₦airaland Forum

ogbuefi677:
Not a fan of Malami but this is bullcrap.
You need to tell us how Dino actually stole money not belonging to him.
All these "how Dino went to shit in the US" is stale when we have minister for disaster, Bashir Ahmed etc stealing the zoo dry.

Ur accusations are baseless until u provide concrete evidence. If na lie, go court

Yankee101:
Are you aware Sowore had and still have foreign bank accounts as a presidential candidate?

The constitution said public office holder,not politicians who havent occupied public offices before lyk Sowore..Those account would b closed if he had won d election.

I believe that was part of the reason why Ibrahim Magu took home some sensitive files with him. He knows what will happen to them if he leaves it in his office. They turned around and accused him of taking sensitive files home to shield some corrupt persons from prosecution

Small pickin

Will close after winning elections indeed

DjRicky:
The constitution said public office holder,not politicians who havent occupied public offices before lyk Sowore..Those account would b closed if he had won d election.

Rigel95:
Lol... so because they are businessmen, they should not participate actively in politics again??

Yes they can. But must follow the law ok

ogbuefi677:
Not a fan of Malami but this is bullcrap.
You need to tell us how Dino actually stole money not belonging to him.
All these "how Dino went to shit in the US" is stale when we have minister for disaster, Bashir Ahmed etc stealing the zoo dry.

You don't have a clue. Here's what they're saying: The constitution says a senator can't have foreign accounts but Senator Melaye operated two while serving as a senator. They're saying he broke the law. That means anything to you?

Yankee101:
Why is 90% of government resources stolen, in some instances up to 100%, with no consequences while theft in the banking sector is less than 1% of depositors funds?

You think it's recovery and fraud investigation?

GAAP is an accounting regulatory framework, it doesn't prevent anything. It simply tells you how to record and report money already spent.

I laugh in Spanish. Do you know that these are the core frameworks and standards both Auditors and accountants are required to follow? We also have GAGAS ( also known as Yellow book) which is prevalent within governement agencies. For God’s sake, public forums have different folks from different works of life who can either choose to be active or silent.
Oga, Auditors are just a subset of the accounting profession and are mandated to follow established frameworks while conducting their assignments.
Can I ask you a simple question? As an ICAN holder, which framework were you guys trained on as a yardstick/ benchmark while conducting an audit assignment?

Secondly, with respect to controls in government agencies as compared to banks and other private institutions. Setting tone at the top is one of the core pillars of having functioning controls. Here in Nigeria, right from the president down to the clerks are culpable. You won’t be surprised the extent of collusion in government agencies while the so called employees of the Auditor generals office palms are greased. Do you think there are not controls within those agencies? The main issue is the enforcement, compliance, audit and investigation aspect which ought to serve as both deterrent, detective and corrective measures.

Do you understand or you would prefer more tutorials?

Since you don't understand English let me break it down for you.

It's not about accounting. Nigeria adopts the most current accounting standards as soon as they are updated, be it GAAP or The Fiscal Responsibility Act.

Accounting has never stopped fraud. What I'm talking about is beyond your scope. I'm talking about automation, artificial intelligence, using blockchain technology to track all spending and final beneficiaries of funds, 32bits encryption for payment systems and electronic verifications. People don't steal because they can, they steal because they can get away with it. From the Enron scandal to the closure of Arthur Anderson and it's asset acquisition by KPMG, all accounting is after the fact. I'm not talking ICAN. Even if you want to talk to me about accounting let's talk the big four or CFA not your local naira and kobo ICAN

Gbabe2:
[color=#006600][/color]

I laugh in Spanish. Do you know that these are the core frameworks and standards both Auditors and accountants are required to follow? We also have GAGAS ( also known as Yellow book) which is prevalent within governement agencies. For God’s sake, public forums have different folks from different works of life who can either choose to be active or silent.
Oga, Auditors are just a subset of the accounting profession and are mandated to follow established frameworks while conducting their assignments.
Can I ask you a simple question? As an ICAN holder, which framework were you guys trained on as a yardstick/ benchmark while conducting an audit assignment?

