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Enhancing Corporate Governance: The Value of Outsourced Compliance Support

Leave a Comment / Accounting, Audit, Investigation /

Introduction In an era of increasing regulatory complexity and heightened scrutiny of corporate practices, maintaining robust corporate governance has become a paramount concern for businesses worldwide. Nigeria, as a rapidly growing economy and a hub for various industries, is no exception to this trend. The need for effective corporate governance is not only a legal […]

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Outsourcing and Internal Audit Quality Assessments: Outsourcing and Internal Audit Quality Assessments

Leave a Comment / Accounting, Audit, Investigation /

Introduction In the dynamic and increasingly complex world of business, ensuring the quality and effectiveness of internal audit functions has become paramount. Nigerian accounting firms have recognized the need to enhance their internal audit processes to meet the growing demands of stakeholders, regulatory bodies, and the ever-evolving business landscape. One effective strategy employed by these

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Outsourcing and Cash Flow Management: Optimizing Liquidity for Nigerian Businesses

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Introduction In the dynamic and competitive landscape of Nigerian business, cash flow management is paramount for sustainability and growth. For many Nigerian businesses, maintaining optimal liquidity can be a challenging task, especially in a market known for its volatility and economic fluctuations. Outsourcing has emerged as a strategic solution, offering specialized expertise in cash flow

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Outsourcing and Sustainability Reporting: ESG Assurance for Nigerian Companies

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Introduction In an era of increasing awareness of environmental, social, and governance (ESG) issues, Nigerian companies are recognizing the significance of sustainability in their operations. Sustainability reporting, which provides transparency on an organization’s environmental and social impacts, is no longer a mere trend; it’s a business imperative. However, navigating the complex landscape of ESG reporting

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Outsourcing for Government Agencies: Optimizing Financial Processes in Nigeria

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Introduction Government agencies in Nigeria play a crucial role in delivering essential services, driving development, and ensuring effective governance. As the demands on these agencies continue to grow, optimizing financial processes becomes essential to enhance transparency, efficiency, and accountability. Outsourcing financial functions has emerged as a transformative strategy that empowers government agencies to focus on

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Outsourcing for Startups: Scaling Up with Cost-Effective Financial Solutions in Nigeria

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Introduction The startup landscape in Nigeria is vibrant and filled with potential, driven by innovation and entrepreneurship. However, startups often face resource constraints, particularly in terms of financial management and expertise. This is where outsourcing comes into play as a game-changing strategy. Outsourcing offers startups the opportunity to access specialized financial solutions while keeping costs

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FIRS recommends a 63-day timeline for completion of tax audit exercises

Leave a Comment / Audit, Nigerian Tax /

The Federal Inland Revenue Service (FIRS), on 30 April 2019, notified the public that it has introduced new measures to simplify and ease tax audit experience for all taxpayers. The new measures are intended to: 1.    Reduce tax audit cycle to 63 days 2.    Eliminate multiple tax audits by various tax authorities 3.    Facilitate a

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Supreme Audit Institutions not appreciated – Ayine, Auditor-General of the Federation

Leave a Comment / Accounting, Audit /

The Auditor-General for the Federation, Mr. Anthony M. Ayine, has identified years of weak auditing, especially in developing countries, as the root cause of poor appreciation by citizens of the value and importance of Supreme Audit Institutions for their central role in the accountability cycle across the world. Ayine spoke when he presented a paper

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Citizens To Reap Benefits Of Tax Payment – Fowler

Leave a Comment / Accounting, Audit, Nigerian Tax, Tax /

The Chairman of the Federal Inland Revenue Service, Babtunde Fowler, says with the tax policies put in place by the Federal Government, citizens will soon reap the benefits of paying tax. Fowler gave the assurance when he addressed State House correspondents after he briefed the Federal Executive Council on activities of FIRS on Wednesday at

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VAIDS: FIRS to publish list of defaulters, mid July

Leave a Comment / Accounting, Audit, Nigerian Tax /

Federal Inland Revenue Services (FIRS), Wednesday said it will publish the list of tax defaulters mid July following the commencement of compilation of data on tax defaulters, as the deadline given for the Voluntary Assets Income Declaration Scheme (VAIDS) policy expired on June 30. Chairman of the FIRS, Babatunde Fowler, gave this indications after a session with the

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