TECHNICAL PROPOSAL FOR APPOINTMENT

AS EXTERNAL AUDITORS & TAX

CONSULTANTS

TO

PREMIERE URGENCE
INTERNATIONALE

SUBMITTED BY:
 BBC PROFESSIONALS
[CHARTERED ACCOUNTANTS]

PREMIERE URGENCE
INTERNATIONALE

TECHNICAL PROPOSAL FOR

APPOINTMENT AS
EXTERNAL AUDITORS

CONTENTS PAGE

1.0 Brief introduction of our firm 2

2.0 Our Offices and Contact Information 12

3.0 Experiences and similar assignments 13

4.0 Our understanding of the assignment 18

5.0 Brief Methodology proposed for

performing the audit assignment 19

6.0 Resume of Key Personnel of BBC Professionals 26

7.0 Professional Fee 31

8.0 Documents attached 32

Technical Proposal for Appointment as External Auditors to PUI – By BBC PROFESSIONALS Page 1
 1.0 BRIEF INTRODUCTION OF OUR FIRM
1.1 ESTABLISHMENT
BBC PROFESSIONALS (Formerly Balogun Badejo & Co) was established on 1 April,
1969 and it is one of the largest indigenous practicing accounting firms in Nigeria offering
to clients; professional auditing, accounting, tax, insolvency, consultancy,
financial and management advisory services, amongst others.
The firm had continued to render excellent audit & assurance/accounting services to her
numerous clients and the nation at large for over 51 years. During these years of existence,
the firm has had the privilege of having two Partners as Past Presidents of The Institute of
Chartered Accountants of Nigeria (ICAN). These are Sir John A Balogun, KSC and
Chief Adeboye O Badejo in 1980/81 and 1999/2000 respectively.

We also make bold to say that one of our own that trained and qualified in BBC Professionals,
Mr. Chidi Ajaegbu was the Golden Jubilee President of the Institute, a rare privilege
that we cherish and which adds credence to our corporate existence.
Furthermore, two of our Partners were one time Finance Commissioners in person of Dr G A
Kukoyi and Chief D O Alasoadura. Presently, one of our Former Managing Partners –
Chief D O Alasoadura is an Honorable Minister of State for Niger Delta in the Federal
Republic of Nigeria.

1.2 CHANGE OF NAME

In order to reposition the firm for better services to her prospective and numerous customers
and further improve our brand name, the firm changed her name in October 2012 (though
the certificate was received in 2013) from Balogun Badejo & Co to BBC PROFESSIONALS. As
a result of the change, note that some of the documents that were included in this proposal
had the old name.

1.3 INTERNATIONAL UNION

We are a member of PrimeGlobal, a worldwide Union of independent accounting firms.
PrimeGlobal is one of the top five largest Unions of independent accounting firms in the
world; as of June 2017, the Union was comprised of approximately 300 highly successful
independent public accounting firms in 80 countries. PrimeGlobal provides its
independent member firms with tools and resources to help them furnish superior
accounting, auditing, tax and management services to clients around the globe.
Through PrimeGlobal, independent member firms offer the strength and capabilities of
a large, worldwide organization with technical depth and geographic reach impossible
for a local firm alone.
For details about PrimeGlobal, and the services it offers its independent member firms, visit
the PrimeGlobal website at www.primeglobal.net.

Technical Proposal for Appointment as External Auditors to PUI – By BBC PROFESSIONALS Page 2
 The PrimeGlobal Headquarters is located at:
3235 Satellite Boulevard, Building 400, Suite 300
Duluth, GA 30096, U S A

1.4 MISSION
Our mission is to excel in our special areas of proficiency: accounting, auditing,
taxation, management advisory services, insolvency, etc and place at the disposal of
our clients the highly technical skills peculiar to the very professional accountant.

1.5 TEAM SPIRIT

In line with our mission, we work as a team to bring about the needed solutions and high
quality delivery to our numerous clients. We believe in Team Spirit and that we have
exhibited in all our previous assignments and shall equally bring to bear in future projects.

In BBC, we believe that no one knows it all. Consequently, we brainstorm to proffer solutions
when the need arises.

BBC Partners at a Brainstorming session

1.6 COMMITMENT
Our firm is committed to:
 excellent quality and timely delivery of our service.
 conscientious maintenance and improvement of our place in the profession.
 contribution to the development of our community and profession in manpower
development, technical expertise, meaningful and stable employment in a healthy
environment whilst simultaneously discharging our social responsibilities.

Technical Proposal for Appointment as External Auditors to PUI – By BBC PROFESSIONALS Page 3
  dissemination of technical information towards regular communication to our
staff, clients and the public.

1.7 REGISTRATION WITH RELEVANT AUTHORITIES

Our firm is registered with the following authorities amongst others:
 The Institute of Chartered Accountants of Nigeria (ICAN)
 Public Practice Section of ICAN (PPS)
 Corporate Affairs Commission (CAC)
 Securities & Exchange Commission (SEC)
 Office of the Auditor-General of the Federation (AGF)
 Office of the Accountant-General of the Federation (AGF)
 Some Offices of the Auditor-General of the States
 Chartered Institute of Taxation of Nigeria (CITN)
 Bureau of Public Enterprises (BPE)
 PrimeGlobal, a worldwide Union of independent accounting firms
 Financial Reporting Council Of Nigeria (FRCN) - Partners

1.8 AVAILABILITY OF APPROPRIATE SKILLS

We have adequate manpower that can handle any assignment in the following categories:

Technical Proposal for Appointment as External Auditors to PUI – By BBC PROFESSIONALS Page 4
1.9 KEY DRIVERS OF OUR PRACTICE
PARTNERS OF BBC PROFESSIONALS (Chartered Accountants)

22 33

11

Technical Proposal for Appointment as External Auditors to PUI – By BBC PROFESSIONALS Page 5
 44 55

1. J O Obogwu - Managing Partner

2. E U Itodo - Deputy Managing Partner
3. A M Adetuyi - Partner
4. G C Egwuenu (Mrs.) - Partner
5. O O Agbeje - Partner

1.9 KEY DRIVERS OF OUR PRACTICE (cont’d)

BBC PROFESSIONALS (Chartered Accountants) (Formerly Balogun Badejo &
Co) is well known for Efficiency, Integrity and Professionalism when it comes to the
practice and dealing with our clients. We take pride in the competence and experience of the
partners who drive the firm. We present a brief profile of our Partners.

