WELCOME ADDRESS

Internal Audit Unit is an Independent service under the Rectory. We are standard driven, motivated, confident and pay meticulous attention to details. We work accurately at pace with strong passion in helping the College Management achieve its Financial and commercial objectives.

VISION

Our Vision is to evaluate the College’s Internal controls, it’s corporate practices, processes and methods to help in securing compliance with the various Financial Regulations and Extant rules applicable to the College

MISSION

To provide an Independent and objective assurance designed to add value and improve the College’s operations. Also, to evaluate the effectiveness of risk management and control processes in the College.

HISTORY/CREATION

Internal Audit Unit was created in 1986 by Former Rector,Late Dr, P. A. Adegbile in accordance with the mandatory directive of the Auditor-General of the Federation. It was headed by Mrs. Eze, Vivian a Principal Internal Auditor and a supporting staff Mr. Sanni, R.A who was aSenior Internal Auditor.

It was a single Unit which was later expanded to include two (2) Audit Clerks, a Higher Executive Officer (Audit) and a Driver. The Unit was saddled with the core duties of market vetting and vouching (i.e checking of payment vouchers and salaries).

CHIEF AUDITOR’S OFFICE:

HEAD:  Chief Auditor

DUTIES

·      To direct and co-ordinate internal auditing in the College as an independent appraisal of the various operations and systems of control

·      To ensure that acceptable policies and procedures are followed

·      To ensure compliance with laws, instructions and directions

·      Checking of the adequacy of financial and accounting systems.

·      Checking the total operations of the College for economy, efficiency and effectiveness.

·      Ensuring effective internal control and diligent due process is followed.

·      Preparation of Audit Reports

 

EXPENDITURE AUDIT

UNIT STAFF 

DUTIES

·       Checking and ensuring that due process is followed in the preparation of Payment Vouchers.

·       Ensuring that PVs are numbered in serial sequence

·       Checking that amount involved is properly computed and approved

·       Checking PVs entries into the vote books

·       Checking of postings of PVs into various payment cashbooks

·       Participating in the mid and end of the year stock taking exercise.

·       Preparation of Expenditure Control Sections Report

 

REVENUE AUDIT

DUTIES

·       Regular checking of College Revenue (School fees and others) with Remita Inflow Report against the soft copy of the analysis.

·       Checking of the TSA Receipt Cashbook with Remita Inflow Report

·       Checking of the TSA Bank Reconciliation Statement with the Cashbook and Bank Statement

·       Checking of FGN Releases (Allocations) receipts against their Registers (Personnel, Overhead and Capital) and their postings into the Cashbook

·       Participating in the mid and end of the year stocktaking

·       Preparation of Revenue Returns.

 

AUDIT ADMINISTRATION AUDIT

 

DUTIES

Store

·      Ensuring that Stock Records are maintained in a proper manner and postings made up to date

·      Ensuring that stock ledgers are kept in addition to the Store Keeper’s bin cards

·      Checking and ensuring that tally cards balances agree with the ledger balances and actual stock

·      Checking of the upkeep of the Fixed Assets Register

·      Ensuring that due process is followed at the beginning and ending of disposal of Assets

Advances

·      Ensuring that all advances (Personal and Touring) advances granted to Officers are properly accounted for by maintaining adequate records for retirement

·      Participation in the mid and end of the year stocktaking

·      Preparation of Administrative Section’s Report

 

 SPECIAL AUDIT

DUTIES

·       Checking and Reporting on books of Accounts of Staff and Secondary Schools with respect to: Revenue, Expenditure, Advances, Salaries and Monthly Pension

·       Checking Consult and other Accounts under Special Accounts

·       Checking Consult’s Financial Statement

·       Participating in College’s mid and end of the year Stocktaking

·       Preparation of Sectional Report

 

LANDMARK ACHIEVEMENTS:

-       The Unit has since grown with a staff strength of sixteen (16) with five (5) departments under it.

-       Our Schedule of duties cover all the activities of both staff and students of the College.

-       We serve as Internal Auditor to the Staff School and Secondary School.