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Big Four: These Are The Auditors Earning Billions From Nigerian Banks - Business (4) - Nairaland

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Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by gentleibraheem(m): 8:49pm On Sep 20, 2021
Mexyz:


You can still get into the top four na...

Its more difficult to get in as an experienced hire
Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by gentleibraheem(m): 8:50pm On Sep 20, 2021
Bluntemperor:


You got sense and you wandered why all the failed Banks were never indicted by these Audit Firms in the first instance.
So many Banks failures yet the Audited Accounting Firms were free,why?
Something is certainly wrong with Nigeria Systems!


Welcome to our Corporate world.
Most people tend to overlook the corruption therein whereas it is the actual wild wild west
Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by Hassanmaye(m): 8:55pm On Sep 20, 2021
Sonnobax15:
lipsrsealed
I no understand no shiit here.
Hahahhahahaha
Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by itu404(m): 9:03pm On Sep 20, 2021
zeetyzin:
And what should we do with this information?
you have just been told: intelligence and professional news
Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by Jopemj: 9:11pm On Sep 20, 2021
gentleibraheem:


How would they do that.
EFCC can't visit them because they do neat Jobs. You no fit trace those ones fraud
They will be the one to end up exposing EFCC that's why they are untouchable
Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by OLAWISE78: 9:23pm On Sep 20, 2021
Enter most banks there audited statement is always posted on the wall. Zenith bank for 2020 audited statement did not pass the true and fair mark
Bluntemperor:


You got sense and you wandered why all the failed Banks were never indicted by these Audit Firms in the first instance.
So many Banks failures yet the Audited Accounting Firms were free,why?
Something is certainly wrong with Nigeria Systems!
Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by zeetyzin(m): 9:32pm On Sep 20, 2021
itu404:

you have just been told: intelligence and professional news
And?
Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by Vision101(m): 9:43pm On Sep 20, 2021
@nairavsdollars

Na lie ooo. What about Alpha Beta? I heard they start with N1m monthly salary for fresh graduate

@me
It's an audit firm
Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by Nobody: 9:43pm On Sep 20, 2021
Bluntemperor:


You got sense and you wandered why all the failed Banks were never indicted by these Audit Firms in the first instance.
So many Banks failures yet the Audited Accounting Firms were free,why?
Something is certainly wrong with Nigeria Systems!

Not necessarily a Nigerian problem . . . happens gloabally. Read about ENRON and Arthur Andersen (the predecessor of Accenture) . . . even KPMG had a recent scandal in the U.K earlier this year., as well as were fingered in corruption cases in South Africa.

2 Likes

Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by Vision101(m): 9:45pm On Sep 20, 2021
@Undies8

And they will be paying their staffs peanut.


@me
Nay....their staff are paid highly. They recruit the very best.
Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by Snitch24(m): 9:45pm On Sep 20, 2021
CelestineNelson:
When it comes to intelligence and professional news, the number of people that respond and have something to say are always few...assuming is celebrity news, football news, romance news, bbnaija news, the cruise crew would have hijacked the thread...some of them are using the most expensive phone and laptop and you dont know what to say chai...abeg people know their lane joor hahahahahhahah


Oga shut up
How many people
Knows the term audit here
Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by Vision101(m): 9:48pm On Sep 20, 2021
@AutoChick4U

Just to audit?


@me
Hahahaha..... you call it just Auditing and investigation is a not a baby profession. Not for average brain.
Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by Vision101(m): 9:53pm On Sep 20, 2021
@Yankiss
las las, the owners of these banks being audited have their cut in those huge amounts. It's all window dressing.


@me
The auditor has fiduciary duty. So he can't trade it away for bribe. The auditors are appointed at the AGM. Due process must be followed to sack them.

Their certification is what makes the banks' figures to be accepted all over the world.

1 Like

Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by habayommy: 9:54pm On Sep 20, 2021
Very soon and by God's grace, I will be a staff in one this company in Jesus name Amen.

I am working towards that.

1 Like

Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by Vision101(m): 10:00pm On Sep 20, 2021
@Yankiss
Doesnt Nigerians have companies that can carry out independent audits? Well, the Nigerian factor would mess up everything. They fit carry style yahoo the whole bank accounts in the name of audit. ;


@me
These are world renowned firms. The figures of the banks are used all over the world. The assurance of truth is rested on the auditor's certification.

If you take a decision based on the figures and it comes out wrong as a result of manipulation, you can sue them.

It's not everything that the Nigerian factor apply.

1 Like

Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by BeboNGN: 10:03pm On Sep 20, 2021
PrinxArthur1:
Nigerian Education system is Rubbïsh, why won't they be paid such a huge amount, when our lecturers stay in their comfort zone and manufacture statistical data.

You so much hate Nigeria lecturers.... Remember, without them you're nothing, educationally.
Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by Vision101(m): 10:06pm On Sep 20, 2021
@Fiscus105

Hope you know they pay fat salaries for several Nigerians working there?