(1)

Technical Proposal for Appointment as External Auditors to PUI – By BBC PROFESSIONALS Page 6
 JAMES O. OBOGWU
Chairman/Managing Partner

He attended St Paul’s Grammar School, Ebu and University of Benin, Benin City, where he
bagged a Master in Business Administration (MBA). Employed as a Trainee and rose
through the ranks to become a Partner on 1 April 2005. JOO became the firm’s Managing
Partner on 1 April, 2013.
Mr. Obogwu is a Fellow of both the Institute of Chartered Accountants of Nigeria and the
Chartered Institute of Taxation of Nigeria.

JOO as he is fondly called was the firm’s Deputy Managing Partner up to 31 March, 2013. He
is the Editor-In-Chief of our in-house journal, TICK Magazine.
He is currently:

- A Practice Monitoring Reviewer of the Institute of Chartered Accountants of Nigeria

(ICAN)
- IFRS Paper Presenter.
- A member of Practice Monitoring Committee of the Chartered Institute of Taxation of
Nigeria (CITN)
- A member of Taxation Standard Board of the Chartered Institute of Taxation of Nigeria
(CITN)
- Chairman of the Editorial Committee of the Taxation Standard Board of the Chartered
Institute of Taxation of Nigeria (CITN).
- A member of Public Practice Monitoring Committee of the Institute of Chartered
Accountants of Nigeria.
1.9 KEY DRIVERS OF OUR PRACTICE (cont’d)

(2)

Technical Proposal for Appointment as External Auditors to PUI – By BBC PROFESSIONALS Page 7
 EVERESTUS U. ITODO
Deputy Managing Partner
Everest, as he is popularly called by friends hails from Amalla in Udenu LGA of Enugu state
of Nigeria. He attended Ifruoka Primary School Amalla–Udenu LGA in Enugu State,
Government Day Secondary School Kakuri, Kaduna and St. Theresas’ College, Nsukka.

He obtained B.Sc. in Applied Accounting from Oxford Brookes University, UK and Master of
Science in Management (M.Sc. Management) from University of Lagos, Akoka, Nigeria.

EUI is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), the Association
of Chartered Certified Accountants (ACCA), UK and the Chartered Institute of Taxation of
Nigeria (CITN).

Before joining the firm in January 2006, he had worked with Mu’Allahyidi & Co, (Chartered
Accountants), Supertex Limited, and Union Adhesive & Chemical Company Limited, all in
Kaduna. He rose to the position of Audit Manager in the firm on 1 April, 2008, was admitted
a Partner on the 40th Anniversary of the firm on 1 April, 2009 and became the firm’s Deputy
Managing Partner on 1 April, 2013.

He is currently:
 The Finance Partner of the Firm;
 Chairman of the Firm’s Technical, Research and Training Committee; and
 A Practice Monitoring Reviewer of the Institute of Chartered Accountants of Nigeria
(ICAN).
 A member of forum of firms Committee of the Institute of Chartered Accountants of
Nigeria.

1.9 KEY DRIVERS OF OUR PRACTICE (cont’d)

(3)

Technical Proposal for Appointment as External Auditors to PUI – By BBC PROFESSIONALS Page 8
 AYODELE M. ADETUYI
Partner

Mr. Adetuyi attended Egan High School Ojo, Lagos and Olabisi Onabanjo University, Ago
Iwoye, Ogun State.

AMA obtained Master in Business Administration (MBA, Finance) from University of Lagos,
Akoka, Nigeria and Master of Accounting & Finance (M.sc) from University of Liverpool, Liverpool,
UK.

He is a member of The Institute of Chartered Accountants of Nigeria (ICAN) and The

Chartered Institute of Taxation of Nigeria (CITN).

Before joining BBc in 2006, he had worked with A A Consultants; Royal Value International
Limited and Oladeji Olagunju & Co (Chartered Accountants), where he rose to the position of
an Audit Manager.

Mr. Adetuyi also has the passion of impacting knowledge, and currently serves as Director of
Studies at Foresight Professional Institute, Lagos, an ICAN Study Centre. He is a member of
Ikoyi Club.

AMA who was admitted a Partner on 1 October, 2010 is currently the Tax Partner, IFRS
Paper Presenter and Chairman of the firm’s International Financial Reporting Standard
(IFRS) implementation Team.

1.9 KEY DRIVERS OF OUR PRACTICE (cont’d)

(4)

Technical Proposal for Appointment as External Auditors to PUI – By BBC PROFESSIONALS Page 9
 GLORIA C. EGWUENU (Mrs)
Partner

Mrs. Egwuenu attended Ibru College Agbarha Otor, Delta State and Edo State University,
Ekpoma, Edo State, where she studied Accountancy. Also, she studied at University of Lagos,
Akoka where she obtained Master of Science in Management (M.Sc. Management).

Mrs. Egwuenu is a member of the Institute of Chartered Accountants of Nigeria (ICAN) and
The Chartered Institute of Taxation of Nigeria (CITN). She is an IFRS Paper Presenter and
the Vice Chairman of the firm’s IFRS implementation team.

She had worked with Omega Bank Plc (now Enterprise Bank Limited), Shonubi Abah & CO
(Chartered Accountants) and Bytex Nigeria Limited before joining Balogun Badejo & Co.

