External auditors, known as PKF Professional Services, have begun auditing the activities of the Benue Investment and Property Company Limited.
The firm, recognised as a Tier-one auditing firm according to the Managing Director of BIPC, Dr. Raymond Asemakaha, was engaged to conduct a comprehensive forensic audit of the company from 2021 to 2023.
Dr Asemakaha stated that upon assuming office, he secured the approval of the governor, Rev. Fr. Dr. Hyacinth Iormem Alia, to engage PKF to conduct a comprehensive forensic audit of the company’s activities from 2021 to 2023.
This action, according to the MD, was necessary and mandatory for restructuring the organization into a profitable venture.
Dr. Asemakaha, while receiving the delegation on Monday, emphasized the significance of the audit recommendations in driving the company’s revitalization efforts.
The MD explained that the audit encompasses a meticulous review of all financial records, property evaluations, physical verification, and strategic planning for future operations, including the implementation of geofencing technology on all BIPC properties.
ALSO READ:Â Gunmen kill 30 security volunteers in Niger
He added that the auditors have been working on other critical segments of the audit process since December and were in the company to conclude their exercise.
He ordered that, in compliance with the auditors’ demands, some staff of the company in the Internal Audit and Control; Finance and Accounts; Real Estate and Infrastructure; and Security departments immediately proceed on leave to enable the auditors to have a seamless exercise.
The leader of the delegation, Mr. Odunuga Tola, and his team requested a comprehensive list of the company’s properties with their locations, Certificates of Occupancy, the company’s CAC, valuations, fixed asset reports, and Risk Register for the forensic Audit.
They also requested all payment vouchers for validation and all expense retirement receipts and documents for verification and confirmation covering the period under review and sought support from company staff to ensure a hitch-free audit exercise.
© 2023 Tribune Online - an online publication of African Newspapers of Nigeria Plc. All rights reserved
© 2023 Tribune Online - an online publication of African Newspapers of Nigeria Plc. All rights reserved