Northern Nigerian Breaking News

Annual Financial Audit: YETFund calls for certified audit firms to apply for bid

By Muhammad Bashir

The Yobe State Education Trust Fund (YETFund), has called on certified Nigerian audit firms for their proposal to participate in bidding process for the Annual Financial Audit of its finances for the year ending 31st December 2022.

The Secretary, YETFund Board of Directors, Prof. Mamman Lawan Yusufari, SAN made the call in a statement to announce the bid opening, on Monday.

Yusufari said the purpose of the audit is to ensure that YETFund’s financial statements are accurate and compliant with the relevant laws and regulations.

According to him, “The YETFund is pleased to announce that it is scheduled to receive and open proposals for the audit of its finances  for the year ending 31st December 2022, in compliance with extant companies laws and regulations of Nigeria. The purpose of the audit is to ensure that YETFund’s financial statements are accurate and compliant with the relevant laws and regulations.

elsamad new

“The Yobe State Education Trust Fund (YETFund), is a company limited by guarantee, registered under the Companies and Allied Matters Act (CAMA), 2020, Laws of the Federation of Nigeria, as an intervention entity to support the Government of Yobe State in the revitalisation and development of basic and secondary education. Part of the mandate of YETFund is to invest and manage funds realised at the Education Appeal Fundraiser held by the Government of Yobe State in February, 2022 and from other donations and partnerships; and to direct the proceeds of its investment to critical areas of needs of the education sector in the insurgency ravaged State.

Read Also: Tetfund allocates N30bn for high impact projects in 18 tertiary institutions

“Earlier, YETFund LTD/GTE, being a small, non-profit company, had issued invitations for proposals to four certified Nigerian audit firms to submit proposals for their participation in the bidding process, which will take place at 1200 hours noon, on the 3rd of May, 2023 at YETFund’s head office, at Suite 5.01, 5th floor, Yobe Investment House, Abuja. After the bidding, the Board of Directors of YETfund will select the most suitable firm and issue it with formal instructions, based on its approved terms of reference, to carry out the audit for the year ending December 31, 2022. The successful audit firm will be expected to carry out the audit according to international best practice and submit a report accordingly.

“The final audit report  will be filed as return to the Corporate Affairs Commission (CAC) as required by law, the Yobe State Government and would subsequently be posted on YETFund’s website at www.yetfund.org for access by the general public,” Prof. Yusufari, however stated.

Comments are closed.