GCE as she is popularly called became a partner in the firm on 1 April, 2011 and she is
currently the Administrative Partner.

1.9 KEY DRIVERS OF OUR PRACTICE (cont’d)

(5)

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 OLANIYI O. AGBEJE
Partner

Olaniyi Agbeje hails from Ayedun Ekiti in Ikole Local Government area of Ekiti State. He
attended Army Children Primary School, Kakuri, Kaduna State and Comprehensive High
School, Ayedun-Ekiti, Ekiti State. He graduated from Ondo State Polytechnic (now Rufus
Giwa Polytechnic) Owo, Ondo State.

He is a member of the Institute of Chartered Accountants of Nigeria with over 13 years

experience in Financial Advisory Services.

He started his career as an Accounts Officer with Modecom Solution Limited – A telecoms
dealer before moving to Temidayo Adebayo & Co, a firm of Chartered Accountants as
Graduate Training where he rose to the rank of an Audit Manager. He later joined BBC
Professionals (formerly Balogun Badejo & Co.) in February, 2010 in pursuant of his
professional career.

He is well grounded in audit and assurance, financial modeling and analysis, Reporting
Accounting, etc.

He is married with children.

1.10 PARTNERS AND SENIOR TECHNICAL STAFF

1.10.1 Partners: {full time - 5}

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 NAME QUALIFICATIONS EXPERIENCE

1. J O Obogwu MBA, FCA, FCTI 33 years

2. E U Itodo B.Sc., M.Sc., FCCA, FCA, FCTI 27 years

3. A M Adetuyi B.Sc., MBA, M.Sc., FCA, FCTI 22 years

4. G C Egwuenu (Mrs.) B.Sc., M.Sc., ACTI, FCA, CFAN 22 years

5. O O Agbeje HND, FCA 17 years

Senior Technical staff:

6. C M Uche-Ugwu (Mrs.) B.Sc., ACA 9 years

7. C I Onah HND, PGD, ACA 12 years

8. I E Iwuchukwu AAT, ACA 18 years

9. Wale Sunmola B.Sc., ACA 8 years

10. F O Adeboye B.Sc., ANIMN, ACA 12 years

11. Sulieman Asiegame B.Sc., ACA 3 years

12. C. M. Atte HND, ACA 8 years

13. V O Opajobi (Miss) B.Ed., ACS 18 years

14. O F Moyegun B. Agric, PDCA 19 years

Consultants: [Part time]

1. P. O. Oluwi FCCA, FCA, FCTI, 42 years
2. Dr. J O Asaolu FCA, FCTI, MNIM, Ph.D. 41 years
3. M O Oladotun FCCA, FCA, FCTI, FCIPM, FWAIMC 41 years
4. F C Obi FCA, ACTI 36 years

QUALIFYING SENIORS AND TRAINEES

At varying degrees of qualification and experience – over 40 in number.
2.0 OUR OFFICES AND CONTACT INFORMATION

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2.1 OFFICES IN NIGERIA
Our firm has offices in the following locations in Nigeria:
Abuja

LAGOS - Headquarters

2.2 OUR CONTACT OFFICES AND OFFICERS

Headquarters - Lagos
Charter House
7 McNeil Road
Sabo, Yaba
Lagos
G P O Box 3260, Lagos
Tel: +234 (0) 8112731722
Website: www.bbccharter.com
Email: bbccharter@yahoo.com and bbc@bbccharter.com
Headquarters contact officers:
Name Designation GSM Email
J O Obogwu Managing Partner 08023139061 obogwu@bbccharter.com
joobogwu@yahoo.com
E U Itodo Deputy Managing Partner 08036165079 euitodo@bbccharter.com
euitodo@yahoo.com
Abuja office
Suit 24 Dee Awwal Plaza
2nd Floor, Plot 2044, Michael Okpara Street
P O Box 8601
Wuse, Zone 5, Abuja

Abuja office contact officers:

Name Designation GSM Email
M O Okpe Branch Head 08163434087 mokpe86@yahoo.com

3.0 EXPERIENCES AND SIMILAR ASSIGNMENTS

We have relevant cognate experience and a strong record of value-added service to our
esteemed clients which we have been doing for over five (5) decades of our existence.

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3.1 SIMILAR ASSIGNMENTS
Some of the Audit & Assurance Work that we carried out or currently engaged in which
are similar to the proposed assignment are as stated below:
GOVERNMENT/NGOs
 National Malaria Elimination Programme – Global Fund Principal Recipient
 German Leprosy and TB Relief Association Enugu, TBReach Project
 United Nations Development Program (UNDP) – Various Projects
 ECOWAS Disaster Risk Project (Financed by WorldBank)
 United Nations Children Education Fund (UNICEF) – Implementing Partners
 German Leprosy and TB Relief Association Enugu, RedAid.DAHW Project
 Africare Nigeria
 United Nations Population Fund (UNFPA) – Implementing Partners/Projects
 World Bank Assisted Projects - Loan 2620 - UNI – Lagos State
 Institute of Human Virology Nigeria (IHVN)
 NACA Federal Government of Nigeria
 Association for Reproductive and Family Health, (ARFH)
 National Agency on the Control of AIDS (NACA) Global Fund 2011
 Sustainable Health Initiative (SHI)
 South South Healthcare Delivery Programme – G.77
 AIESEC Nigeria
 Centre for Management Development (CMD)
 Forestry Research Institute of Nigeria, Ibadan (FRIN)
 Cocoa Research Institute of Nigeria, Ibadan (CRIN)
 National Cereals Research Institute (NCRI)
 National Horticultural Research Institute (NHRI)
 Nigeria Social Insurance Trust Fund (NSITF)
 World Bank Assisted Projects - Loan IBRD 2760 - UNI - Ogun State
 SMEDAN Industrial Cluster Devpt Area Project (Financed by AfDB)
QUOTED AND PUBLIC INTEREST ENTITIES
 Equity Assurance Plc
 IPWA Plc
 Honeywell Flour Mills Plc
 Pipelines and Products Marketing Company Limited (PPMC)