@me
They have Nigerian partners. Delliot is partly Nigerian because AW merged with it
Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by PrinxArthur1(m): 10:43pm On Sep 20, 2021
BeboNGN:


You so much hate Nigeria lecturers.... Remember, without them you're nothing, educationally.
I am where I am today due to google, wikipedia , Gupta textbooks and some foreign online groups for solving problems like calculus,fluid mechanical, soil mechanics etc

1 Like

Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by NwaIgboBoy(m): 10:50pm On Sep 20, 2021
Grant Thornton is the best
Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by blaze83(m): 11:26pm On Sep 20, 2021
Olayetan:


Someone up there was claiming they pay upto 500k for their new intake...

I'm just proving the person wrong.

I have a friend at Deloitte, 188k as a fresh graduate. I believe the other 3 should be around the same range
Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by BeboNGN: 11:32pm On Sep 20, 2021
PrinxArthur1:
I am where I am today due to google, wikipedia , Gupta textbooks and some foreign online groups for solving problems like calculus,fluid mechanical, soil mechanics etc

You still owe them, you don't have to denigrate them. They are your foundations.

Selah

1 Like

Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by PrinxArthur1(m): 1:05am On Sep 21, 2021
BeboNGN:


You still owe them, you don't have to denigrate them. They are your foundations.

Selah
I paid full price for my education in a Nigerian institution, only to get it elsewhere, thats cheating if you don't acknowledge that

1 Like

Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by AlphaSoul: 3:46am On Sep 21, 2021
dre11:

In 2020, PricewaterhouseCoopers received the highest earnings of N2.98 billion from auditing three of the big five Nigerian banks called FUGAZ.





https://www.premiumtimesng.com/news/headlines/485739-big-four-these-are-the-auditors-earning-billions-from-nigerian-banks.html
Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by Buccalcavity2: 6:03am On Sep 21, 2021
My problem with them is that.... in 2009, during financial banking crisis. These big fours also vetted the books of the banks whose figures were engineered. Regulators(SEC) also published the financials. However non of them was punished. The blame was put on investors solely, who believed that everybody did their jobs. This I find unforgivable and the greatest scam in the country.
I believe their audit na just paddy paddy audit. Dem just dey earn money for nothing. Nobody dey regulate them.
Same happened with the Guptas in SA and kpmg was punished. If na naija, stories.

1 Like

Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by stevedre: 7:23am On Sep 21, 2021
You do have a valid point. Honestly the biggest scams commited in big firms and top government agencies all over the world.

They call "bribery" lobbying and "scamming" aiming for national interest or national security.

I think proxies using the names of all this big firms handles Nigerian banking systems because how can our banks be always charging customers for silly reasons but these super power auditing firms act like its all good.

There must be some back door romance going on between the Top staffs of the bank and auditig firms because it is only in Nigeria you will save 100k in a "savings account" by January but find 95k left at the end of the year, that is if you are lucky because it can be less.

I stand to be corrected though, just poured my mind.


Bluntemperor:


You got sense and you wandered why all the failed Banks were never indicted by these Audit Firms in the first instance.
So many Banks failures yet the Audited Accounting Firms were free,why?
Something is certainly wrong with Nigeria Systems!
Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by harley88(m): 12:34pm On Sep 21, 2021
gentleibraheem:


WTF.
You've got really big dreams bro. McKinsey and vain no be moi moi oh.

Lmao, I know. Still developing myself for them. Reason I want a big four sooo bad.
Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by gentleibraheem(m): 3:04pm On Sep 21, 2021
Bagehot:


Not necessarily a Nigerian problem . . . happens gloabally. Read about ENRON and Arthur Andersen (the predecessor of Accenture) . . . even KPMG had a recent scandal in the U.K earlier this year., as well as were fingered in corruption cases in South Africa.

The Audit firm was penalized na Abi you no read the full story??.
Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by gentleibraheem(m): 3:08pm On Sep 21, 2021
stevedre:
You do have a valid point. Honestly the biggest scams commited in big firms and top government agencies all over the world.

They call "bribery" lobbying and "scamming" aiming for national interest or national security.

I think proxies using the names of all this big firms handles Nigerian banking systems because how can our banks be always charging customers for silly reasons but these super power auditing firms act like its all good.

There must be some back door romance going on between the Top staffs of the bank and auditig firms because it is only in Nigeria you will save 100k in a "savings account" by January but find 95k left at the end of the year, that is if you are lucky because it can be less.

I stand to be corrected though, just poured my mind.






Audit firms don't care how exploitive their clients are as long as it is not illegal.
Their Job is to make sure their clients books reflect their true and fair financial position/performance.
Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by Psoul(m): 8:29pm On Sep 21, 2021
zeetyzin:
And what should we do with this information

You'll not understand it cos you don't understand economics and business.

May be, you should wait till a post about BBN comes up. You'll understand that one easily and better.
Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by zeetyzin(m): 12:57am On Sep 22, 2021
Psoul:


You'll not understand it cos you don't understand economics and business.

May be, you should wait till a post about BBN comes up. You'll understand that one easily and better.
I’d resist every urge to engage you in any online exchange of words. It would be a waste of my time.
Take care
Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by Psoul(m): 6:59am On Sep 22, 2021
zeetyzin:

I’d resist every urge to engage you in any online exchange of words. It would be a waste of my time.
Take care

You wouldn't argue cos you don't have reasonable thing to say.
Come back when u think u can talk reasonably.
Bye

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