Wednesday, September 21Inside Business Africa

Ibadan varsity bursar refutes ICPC’s claim on auditor’s blindness

Bursar of the University of Ibadan, Dr. Michael Alatise, has clarified that the auditor he talked about at the National Assembly neither died nor went blind while auditing the university’s accounts.

He was responding to allegation of budget padding by the Independent Corrupt Practices and Other related Offences Commission (ICPC), saying, “I was surprised that Chairman of ICPC, Professor Bolaji Owasanoye, could make such claims unverified claim about University of Ibadan.

He stated this on a live radio programme with Diamond FM, insisting that the auditor was alive.

“The Vice Chancellor was invited by the Public Accounts Committee, but he was not around and so the Deputy Vice Chancellor (Administration), Professor Kayode Adebowale represented him at the public hearing.

“The presentation of the university was actually made by Professor Adebowale. I only made clarification when questions were being asked.

“The auditor did not become blind while auditing the accounts of the university. What happened is that we had Alhaji Akinmade auditing the university’s accounts up until 1999 and then M.O. Kehinde and Co. Chartered Accountants started the audit from 1999 and the last accounts it audited was up to 2007/2008.

“The account was actually completed and submitted in 2011. We then we engaged another firm- Oyedele Akinbode & Co. Chartered Accountants to continue the auditing of the university accounts from 2008/2009.

“We call these firms partnership. Now, M.O. Kehinde submitted the audited accounts for 2007/2008, signed by the Vice Chancellor and the Bursar and submitted to the Office of Accountant-General of the Federation.

“But when Oyedele Akinbode & Co. started the auditing, they needed some clarification on the 2007/2008 accounts that was audited by M.O. Kehinde and Co.

“Traditionally, the auditors are supposed to maintain two files namely: The Permanent File and Current File. The current file should detail the nitty-gritty of work done by the auditor.

“The clarification that Oyedele Akinbode needed should actually be in the current file for 2007/2008 audited accounts done by M.O. Kehinde. By that time, the Glacoma problem of Managing Partner of M.O. Kehinde and Co. had gone worse and he could no longer see,” he stated.

Alatise further explained that there was delay of close to one-and-a-half years before Oyedele Akinbode could turn in the first account, but that the account now being is prepared yearly.

He said after auditing the first financial year, the auditing of the next financial year begins, insisting that was exactly what played out.

He continued, “We were trying to explain why the university has not completed the account of 2014 to 2018 as demanded by the Public Accounts Committee of the House of Representatives.

“The first reason is that there was delay for Oyedele Akinbode to takeoff and it needed to have a smooth transition from M.O. Kehinde. That was what caused the first delay and not that the man became blind while auditing the university accounts.”

Source: Guardian

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