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  Thomas Wyatt Nigeria Plc
 National Malaria Elimination Programme (NMEP)
 Nigeria Petroleum Development Company Limited (NPDC)

UNIVERSITIES
 Obafemi Awolowo University (OAU)
 Lagos State University (LASU)
 Caleb University
 University of Agriculture, Abeokuta (UNAAB)
 Olabisi Onabanjo University, Ago-Iwoye, Ogun State (OOU)
 Ambrose Alli University, Edo State (AAU)
 Redeemer’s University (RUN)

STOCK-BROKING/CAPITAL INVESTMENT COMPANIES

 Greenwich Trust Limited
 Dominion Trust Limited
 Calyx Securities Limited
 Union Capital Markets Limited
 Financial Trust Company Limited
 Dominion Finance Limited
 Greenwich Asset Management Limited
 TransAfrica Financial Services Limited
 Resort Trust and Securities Limited
 Mission Securities Limited
 Mutual Alliance and Securities Limited
 Union Stockbrokers Limited
 Lead Capital Limited
 Deap Capital Trust and Management Limited
 Resort Savings & Loans Plc
 Afribank Capital Limited
 Greenwich Securities Limited
 Sterling Capital Limited
 Kedari Capital Limited

CO-OPERATIVE/UNIONS
 Nigeria Social Insurance Trust Fund
 Bowen Microfinance Limited
 Oke-Ado (Ibadan) Amigo’s 92 Cooperative Investment and Credit

Technical Proposal for Appointment as External Auditors to PUI – By BBC PROFESSIONALS Page 15
 Society Limited
 NITEL Staff Pensions Union
 Metro Mortgages Limited

INSTITUTES
 The West African Examinations Council (WAEC)
 Institute of Chartered Accountants of Nigeria (ICAN)
 The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN)
 Nigerian Institute of Estate Surveyors and Valuers (NIESV)
 Nigerian Institute of Architects (NIA)

REGULATORY BODIES
 Architect Registration Council of Nigeria (ARCON)
 National Broadcasting Commission (NBC)
 Centre for Management Development (CMD)
 Securities and Exchange Commission (SEC)
 Nigerian Stock Exchange (NSE)

Consequently, we have no doubt that having been engaged in conducting similar assignments
for many organizations in the past, we shall be able to handle this assignment, if given the
opportunity.

We have been involved in servicing organizations/companies in the Manufacturing and

Trading Industry, Banks and Financial Institutions, Hospitality and Health,
Government Organizations, News, Publicity and Newspapers, Insurance,
Professional, Honorary, Receiverships, Liquidations amongst others.

3.2 INTERNATIONAL FINANCIAL REPORTING STANDARD (IFRS)

Even though IFRS took off effectively in Nigeria from 2012 in line with the Roadmap, we
have acquired skills and exposures prior to the effective date knowing full well our client base
which cuts across virtually every sector of the economy. Our joint assignments with our

Technical Proposal for Appointment as External Auditors to PUI – By BBC PROFESSIONALS Page 16
 Global Partners really added value to BBC Professionals coupled with Foreign Trainings
attended by our representatives.
We have been privileged to render various services in IFRS viz: Public Trainings; Financial
Statements Reviews; Conversions and full Implementations amongst others. Some of the
clients’ serviced by our Firm on IFRS related assignments are listed below:

 Equity Assurance Plc

 Honeywell Flour Mills Plc
 IPWA Plc
 Man Mountain & Company Limited
 Obafemi Awolowo University (OAU), Ile – Ife
 Greenwich Trust Limited
 Academy Press Buz Forms Ltd
 Bells University, Otta
 Thomas Wyatt Nigeria Plc
 Grange Schools
 Coates Brothers Limited
 Eldorado Construction Co. Limited

Some BBC Partners in a group photograph with our Foreign Partner after an IFRS
Training organized by the Firm in Collaboration with LDP (South Africa) – a member of
PrimeGlobal at Lagos Airport Hotel, Ikeja – Lagos.

3.3 OTHER ASSIGNMENTS - GENERAL

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Some Other assignments carried out by the firm in recent past are
listed below:

AUDIT AND ASSURANCE SERVICES INTERNATIONAL FINANCIAL REPORTING

STANDARD (IFRS)
 United Nations Development Programme (UNDP) –  Equity Assurance Plc
Various audit engagements
 Honeywell Flour Mills Plc
 Equity Assurance Plc
 IPWA Plc
 Thomas Wyatt (Nigeria) Plc
 Man Mountain & Company Limited
 Honeywell Flour Mills Plc
 Obafemi Awolowo University (OAU), Ile – Ife
 IPWA Plc
 Greenwich Trust Limited
 Pipelines & Products Marketing Company Limited
 Academy Press Buz Forms Ltd
(PPMC)
 Bells University, Otta
 NEM Insurance Plc
 Thomas Wyatt Nigeria Plc
 Bowen Micro Finance Bank
 Grange Schools
 Grange Schools
 Coates Brothers Limited
 Man Mountain & Company Limited
 Eldorado Construction Co. Limited
 Greenwich Trust Limited
 Several Public Training Courses and general Advisory.

