Audit Assurance

All companies in compliance with the provision of Sec. 357 of Companies and Allied Matters Act of Nigeria require that every company shall at each general meeting appoint an auditor or auditors to audit the financial statements of the company.

Pedabo Audit Services (Formerly Fashina Folorunsho & Co) is an indigenous firm of Chartered Accountants, with partners registered with the Securities and Exchange Commission (SEC). We specialize in providing independent and specialist support in Statutory Audit and Financial Advisory services to both public and private organizations.

Pedabo Audit has value creative services which combined with strong financial accounting skills and years of experience in the provision of statutory audit, systems audits, evaluation and development of accounting system and critical assessment of systems and processes. The Firm provides a total service to all its clients by focusing on financial management and organisational performance improvement and thus add value to the systems of our clients.

We have developed our own in-house methodology in our approach to our assignment, the outcome of which makes our reports acceptable to any standard in the world.

Accounting Services

The firm is available to provide accounting support services for companies that operate without an in-house accountant. Pedabo’s accounting services include 

  • Keeping the records of cash/cheque receipts and payment.
  • Posting the income and expenditure ledgers.
  • Maintaining a record of the assets and liabilities of the Company.
  • Writing up the general ledger and subsidiary ledgers.
  • Preparing a monthly trial balance and management account thereon.
  • Reconciling the cashbook/bank account balances with the bank statements
  • Maintaining suitable systems for filing all invoices and other documents relating to the accounting system.
  • Offering other accounting related advisory service.

Internal Audit

Internal audit is designed to review what a company is doing in order to identify potential threats to the organization’s health and profitability, and to make suggestions for mitigating the risk associated with those threats in order to minimize costs.

IFRS Conversion

The Financial Reporting Council of Nigeria has mandated all companies in Nigeria to convert from Nigeria Generally Accepted Accounting Principles (NGAAP) to International Financial Reporting System (IFRS).