Secondly, with respect to controls in government agencies as compared to banks and other private institutions. Setting tone at the top is one of the core pillars of having functioning controls. Here in Nigeria, right from the president down to the clerks are culpable. You won’t be surprised the extent of collusion in government agencies while the so called employees of the Auditor generals office palms are greased. Do you think there are not controls within those agencies? The main issue is the enforcement, compliance, audit and investigation aspect which ought to serve as both deterrent, detective and corrective measures.

Do you understand or you would prefer more tutorials?

Yankee101:
Since you don't understand English let me break it down for you.

It's not about accounting. Nigeria adopts the most current accounting standards as soon as they are updated, be it GAAP or The Fiscal Responsibility Act.

Accounting has never stopped fraud. What I'm talking about is beyond your scope. I'm talking about automation, artificial intelligence, using crypto currency technology to track all spending and final beneficiaries of funds, 32bits encryption for payment systems and electronic verifications. People don't steal because they can, they steal because they can get away with it. From the Enron scandal to the closure of Arthur Anderson and it's asset acquisition by KPMG, all accounting is after the fact. I'm not talking ICAN. Even if you want to talk to me about accounting let's talk the big four or CFA not your local naira and kobo ICAN

Now I understand you are a big buffoon. Yes, I didn’t want to call you out earlier but at times one has to stoop low to educate some educated illiterates.
You made mention of AI, automation and all sort. You seems to be new to this field and decides to spew thrash. Oga Ade, even if you introduce all these advance technologies, can they work effectively if the controls are subverted or collusion is at play?Have you forgotten that some logic’s would be fed into these technologies so as to predict and preempt fraudulent transactions?
You are indeed a newbie in all ramifications.
Try and get your facts right going forward before you engage learned folks in areas you know little or nothing about.

Yes, auditing is after the fact but it has been like that from time immemorial. Yes, controls can be automated but if the control environment is weak, all these advance technologies can’t do any thing.

For your records, fraud and failed controls are obtainable all over the world except that there are adequate checks and balances in saner clime.

Ode, did you say big four? I have worked with KPMG LLP Baltimore MD and currently working with an agency that has over 700 billion dollars as annual subvention.

Dodo, you are talking to someone with a vast experience spanning from Public accounting ( UK & US) to Information Assurance/ Cybersecurity. .

I leave you with that and sleep tight with your security job somewhere.

Yankee101:
Since you don't understand English let me break it down for you.

It's not about accounting. Nigeria adopts the most current accounting standards as soon as they are updated, be it GAAP or The Fiscal Responsibility Act.

Accounting has never stopped fraud. What I'm talking about is beyond your scope. I'm talking about automation, artificial intelligence, using blockchain technology to track all spending and final beneficiaries of funds, 32bits encryption for payment systems and electronic verifications. People don't steal because they can, they steal because they can get away with it. From the Enron scandal to the closure of Arthur Anderson and it's asset acquisition by KPMG, all accounting is after the fact. I'm not talking ICAN. Even if you want to talk to me about accounting let's talk the big four or CFA not your local naira and kobo ICAN

Newbie, here is a link for you to grapple with. It contains tons and tons of fraudulent and sharp practices by employees of an organization in the US. Despite the introduction of advance technologies, these crooks were able to bypass these controls. Guess how they were caught? Whistleblower hotline, audit, compliance and investigations. (https://www.dodig.mil/Criminal-Investigations/).

When they start insulting they don't have anything reasonable to say

I know say e pain you.

Enjoy your dumbness and keep working for people. Poor man

Gbabe2:
[color=#006600][/color]

Now I understand you are a big buffoon. Yes, I didn’t want to call you out earlier but at times one has to stoop low to educate some educated illiterates.
You made mention of AI, automation and all sort. You seems to be new to this field and decides to spew thrash. Oga Ade, even if you introduce all these advance technologies, can they work effectively if the controls are subverted or collusion is at play?Have you forgotten that some logic’s would be fed into these technologies so as to predict and preempt fraudulent transactions?
You are indeed a newbie in all ramifications.
Try and get your facts right going forward before you engage learned folks in areas you know little or nothing about.

Yes, auditing is after the fact but it has been like that from time immemorial. Yes, controls can be automated but if the control environment is weak, all these advance technologies can’t do any thing.

For your records, fraud and failed controls are obtainable all over the world except that there are adequate checks and balances in saner clime.