 Mission Securities Limited

RECEIVERSHIP, LIQUIDATIONS AND
 Honeywell Superfine Foods Limited DUE DILIGENCE
 AIICO Insurance Plc
 Calyx Trust Limited  Afolabi Dimehin & Sons Limited
 Nfi Insurance Plc
 Resort Securities & Trust Ltd
 Johnnic Communications (WA) Limited
 Tax Appeal Tribunal
 NITEL/MTEL
 Falcon Petroleum Limited
 Spectrum Books Limited
 Electronic Payplus Limited
 Credite Bank Nigeria Limited (Closing Activities)
 Allport Cargo (W.A) Limited  Kainji Textiles Limited
 Coates Brothers (WA) Limited  Mercantile Press Limited
 Metal Furniture Nigeria Limited  Oluyori Bottling Ind. {Nigeria} Limited
 Metec (W.A.) Nigeria Limited  Penguin Dairies Limited
 NACA Global Council  Max & Kelly Nigeria Limited
 Nigerian Foundries Limited  Unit Six Agric Industry Limited
 Metro-Urban Homes Limited TAXATION SERVICES
 Federal Radio Corporation of Nigeria (FRCN)  Pipelines & Products Marketing Company Limited (PPMC)
 National Broadcasting Commission (NBC)  NEM Insurance Plc
 News Agency of Nigeria (NAN)
 Bowen Micro Finance Bank
 Nigerian Television Authority (NTA)
 OAS Helicopters
 Prime Publications Limited
 Electronic Payplus Limited
 The Daily Times of Nigeria Plc - NSE Quoted  Allport Cargo (W.A) Limited
 Life Press Limited  Coates Brothers (WA) Limited
 Metal Furniture Nigeria Limited

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  United Nations Population Council (UNFPA)  Metec (W.A.) Nigeria Limited
 Nigeria Social Insurance Trust Council (NSITF)  Nigerian Foundries Limited
 Enertek Bendix Limited
 Several others

4.0 OUR UNDERSTANDING OF THE ASSIGNMENT

4.1 Introduction
Premiere Urgence Internationale (PUI) – a ‘Not for profit Organization’ and working in
partnership with foreign Fund Donor NGO, is considering appointing a reputable firm as
Statutory Auditors and Tax consultants.

4.2 Need for audit of financial statements

The need for stewardship, accountability, compliance with the statutory provisions and good
corporate governance of any organization has made the audit of its financial statements very
necessary. Hence the statutory audit has become a credible process by which professional
accountants look at what has transpired in an organization within a specified period and
issue an audit opinion as to the true and fair view of the entity’s financial statements.

There is also the need for the audit exercises to be conducted timely within an agreed period
and/or at regular intervals or else, it will not be useful in serving the intended purpose. In
doing this, the confidence of the stakeholders in the programmes and projects will be greatly
enhanced.

In line with the above, our firm – BBC PROFESSIONALS [Chartered Accountants] hereby
forward its application to be considered for appointment as external auditors and tax
consultants to your Organization – Premiere Urgence Internationale (PUI). Having been in
existence for over fifty-one (51) years in rendering similar services to numerous clients, we
want to be part of the Organization’s Project of Transformation, Transparency and
Accountability.

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 5.0 BRIEF METHODOLOGY PROPOSED FOR PERFORMING THE AUDIT ASSIGNMENT

5.1 SUMMARY OF STAGES:

In summary, our job when appointed as external auditors to Premiere Urgence
Internationale (PUI) is as illustrated below:
Meeting
Meeting with
with Officials/
Officials/ and
and exchange
exchange of
of
Engagement activities correspondences
correspondences
Signing of Contract Agreement Pre-audit
Pre-audit Briefing/Meeting
Briefing/Meeting
Issuing our Audit Planning Obtaining
Obtaining details
details of
of Contact
Contact persons
persons and
and
Memorandum documents
documents from
from the
the Client’s
Client’s Contact
Contact person
person
Before date of
commencement

Engagement Planning and briefing of Project Team Members

Contacting Project Officials and sending our audit request
Field work to be carried out including Follow up of internal control issues
Preparation of audit working files, field reviews, discussion of findings and
clearing of issues with the Project Officers.

Preparation
Preparation of
of financial
financial reports
reports
Review
Review of
of reports
reports by
by Task
Task Manager
Manager
Quality
Quality Control
Control Review
Review by
by the
the Quality
Quality Control
Control Partner/
Partner/
Department
Department

ST
Submission
Submission ofof 11ST Draft
Draft financial
financial reports
reports by
by BBC
BBC Professionals
Professionals to
to the
the Client
Client
Discussion
Discussion of
of the
the draft
draft reports
reports with
with Client
Client officers
officers and
and the
the representatives
representatives of
of the
the
Management,
Management, Board
Board Of Of Trustees
Trustees amongst
amongst others
others
Clearing
Clearing of
of issues
issues and
and issuing
issuing the
the Final
Final Draft
Draft Reports
Reports by
by
BBC
BBC Professionals
Professionals to to the
the Client
Client

Obtaining
Obtaining approval
approval for
for Final
Final production
production ofof the
the financial
financial reports
reports for
for signing
signing from
from Management
Management
Production
Production and
and submission
submission of of final
final printed
printed financial
financial reports
reports by
by BBC
BBC Professionals
Professionals
Signing,
Signing, Stamping,
Stamping, and
and Sealing
Sealing of
of Financial
Financial Reports
Reports by
by BBC
BBC Professionals
Professionals and
and Client’s
Client’s Officials
Officials
Final
Final submission
submission of
of reports.
reports.

Based on our experiences, we believe that the assignment will be handled efficiently and concluded within the time to
be agreed by the Organization and our Firm. Our strategy is to use weekends and putting in extra daily hours for tasks
that will be carried out solely by our firm in order to achieve the target of the assignment.

