so. It seems lack of employment is really telling on the thinking of our youths.

Jobs/Vacancies › Re: These Experienced Positions Are Needed by labiola: 6:43pm On Nov 17, 2015

@ Debbie.

Am interested, am presently working in one of the financial institutions as Manager, Internal Audit with over 10yrs working experience. Bsc, ACA, MBA.

Culture › Re: First Public Photo Of Adeyeye Ogunwusi, As He Prepares For His Coronation by labiola: 6:47pm On Oct 27, 2015

We usually call him ''yeye", we worked together in the same building , he was the CEO of one of the subsidiaries of the parent company I worked for. He's humble, generous and playful. one thing I have learnt from his appointment is that one should never underrate anyone, one should try as much as possible to nice to people , you can never tell where you are going to meet that same person again. I know a lady who worked for him and defrauded him, the day he knew about the fraud, he broke down and cried because he really trusted this young lady with his money being the cfo of his coy. To the new Oni of Ife, Adeyeye Enitan Ogunwusi, I congratulate you sir. Oye a mo ri o.

2 Likes

Phones › Re: Why I Will Never Use Tecno Phones Again (good Reason) by labiola: 8:41am On Aug 31, 2015

Tecno is a fraud, we all must fight them. I bought their H6 last year, less than a year the phone refused to charge even when the charging sign is blinking and showing charging. I went to their useless carlcare and I met a lady who told me I have to pay N 4,650 to fix the screen damaged before she can fix the charging problem despite the fact that I didn't complain about the screen but charging problem. The number of people that flowing into their carlcare is enough evidence that something is wrong with Tecno. I have decided not to buy any of this useless china phones again. Better save enough money and buy a good phone.

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