Author name: Oluwole Adebayo

An internal audit is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps organizations accomplish their objectives by bringing a systematic and disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. In today’s competitive business environment, it is essential for …

Why And When You Need to Conduct Internal Audit In Your Business Read More »

Accounting is an essential part of any business or organization. It involves the recording, classifying, and summarizing of financial transactions, as well as interpreting and presenting financial information. The role of an accountant and a chartered accountant in Nigeria is significant in maintaining the financial health and sustainability of businesses and organizations. While both of …

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Running a profitable business in Nigeria, like in any other country, requires careful planning, efficient management, and a solid understanding of the local business landscape. Nigeria is a large and diverse country with a population of over 200 million people, making it the most populous country in Africa. It is a fast-growing economy with a …

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Incorporating a company in Nigeria requires several steps, including the registration of necessary documents with the Corporate Affairs Commission (CAC), the regulatory body responsible for regulating the formation and management of companies in Nigeria. This article will provide a detailed guide on the documents required for incorporating a company in Nigeria.   MEMORANDUM AND ARTICLES …

Document Needed to Incorporate a Company In Nigeria Read More »

Introduction: Audit firms play a critical role in the economic system. These firms help companies, governments, and non-profit organizations maintain transparency and accountability. As businesses grow and expand, they require the assistance of audit firms to ensure that they are compliant with the laws and regulations, and their financial statements are accurate. Large organizations usually …

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A financial audit is a process of reviewing and verifying an organization’s financial records to ensure their accuracy and compliance with the generally accepted accounting principles (GAAP). It is an essential component of effective financial management for any organization, whether it is a non-profit or a profit-oriented entity. Financial audits are typically conducted by external …

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Audit fees can be a significant cost for businesses, especially for those with complex operations or regulatory requirements. However, there are several ways you can reduce your audit fees substantially. Here are some strategies to consider:   Prepare well in advance: A well-prepared company can save time and reduce audit fees. Before the audit, prepare …

How to Reduce your Audit Fees Substantially Read More »

As a business owner in Nigeria, it’s important to find ways to reduce your company’s income tax bill. Here are easy ways to save company income tax in Nigeria:   Take advantage of tax deductions: Tax deductions are expenses that can be subtracted from your company’s taxable income, reducing your tax bill. Common deductions include employee …

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A tax clearance certificate is a document issued by the Federal Inland Revenue Service (FIRS) that confirms that a company has fulfilled its tax obligations for a given period. The certificate is usually required when bidding for contracts, applying for loans or permits, and other business transactions. In this guide, we will outline the steps …

How to Obtain Tax Clearance Certificate in Nigeria Read More »

Setting up a company in Nigeria can be a daunting task, especially for foreign investors or entrepreneurs. The country has a complex legal and regulatory framework that can be challenging to navigate, but with the right guidance and preparation, it is possible to establish a successful and profitable business. In this article, we will highlight …

Setting Up a Company in Nigeria: Important Things to Consider Read More »