Technical Proposal for Appointment as External Auditors to PUI – By BBC PROFESSIONALS Page 20
5.2 PRELIMINARIES:
Upon our appointment as External Auditors to PUI, we shall carry out the following:
 Forward our Letter of Acceptance signifying our acceptance of the appointment.
 Issue Letter of Engagement which shall spell out the terms of engagement.
 Obtain name and address of the former auditors in order to communicate and obtain
professional advice with regards to client acceptance procedures in line with ICAN and
IFAC guidelines (if any).
 Hold meetings with the Management Team along with the Finance Team and Audit
Committee (if in place) to discuss issues concerning the audit.
 Issue Audit Planning Memorandum.
Consequently, we shall obtain necessary background information and documentations for the
purpose of the audit.
Such background information and documentations shall include but not limited to:

1. The Organization’s Profile which will contain amongst others: History, Establishment,
Head Office, Other Offices, Board, Top Management Staff, Union Hand Book, etc.
2. Names and addresses of Former Auditors, Legal Advisers, Secretary and other
professional Advisers.
3. List of Bankers, Name of Account, Account Numbers and addresses of the Bank.
4. Trial balance for the financial year (for audit purpose).
5. Management accounts.
6. Systems process flow chart.
7. Cash books (for all banks, cash and petty cash).
8. Bank reconciliation statements files for all the banks, cash and petty cash.
9. Bank statements for the first quarter of the next financial year.
10. Authorization limits for cheques, purchases, contracts etc.
11. Specimen signatures of Authorizing officers and signatories to the banks.
12. Schedule of Property, Plant & Equipment (including additions, on-going projects, re-
classifications, revaluations & disposals).
13. Receivables/creditors schedules and their addresses.
14. Age-analysis of debtors and creditors including details of bad debt provisions (if any).
15. Other Statement of Financial Position and income statement schedules.
16. Income summary (classified into types, locations etc).
17. List of accredited suppliers and nature of supplies (both foreign and local).

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5.2 PRELIMINARIES: (Cont’d)

18. Stock taking report (including stock sheets, valuation of closing stocks & exception
report).
19. Corporate Governance Report.
20.Internal auditor’s reports.
21. Organization’s review of processes for risks, internal control and compliance.
22. Governance information and Organization’s strategic focus/plans.
23. Minutes of meetings for Board, Management, Annual General Meeting, e.t.c.
24. Report on going concern reviews
25. Organizational chart.
26. List of management staff and their designation.
27. List of staff.
28.Staff payroll.
29. Staff loans and advances register/ledger.
30.List of related third parties and nature of relationships.
31. Transactions carried out with related parties.
32. Major contracts and contractual agreements.
33. Schedule of contingent liabilities.
34. Details of litigations and impact on the Organization.
35. Annual budgets (including capital expenditure budget).
36. Payment vouchers (samples required).
37. Journal vouchers (samples required).
38.Receipts & Invoices (samples required).

The above are expected to be obtained before or during the commencement of the
assignment after which such information will be discussed with the personnel to be
engaged in the assignment in order to:

 acquaint professional staff with the background information of the

Organization;
 brief the personnel on the core functions of the Organization;
 be well informed on the strategy to be adopted to ensure that the audit
objectives and timetable are borne in mind while carrying out the audit assignment;
 design appropriate Audit Programme;
 brief the team members as to the requirements, timing and explanation of
work programme; and
 ensure that the audit is carried out efficiently and effectively in accordance
with all relevant local, regional and international standards on auditing.

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5.3 WORK PLAN AND METHODOLOGY

General procedures
We shall carry out pre-audit meeting/visits in order to clearly understand the
organizational structure in place, the relationship with other Establishments (if any).
This will enable us to know the structure in place and plan our staff strength and mix
for the audit field work.

Even if the financial records are kept in the Head office, we shall also visit other
Branches (if any) to carry out tests and verifications in order to satisfy our audit
procedures and ensure that the evidences gathered are enough to support our audit
opinion.

Audit Programme and other procedures designed for the assignment

would be shared amongst the team members as worksheet to be guided by
the Engagement Partner with a view to ascertaining:
 the existence of internal control systems;
 adequacy and reliability of internal control system;
 whether the Organization has internal audit in place, their effectiveness and extent
of reliance to be placed on its work;
 the Organization’s main source of revenue;
 other sources of income available for the Organization;
 expenditures made and expenditure pattern;
 recording, presentation and disclosure of transactions in the financial statements;
 that incomes and expenditure have been treated accordingly and also with a view
to identifying:
i) adequacy of accounting and internal control system;
ii) whether all incomes recorded were properly treated in the financial
statements;
iii) adequate monitoring of expenditure and their validity;
iv) that expenditures are eligible and duly authorized; and
v) any ineligible expenditure and in-adequacies in record keeping for inclusion
in our management control report.
We shall carryout third party confirmations as part of our audit evidence which shall
support our audit opinion. Using the addresses of the professionals collected, we shall:
 write the Legal Advisers with a view to obtaining first hand information on
litigations involving the Organization. This will assist us in knowing the extent of
the Organization’s exposure to other parties and also enable us to indicate same in
the contingent liabilities as note to the audited financial statements;
 send circularization letters to all the Organization’s Bankers to confirm the
account balances as at the end of the year or period as the case may be;
 circularize the Receivables at the year-end in order to obtain evidences to
corroborate the records of the Organization and this will form part of our audit
evidences;

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  also circularize the Organization’s Creditors for the same purpose of obtaining
audit evidences to support our opinion.

5.3 WORK PLAN AND METHODOLOGY (Cont’d)

Financial statements

For the financial statements, we shall review and ensure that:

 the accounting policies adopted for the preparation of the Organization’s financial
statements exists and are adequate;
 the assets of the Organization are complete, in existence, accurately recorded and
presented;
 fixed or movable assets acquired are duly authorized and the processes of
acquisition in line with the laid down procedures;
 the fixed assets register are updated to show date of acquisition/valuation location,
cost/valuation, custody, safety, usability, adequacy of insurance amongst others;
 all other assets of the Organization such as Investments and investment properties,
Stocks, Debtors amongst others are properly presented and disclosed in the
financial statements;
 the liabilities of are completely stated and corresponding benefits had been enjoyed
(value for money);
 bank reconciliation statements are prepared for all bank accounts on monthly
basis; and
 all necessary supporting documents, records and accounts are kept in respect of all
Organization’s activities.

