All reports of the audited account of the University of Ibadan (UI) would be submitted this year to the office of the Auditor General of the Federation (AGF), the Bursar of the Institution, Michael Alatise, has said.
Alatise said contrary to misrepresentation of his presentation when he appeared before the House of Representatives Committee on Public Accounts, the university has been auditing it’s account.
The Bursar assured that a new firm of Chartered Accountants, Oyedele Akinbode & Co has taken over the auditing of the UI accounts, and has done the accounts up to 2014.
He said the firm is working on the 2015 Accounts which should be ready in the next eight weeks.
“The process would be fast tracked as we are appointing a new Audit firm that will audit our accounts for years 2016, 2017 and 2018 in the first instance. The University Council and management have resolved to ensure that UI has no outstanding Audited accounts by the end of this year; all materials to give effect to this resolution are ready. All of these were mentioned to the House Committee on Public Accounts,” the Bursar said.
Alatise who decried the misleading information being peddled over what transpired at his appearance before the House of Representatives Committee sitting, said the former auditor whose contract had expired never wanted to leave a problem for his family and completed the job himself but had a health challenge after.
“The delay was explained to be due to a lack of handshake between M.O. Kehinde & co and Oyedele Akinbode & co. The delay lasted for over one and a half years before Oyedele Akinbode & co could complete their first Audit. M.O. Kehinde is not dead as claimed by some misleading reports and the firm was not being paid as erroneously published. If any payment is seen in our report in 2019 or 2018, it must have been paid to Oyedele Akinbode & co.”
“But now that Oyedele Akinbode & Co. has almost completed the auditing of the 2015 accounts, everything will take shape and we will submit all our outstanding reports this year,” Alatise said while urging the general public to disregard misleading information regarding his presentation at the House of Representatives.
“Last year, we placed adverts in the newspapers for the appointment of another firm that will takeover from Oyedele Akinbode & Co, the firm that is handling the auditing of our accounts presently.
“There were some reasons for the delay but we have all the materials that is helping the auditors to do their job. Every institution is to be audited by a firm for a period of five years maximum before another company can takeover. The firm that is retiring after five years must have smooth handshake with the new firm before the University send the report to the Office of the Auditor General of the Federation. All reports would be submitted this year. That is what I am assuring the members of the National Assembly,” Alatise added.