YETFund announces bids for annual financial audit
The Yobe State Education Trust Fund (YETFund) has announced that it is scheduled to receive and open proposals for the audit of its finances for the year ending 31st December 2022 in compliance with extant companies laws and regulations of Nigeria.
This was disclosed in a statement signed by Professor Mamman Lawan Yusufari, SAN, Member/Secretary, YETFund Board of Directors on Monday in Abuja.
Prof. Yusufari said the purpose of the audit is to ensure that YETFund’s financial statements are accurate and compliant with the relevant laws and regulations.
The statement reads, “Earlier, YETFund LTD/GTE, being a small, non-profit company had issued invitations for proposals to four certified Nigerian audit firms to submit proposals for their participation in the bidding process, which will take place at 1200 hours noon on the 3rd of May, 2023 at YETFund’s head office, at Suite 5.01, 5th floor, Yobe Investment House, Abuja.
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“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 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 Yobe State Education Trust Fund (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.
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