During the cause of the field work, separate files shall be maintained by each team
member to whom sectional allocation of work is assigned. A review of those files shall be
carried out by the Audit Manager/Engagement Partner while on the field.

The exercise would lead to obtaining reliable, relevant and sufficient audit evidence about
the existence, ownership and value of the assets and also ensure that all debtors, creditors
and accrued expenses are recognized.
Towards the conclusion of the audit field work, the Engagement Partner and Authorized
Official of the Organization and the Head of the Accounting/Finance Department are
expected to discuss issues arising during the audit such as findings, observations and
comments at an exit meeting. Some of the issues will form part of the management
control report.
A thorough review of the Audit working papers file compiled by the Auditor in-charge
would be carried out by the Audit Manager and Engagement Partner while the Concurrent
Review Partner will carry out the final review of the files, draft audited financial
statements and management control report.

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5.4 PROCESS OVERVIEW AND QUALITY ASSURANCE
Process overview and quality assurance obtainable in BBC is better experienced than
explained. Our process starts by planning the audit assignment. The plan sets out clearly
what Audit objectives we intend to achieve and at what time frame.

In summary, the process is displayed in Risk and Quality Assurance Flow

Chart stated below:

4. POST ASSIGNMENT
1. PRE-COMMENCEMENT
-Reports & recommendations to
- Briefings from the Supervising
Mgt.
Partner
-Discussion of issues raised during
- Completion of Ethics and
the assignment
Independence documentations
-Identification of key officers that
- Review of Business environment
has responsibility for mitigating
that Client operates
risks
-Assessment of likely Market and
-Follow up of issues raised and
business risks
progress made to improve the Mgt
Processes

2. FIELD WORK
-Review of Client Systems,
3. HOME OFFICE
Processes and Procedures
-Work done by staff passed to the
-Review of Business and market
Supervisor for review
risks
-Manager and Engagement Partner
-Evaluation of the impact of
shall review the Files and Reports
Transactions with related parties
-Files and Reports shall be passed
and others
to the quality control department for
-Review of Going-concern
final review
assumptions made by Mgt

Although the Supervising Partner will be in-charge of the audit, we have a quality
assurance department headed by a Senior Partner, where all plans and jobs go through to
ensure completeness, accuracy and compliance with the relevant local and international
standards, laws and regulations.

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 In effect, our reports and other deliverables shall pass through the department before we
issue the draft reports to the Client.

5.5 Final reports

Having carried out the audit field work and various stages of review, we shall issue the
draft financial statements and management control report alongside with outstanding
issues (if any). The management control report shall contain details of our review, issues
observed, consequences of lapses and recommendations.

We shall hold further meetings with the Top Management, Finance or Audit Committee (if
applicable) to discuss the draft financial statements and management control report.

After necessary consideration and approvals of the financial reports by all concerned, we
shall issue the final audited financial statements and management control report to the
Union.

5.6 Conclusion

We recognize that all methodologies to be adopted in carrying out the audit may not have
been spelt out fully in this proposal while other approaches and methodology will be
contingent on-the-job and situations that may arise during the field work.

The above is therefore the summary of what we intend to do if appointed as external

auditors to Premiere Urgence Internationale.

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 6.0 RESUME OF SOME KEY PESONNEL OF BBC PROFESSIONALS

The Resume of our partners is presented below:

Chairman/Managing Partner
Position:
Name of Firm: BBC PROFESSIONALS

James Ofoma OBOGWU

Name of Staff:
Accountancy/Auditing
Profession:
13 July, 1968
Date of Birth:
Experience: 33 Years Nationality: Nigerian

Education:
School Date Qualification
University of Benin, Benin City 1999 – 2001 MBA (Business Administration)
St. Paul Grammar School, Ebu 1982 – 1987 WAEC/GCE O’Level

Professional qualifications:
Institute of Chartered Accountants of Nigeria (ICAN) - FCA
Chartered Institute of Taxation of Nigeria (CITN) - FCTI

Employment Record:
Company Period Position
BBC Professionals 1 April 2013 – date Managing Partner
BBC Professionals 1 April ‘12 to 31 March,‘13 Deputy Managing Partner
BBC Professionals 2005 to 31 March, 2012 Partner
BBC Professionals 2001 to 2004 Audit Manager
BBC Professionals 1997 to 2001 Audit Senior
BBC Professionals 1986 to 1997 Audit Trainee

Languages (Written and Spoken):

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Igbo - Excellent
English - Excellent

RESUME OF SOME KEY PESONNEL OF BBC PROFESSIONALS

Deputy Managing Partner

Position:
BBC PROFESSIONALS
Name of Firm:
Everestus Uche ITODO
Name of Staff:
Accountancy/Auditing
Profession:
15 December, 1973
Date of Birth:

Experience: 27 Years Nationality: Nigerian

Education:
School Date Qualification
University of Lagos, Akoka 2011 M.Sc. (Management)
Oxford Brookes University, Oxford, UK 2009 B.Sc. Applied Accounting
Skolak Resources Information Tech. Centre 1999 Cert. Data Processing
St. Theresa’s College, Nsukka 1992 Senior Sec. School Cert.
Ifrouka Primary School, Amalla 1986 First School Leaving Cert.

