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PricewaterhouseCoopers, the audit firm that conducted the forensic audit of the Nigerian National Petroleum Corporation, NNPC has disclosed that their audit report may not be be reliable.
The much anticipated report of the forensic audit of the Nigerian National Petroleum Corporation, NNPC, operations on the missing $20 billion oil money may not amount to much after all, with PricewaterhouseCoopers, the audit firm that conducted the probe, saying it cannot vouch for the integrity of its findings.
In a startling introductory letter addressed to Nigeria’s Auditor General, the audit firm said findings in its 199-page report were limited to available information and did not constitute a review in accordance with generally accepted standards.
“The procedures we performed did not constitute an examination or a review in accordance with generally accepted auditing standards or attestation standards,” the firm said.
“Accordingly, we provide no opinion, attestation or other form of assurance with respect to our work or the information upon which our work was based,” it added.
The report and all accompanying deliverables, the company pointed out, were “solely for the Office of the Auditor-General for the Federation, for their internal use and benefit and not intended to, nor may they be relied upon, by any other third party.
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SOURCE: #PremiumTimes
#NNPC
The much anticipated report of the forensic audit of the Nigerian National Petroleum Corporation, NNPC, operations on the missing $20 billion oil money may not amount to much after all, with PricewaterhouseCoopers, the audit firm that conducted the probe, saying it cannot vouch for the integrity of its findings.
In a startling introductory letter addressed to Nigeria’s Auditor General, the audit firm said findings in its 199-page report were limited to available information and did not constitute a review in accordance with generally accepted standards.
“The procedures we performed did not constitute an examination or a review in accordance with generally accepted auditing standards or attestation standards,” the firm said.
“Accordingly, we provide no opinion, attestation or other form of assurance with respect to our work or the information upon which our work was based,” it added.
The report and all accompanying deliverables, the company pointed out, were “solely for the Office of the Auditor-General for the Federation, for their internal use and benefit and not intended to, nor may they be relied upon, by any other third party.
Click here to read more
SOURCE: #PremiumTimes
#NNPC