In line with the provision of Section 85(3)(a) of the Constitution of the Federal Republic of Nigeria, 1999, and the relevant sections of the enabling Acts of various Parastatals, Statutory Corporations, Commissions and Agencies, the following guidelines must be followed in the appointment of Auditors to audit the accounts of Federal Government Parastatals, Agencies and Commissions.

A) Registration

The audit firm to be appointed must have been registered or renewed its registration with the Office of the Auditor-General for the Federation (OAuGF) up to the year for which appointment or renewal of appointment is being sought, as evidenced by the list of accredited firms published/issued by the Office of the Auditor-General for the Federation.

B) Tenure of the Auditor

The tenure of the Appointed Audit Firm should be one year in the first instance, renewable annually subject to satisfactory performance for 3 years and on no account should annual renewal extend the total tenure of the appointed firm or firms beyond 5 years. This is to ensure that the independence of the auditor is not placed in jeopardy.

C) Fees

Quotations based on the scale of fees issued by the Institute of Chartered Accountant of Nigeria (ICAN) should be obtained from at least three audit firms from the list of accredited firms issued by the OAuGF in determining the fee to be paid as part of the final selection process. The fee so agreed upon or re-negotiated should together with the comparative figure, be forwarded to OAuGF for clearance.

D) Personnel NOT qualified to be appointed as Auditors

The following persons cannot be appointed as auditors of Federal Government Parastatals, Agencies and Commissions

An Officer or servant of the Parastatal, Agency or commission
A person who is a partner of or in the employment of an officer or servant of the Parastatals, Agency or Commission
A person who is an auditor of a company where a principal officer or servant of the Parastatal is a Director
A person having personal relationship with an officer or servant of the Parastatal, Agency or Commission. Personal relationship for this purpose include mutual business interests, close friendship and relationship by blood or marriage
A person who is a contractor to the Parastatal, Agency or Commission or a relation or nominee of a contractor of the Parastatal, Agency or commission

E) Fees payable by Audit Firm to register/renew and be listed for consideration for MDAs audit jobs:

Registration fee : N50,000.00
Annual renewal fee: N20,000.00

Please note that payment/s made are NOT refundable.

F) Documents required to be presented before an Audit Firm is registered (scanned copies are admissible). Please note that all documents will be verified.

Registration of firm with Corporate Affairs Commission
Practicing License (Certificate)
Professional Certificate (ICAN or ANAN)
Tax Clearance Certificate of the firm
Firm’s seal/stamp

G) Important Notice

Please note that renewal after registration is required on a yearly basis. Registration/Renewal can be done online @ www.afrrep.oaugf.ng and you do NOT need to present yourself physically at the Office of the Auditor-General for the Federation. Also note that electronic receipt received after payment serves as FGN receipt.