The Yobe State Education Trust Fund, YETFund, has invited proposals from certified Nigerian audit firms for the audit of its finances for the year ending 31st December 2022, in compliance with the extant company’s laws and regulations of Nigeria.
The Secretary of the board of the Fund, Prof. Mamman Lawan Yusufari, in a statement sent to DAILY NIGERIAN on Monday, said the purpose of the audit was to ensure that YETFund’s financial statements are accurate and compliant with the relevant laws and regulations.
The statement noted that the bidding process would take place On today, Wednesday, at 12:00 noon at YETFund’s head office, Yobe Investment House, Abuja.
“After the bidding, the Board of Directors of YETfund will select the most suitable firm and issue it with formal instructions, based on its approved terms of reference, to carry out the audit for the year ending December 31, 2022,” the statement added.
“The successful audit firm will be expected to carry out the audit according to international best practices and submit a report accordingly.
“The final audit report will be filed as a return to the Corporate Affairs Commission (CAC) as required by law, the Yobe State Government and would subsequently be posted on YETFund’s website at www.yetfund.org for access by the general public,” the statement concluded.
YETFund is a company limited by guarantee, registered under the Companies and Allied Matters Act, CAMA, 2020, Laws of the Federation of Nigeria, as an intervention entity to support the Government of Yobe State in the revitalisation and development of basic and secondary education.
Part of the mandate of YETFund is to invest and manage funds realised at the Education Appeal Fundraiser held by the Government of Yobe State in February, 2022 and from other donations and partnerships; and to direct the proceeds of its investment to critical areas of need of the education sector in the insurgency ravaged State.