Ode, did you say big four? I have worked with KPMG LLP Baltimore MD and currently working with an agency that has over 700 billion dollars as annual subvention.

Dodo, you are talking to someone with a vast experience spanning from Public accounting ( UK & US) to Information Assurance/ Cybersecurity. .

I leave you with that and sleep tight with your security job somewhere.

What's the meaning of subvention? You definitely don't know what you're talking about

The entire US 2020 budget is $4.79 trillion.

Defense has the largest cut and it's the only one up to 700billion in the world. And if you work with the DoD you're one insignificant bean counter. I'll rather be a defense contractor than a defense employee.

If you say it's the private sector, Wal-Mart is the highest revenue grossing company in the world and its around 500billion.

Gbabe2:
[color=#006600][/color]

Now I understand you are a big buffoon. Yes, I didn’t want to call you out earlier but at times one has to stoop low to educate some educated illiterates.
You made mention of AI, automation and all sort. You seems to be new to this field and decides to spew thrash. Oga Ade, even if you introduce all these advance technologies, can they work effectively if the controls are subverted or collusion is at play?Have you forgotten that some logic’s would be fed into these technologies so as to predict and preempt fraudulent transactions?
You are indeed a newbie in all ramifications.
Try and get your facts right going forward before you engage learned folks in areas you know little or nothing about.

Yes, auditing is after the fact but it has been like that from time immemorial. Yes, controls can be automated but if the control environment is weak, all these advance technologies can’t do any thing.

For your records, fraud and failed controls are obtainable all over the world except that there are adequate checks and balances in saner clime.

Ode, did you say big four? I have worked with KPMG LLP Baltimore MD and currently working with an agency that has over 700 billion dollars as annual subvention.

Dodo, you are talking to someone with a vast experience spanning from Public accounting ( UK & US) to Information Assurance/ Cybersecurity. .

I leave you with that and sleep tight with your security job somewhere.

Yankee101:
What's the meaning of subvention? You definitely don't know what you're talking about

The entire US 2020 budget is $4.79 trillion.

Defense has the largest cut and it's the only one up to 700billion in the world. And if you work with the DoD you're one insignificant bean counter. I'll rather be a defense contractor than a defense employee.

If you say it's the private sector, Wal-Mart is the highest revenue grossing company in the world and its around 500billion.

Can you see that I am not your mate? Your idiotic nature thought you were more superior in one form or the other.

You don’t even know what a subvention is? You thought you could bully your way through by blowing grammar and throwing some technical vocabularies in here.

I am just tired of your folly. You thought I am one of the dumb headed you could harass with CFA or big 4 slogan.

Shame catch you. Next time, try and get your facts right before delving into an unfamiliar terrain. Learn to apologize where necessary and move on. No one knows it all.
Be patient and don’t have this notion that once you live somewhere, you are superior to others. Anyone can burst your bubble.

God bless you, kid.

Yankee101:
When they start insulting they don't have anything reasonable to say

I know say e pain you.

Enjoy your dumbness and keep working for people. Poor man

I wish I could respond to this. I only reiterated and defined why were have preventive, detective and corrective controls. I was trying to educate you on IFRS , GAAP and GAGAS standards and how applicable it is to the accounting/ auditing profession.

Don’t worry, if I am poor or not, let God judge. As for you, Nairaland Chairman/Hushpuppi, ride on.

I would not have stoop low to your level if you didn’t insult.

Anyway, I can conclude you are just a millennial and doing what you guys know best.

All the best, kid.

SLAP44:
With this your comment, you're not seeing anything yet

Aje he can't see anything at all, they re the people always looking for someone to blame for there misfortune

Olatomiwami:
That's stale, everyone that cares for Nigeria then knows the way GEJ and PDP was going then, Nigeria will b a sad story, they are the architect of how we blindly voted for Buhari, have u seen where a winning horse is replaced before?

I beg to differ, you blindly voted for buhari not we, cos some of us were not blind and we adviced appropriately on which is best of all the wrong lawful options which at that time was still GEJ but you all refused. You all were overwhelmed with confusion and hate. Just maybe, if GEJ had continued, we might have had a better lawful options in 2019.

A winning horse can fall short at anytime and might end up not winning the race.

frankyychiji:
My brother.. while we are here arguing and fighting for them.

No be small.matter Corruption.Inc