BIPC Set To Be Audited

PKF Professional Services, a Tier-one auditing firm, arrived at Benue Investment and Property Company Limited (BIPC) this week for the final phase of its audit exercise.

Upon the assumption of Dr. Raymond Asemakaha- CFA the then newly appointed MD/ CEO of BIPC had in December 2023 secured approval of His Excellency Rev. Fr. Dr. Hyacinth Iormem Alia to engage the PKF to conduct a comprehensive forensic audit of the company’s activities from 2021-2023.

This action according to the MD was necessary and mandatory for the restructuring of the organization into a profitable venture.

Dr. Raymond Asemakaha-CFA, MD/CEO of BIPC, while receiving the delegation emphasized the significance of the audit recommendations in driving the company’s revitalization efforts.

Asemakaha explained that the audit encompasses a meticulous review of all financial records, property evaluations, physical verification, and strategic planning for future operations, including the implementation of geofencing technology on all BIPC properties.

The MD added that the auditors have been working on other critical segments of the audit process since December and were in the company to conclude their exercise.

He ordered that in compliance with the auditor’s demands, some staff of the company in the Internal Audit and Control; Finance and Accounts; Real Estate and Infrastructure, and Security departments immediately proceed on leave to enable the auditors have a seamless exercise.

The leader of the delegation, Mr. Odunuga Tola, and his team requested a comprehensive list of properties of the company with their locations, Certificate of Occupancy, the company’s CAC, valuation, and fixed asset reports and Risk Register of the company for the forensic Audit

They also requested all payment voucher for validation and all expenses retirement receipts and documents for verification and confirmation covering the period under review and sued for support from company staff to have a hitch-free audit exercise.