JOHN AYAE & CO

25/07/2020

*INTERNAL CONTROL*

When your revenue increases but it's not translated into cash in Bank
*It means you don't have an internal control.
*You have an internal control set up by a competent accountant but it's not being applied OR,
* There's collusion amongst staff defrauding the system.

Where your revenue is increasing at the same rate as your debtors.
It means you don't have an internal control.
Where you have an internal control set up by a competent accountant.
The above asterisked condition has evaded your company, association, business etc
Call us at JOHN AYAE & Co. +2348047710895 We can help you to rectify your situation.

Send a message to learn more

25/07/2020

*HOW BVN CAN EXPOSE HIDDEN TAX LIABILITIES*

The Central Bank of Nigeria just issued the guidline for Global Standing Instruction (GSI).

This platform is design to aggregate all your bank accounts including joints, children & investment accounts across all Nigerian banks and financial institutions.

1. This gives/allow your lending bank to be repaid from any where your fund is saved.

2. Tax authorities will collaborate with CBN to use this platform in the foreseeable future.

Here are the lists of things they can possibly do with this platform.

Many Taxpayers are fond of abandoning their companies by creating new ones to avoid tax liabilities already incurred on the old entity. This platform may bring out the buried companies.

This platform will be a potent tool during tax audit and tax investigation to uncover previous understated revenue.

Once FIRS appoints a bank as a tax agent, they may be able to go after the tax defaulters accounts in all banks.

State Internal Revenue Services will be able to determine more accurately all income.

My advice is for you to make that move to regularise now.

The more you delay, the more expensive it becomes.

Penalty & Interest at 29%.

Late Return Penalty.

Late Submission Penalty.

You must stop these extra charges from accruing NOW!

By:
John Osumade Esq

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17/04/2020

Good morning,

Corporate Affairs Commission has started working on the documents submitted previously to their site, meaning that we can continue working with them online till the lockdown is over. Also they have continued with the use of their old certificate which has two seals.

Business name registration and Company registration remains the same.

Call or send us a message for your registration. We can discuss the cost.

John Ayae & Co (Accountants/Consultants) email:[email protected]. website:

26/06/2018

Voluntary Assets and lncome Declaration (VAID) extension ends 30 June 2018. if you are yet to do your VAID the tax authority will pounce on you and might force you to pay through your nose or send you to jail
Don't say l didn't warn you Call us now to assist you, before it's too late, wherever you are, we can help. 08033675077 is the numbers to call.

26/05/2018

A *RABBIT* runs, jumps, moves faster and lives for only fifteen *15 years* while a *TORTOISE* doesn't even attempt any of such activities but lives for *150 years or more*

*Life* is not about *rushing, comparison and doing what others are doing* but rather *keep calm* and do what is *right* and what you are *called to do*.

They may live in the *same* forest and play together but have *different life expectancy*.

We must remember that we will have *age* mates, *class* mates, *school* mates, *office* mates but there are no *DESTINY MATE* in life.

Be who you are *called to be*, *love* who you are and *thank God* for your special journey which may not look like others!!
This is the simplest way to succeed in life!!

03/04/2018

Bitcoin taxation: a global challenge for tax authorities; what's Nigeria plan? Cryptocurrency is an intangible assets that can attract capital gain tax... For more information visit www.johnayaeco.webs.com

27/02/2018

"Accounting is like the compass to the ship, the doctor to the body, and the sole to the shoe. If there is no proper accounting, there is neither sense of direction nor knowledge of position and business is in total confusion..."

11/01/2018

PHRONESIS lntl Schools, Asaba

24/11/2017

How to Transform Internal Audit with Analytics and CAAT
____________________________________________________________________
As organizations strive to enhance their risk management capacity, be more responsive to regulatory requirements and serve customers profitably, there is need for organizations to strengthen internal audit capability by adopting and internalizing analytic tools into internal audit functions and processes.
CAAT – Computer Assisted Audit Tools - is a data analytics software that aids the process of auditing by increasing audit coverage, guarantees data integrity and ensure more effective audits.
Increasing number of audit professionals admit that data analytics skills are essential to effective delivery of their internal audit functions. Also, stakeholders’ expectations of internal audit to leverage data analytics in its assurance functions have been on the increase according to a 2016 industry survey by the Institute of Internal Auditors (IIA).
Despite the fact that data analytics and CAAT have been a part of auditing for nearly thirty years, many organizations are still struggling with adopting analytics and effective implementation of CAAT to enhance internal audit capability.
In our opinion, there are five best practices steps to effective implementation of CAAT and successfully incorporating analytics into internal audit processes.
Ask us and we can help u @ JOHN AYAE & Co. Check our website 4 more www.johnayaeco.webs.com or www.facebook.com/JOHN AYAE & Co or call 08082160075 or 08033675077

The site is to intimate the public of our professional services in Accounting and Consultancy. We are partners with government establishment/agencies, Banks, Private Companies etc in all financial, management and lCT activities.

06/09/2017

BABATUNDE OGALA, ESQ, CONTD..page 2.National Inland waterways Authority Act and made a robust presentation for state control of Inland Waterways and total repeal of the Act on behalf of Lagos State .

A then top ranking and very outspoken and visible Senator from Enugu State was the most vociferous opponent of our position. He even said publicly at the hearing that Lagos State was being too cantekerous and asked insultingly if Lagos was the only coastal state or with waterways in the country that it was so canterkrous on the issue. This is a man whose state has rivers that could be of economic benefits to his state and people .

I educated him before his colleagues and the public in fine and polite language that he was not fit to be a Senator .
I also recall telling him that if he and his state dont t know the rights of his people and state, we in Lagos did and would assert same using the law.

I asked him if he was proud that by the National inland Waterways Authority Law his people in Enugu state will need to travel to lokoja to obtain licences to own and operate fishing canoes on the rivers and streams in the state

I felt he was very disappointing and was betraying his people.

The senator sought to be Governor and is today one of the major voices and sponsors of secession and restructuring mixed up.

Lagos State House of assembly subsequently repealed the National Inland Waterways Authority Act and promulgated the Lagos State Inland Waterways Authority Act and took control of the Lagos Lagoon and its intra state waters.
There were objections and protests from such bodies as Nigerian Ports Authority and NIWA .

Lagos called their bluff and challenged them to go to court.

Lagos used rhe intrumentality of the law, legislature and intellect to take its destiny in its hands and assert it's rights.

It was the series of litigation by LASG that has now effectively handed physically planning and land ownership back to the states.

Before then, the

28/08/2017

"Money will never buy happiness, but managing your money well can provide the peace of mind that will allow you to focus your family on what matters most."
Devin D.

Have a peacefully blessed day!