Professional qualifications:
Institute of Chartered Accountants of Nigeria (ICAN) - FCA
Chartered Institute of Taxation of Nigeria (CITN) - FCTI
Association of Chartered Certified Accountants (ACCA), UK - FCCA
Employment Record:
Company Period Position
BBC Professionals 1 April ‘13 – date Deputy Managing Partner
BBC Professionals April ‘09 to 31 Mar, ‘13 Partner
BBC Professionals 2006 to 2009 Manager, Supervisor,
Audit Senior
Mu’allahyidi & Co, Kaduna 2003 to 2006 Assist. Audit Mgr, Senior
Supertex Limited, Kaduna 1995 to 2003 Shift Section Controller
Union Adhesive & Chem. Co Ltd. 1993 to 1995 Administrative Clerk

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Languages (Written and Spoken):
English & Igbo - Excellent
Hausa - Fair

RESUME OF SOME KEY PESONNEL OF BBC PROFESSIONALS

Partner
Position:
BBC PROFESSIONALS
Name of Firm:
Ayodele Morounkeji ADETUYI
Name of Staff:
Accountancy/Taxation
Profession:
14 September, 1975
Date of Birth:

Experience: 22 Years Nationality: Nigerian

Education:
School Date Qualification
University of Liverpool, UK 2o12 – 2016 International Fin. Reporting
University of Lagos, Akoka 2011 MBA (Finance)
Olabisi Onabanjo University 2006 B.Sc. (Banking & Finance)
Business Solution Limited 1999 Cert. Data Processing
Egan High School, Ojo, Lagos 1993 Senior Sec. School Cert.
St Dominic Catholic Primary School 1987 First School Leaving Cert.
Professional qualifications:
Institute of Chartered Accountants of Nigeria (ICAN) - FCA
Chartered Institute of Taxation of Nigeria (CITN) - FCTI
Employment Record:
Company Period Position
BBC Professionals Oct. 2010 to date Partner
BBC Professionals 2003 to Sept, 2010 Audit Senior, Supervisor,
Senior Tax/Audit Manager
Oladeji Olagunju & Co 2001 to 2003 Tax/Audit Manager
Royal Value Int’l Limited 2000 to 2001 Accountant
Oladeji Olagunju & Co 1998 – 2000 Audit/Account Trainee
A A Consultant 1997 – 1998 Admin Officer

Languages (Written and Spoken):

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English - Excellent
Yoruba - Excellent

RESUME OF SOME KEY PESONNEL OF BBC PROFESSIONALS

Partner
Position:
BBC PROFESSIONALS
Name of Firm:
Gloria Chineku EGWUENU (Mrs.)
Name of Staff:
Audit/Accountancy/Taxation
Profession:
21 May, 1973
Date of Birth:

Experience: 22 Years Nationality: Nigerian

Education:
School Date Qualification
University of Lagos, Akoka 2012 M.Sc. (Management)
Tenderfem Computer Ltd. Osogbo, Osun State 1996 Diploma Computer Studies
Edo State University, Ekpoma, Edo State 1995 B.Sc. Accounting
Ibru college, Agbarha Otor, Delta State 1987 West African School Cert.
Abbi girls Sec. Sch., Abbi, Delta state 1984 “ “ “
Professional qualification:
Institute of Chartered Accountants of Nigeria (ICAN) - FCA

Employment Record:
Company Period Position
BBC Professionals April 2011 to date Partner
BBC Professionals 2004 to 2011 Manager, Supervisor, Senior
Bytex Nigeria Ltd 2004 to 2006 Accountant
Shonubi Abah & Co 1999 to 2004 Auditor
Omega Bank Plc 1998 to 1999 Business Dev. Officer
(Now Enterprise Bank Limited)
Good shepherd High School 1997 to 1998 Class Teacher
The Accountant general’s Office 1995 to 1996 Accounting Officer
Oshogbo Osun State (NYSC)

Languages (Written and Spoken):

English - Excellent

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Igbo - Fair

RESUME OF SOME KEY PESONNEL OF BBC PROFESSIONALS

Partner
Position:
BBC PROFESSIONALS
Name of Firm:
Olaniyi AGBEJE
Name of Staff:
Audit/Accountancy
Profession:
12 January, 1971
Date of Birth:

Experience: 17 Years Nationality: Nigerian

Education:
School Date Qualification
Ondo State Polytechnic, Owo 2o00 HND Accountancy
Ondo State Polytechnic, Owo 1997 OND Accountancy
Comprehensive High School, Ekiti State 1993 Senior Sec. School Cert.
Army Children Pri. School, Kaduna State 1987 First School Leaving Cert.

Professional qualifications:
Institute of Chartered Accountants of Nigeria (ICAN) - FCA

Employment Record:
Company Period Position
BBC Professionals 1 April 2017 to date Partner
BBC Professionals 2010 to March, 2017 Audit Senior, Supervisor,
Manager
Temidayo, Adebayo & Co 2003 to 2010 Audit Manager
Modecom Solution Limited 2002 to 2003 Account Officer

Languages (Written and Spoken):

English & Yoruba - Excellent
Hausa - Fair

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 7.0 PROFESSIONAL FEE

Our charges are usually based on the volume of job and cost input in
accomplishing the assignment. The chargeable fees is within the rates approved by
the Institute of Chartered Accountants of Nigeria (ICAN) and are competitive,
moderate, reasonable, affordable and negotiable.

The proposed fee for the audit service shall be seven hundred and fifty
thousand Naira (N750,000).

As for the Taxation services, we don’t envisage much as NGOs don’t pay Income
Taxes and the Tax Advisory may not be regular. Consequently, we are not
charging any fee on it for now.

8.0 DOCUMENTS ATTACHED

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- Certificate of Registration with Corporate Affairs Commission (CAC)

- Partners/Firm’s Tax Clearance certificates

- Partners’ Practicing Licenses

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 Certificate of Registration with

Corporate Affairs Commission (CAC)

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Technical Proposal for Appointment as External Auditors to PUI – By BBC PROFESSIONALS Page 35
Partners/Firm’s Tax Clearance

certificates

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Technical Proposal for Appointment as External Auditors to PUI – By BBC PROFESSIONALS Page 37
Technical Proposal for Appointment as External Auditors to PUI – By BBC PROFESSIONALS Page 38
 Partners Practicing
Licenses

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Technical Proposal for Appointment as External Auditors to PUI – By BBC PROFESSIONALS Page 41
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