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Auditing
What is auditing?
An audit is an examination and verification of a company’s financial and accounting records and supporting documents by a professional, such as a Certified Public Accountant.
Who needs auditing in Nigeria?
Under the Companies and Allied Matter Act Cap LFN 2004, the financial statements of both public and private companies are subject to an annual audit. Only the accountants that are registered with the Institute of Chartered Accountants of Nigeria and Association of National Accountants of Nigeria may be appointed as auditors for the purpose of the annual audit.
