The Auditor-General of the Federation is set to conduct revenue assurance and Information Technology audit on the Federal Inland Revenue Service and the Nigerian Customs Service.
A statement issued by the Auditor-General of the Federation, Anthony Ayine, said the audit is part of the Fiscal Governance and Institutions Project, a collaborative programme of the Federal Government and the World Bank and had met the managements of the FIRS and NCS over the project.
The statement said the AuGF visited the Executive Chairman of the FIRS, Babatunde Fowler, and the Comptroller General of the NCS, Hameed Ali, on Thursday in separate meetings, asked the FIRS and NCS to grant his office free access to personnel, documents, databases and IT applications for the purpose of the assignment.
Ayine, according to the statement, stressed that the audit was aimed at improving the revenue of government so as to reduce the heavy burden of borrowing on the country. strengthening revenue collection management and accounting processes, as well as transparency and accountability in the use of public funds.
During the meeting with the AuGF team, Fowler sought assistance for the FIRS to ensure that deducted VAT and Withholding Tax are remitted to government on a monthly basis.
On his part, Ali sought the AuGF’s support in the area of capacity building
The Office of the Auditor-General of the Federation is among five government institutions tasked with implementing the Fiscal Governance and Institutions Project, which was approved by the World Bank Board on June 27, 2018.
The others are the Federal Ministry of Finance, the Federal Ministry of Budget and National Planning, the National Bureau of Statistics and the Bureau of Public Procurement.
The project has four key components: strengthening revenue management; strengthening controls; transparency and accountability in the use of public funds; and strengthening economic and fiscal statistics and implementation support.