Tunji Labode & Co.
Certified National Accountants

Practice Areas

AUDIT SERVICES


Normally, the scope of our audit services is determined by the statute under which we are appionted. The objective being to issued a report that meets the requirements of the particular statute regulating the mode of operations of the concern or business entity, which we are auditing. In addition, we use a system based audit approach. This approach involves documentaion and evalution of the accounting system, procedures and control, thereby forming an idea basis for advice to management as to the adequacy of their operations.
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If in the process of an audit, we become aware of any weakness in the organization's system of internal check and control, we would formally communicate such weakness to the governing board of the entity or corporation making recommendations and suggestions for their rectification and elimination. The above duties are carried with utmost sense of responsibilities in overall public interests.
Letters to Management on completion of an audit may typically draw attention to the following matters:-

  • Weakness and inadequacy in systems or procedures
  • Instances of non-compliance with established control procedures
  • Problems in the efficient and timely preparation of accounting records and management accounts and reports.
  • Instance of non-conformity with internationally accepted accounting principles standards.
  • Potential Taxation and statutory obligation.

In any case, our comments are accompanied by constructive recommendations for improvement as both comments and recommendations are discussed fully with management as to factual accuracy, practicability and cost effectiveness.

INCOME AND TAX MATTERS

We provide Tax advisory and consultancy services to clients. In particular, we:

  • Prepare tax computations based on audited Financial Statements for submission to Federal Inland Revenue Service or State Internal Revenue Service.
  • Attend to queries on the Tax Computations submitted and subsequently agree the tax liabilities applicable.
  • Obtain tax clearance certificates after settlement of the agreed liabilities.
  • Advise on Taxation implication of contracts, trade agreements with non-resident companies e.t.c.

ACCOUNTING SERVICES


We provide Accounting services on a temporary basis where, as indicated in earlier paragraphs, our recommendations and suggestions for improvement in Accounting process make for the provision of such ancilary services inevitable. Where a client's Accounting has fallen into arrears due to shortage of staff, resignation and other factors, we can provide Accounting services if requested to do so on ad-hoc basis.