Thursday, 11 September 2014

FIRS Evolves New Audit Mechanism for Revenue Collection



The acting Executive Chairman, Federal Inland Revenue Service (FIRS), Alhaji Kabir Mashi yesterday said audit tools and techniques had been introduced to increase tax revenue collection across its field offices in the country. He said a framework and template had already been developed to help monitor audit activities and assignments in its drive for increase tax revenue collection as well as boost expansion of the nation’s revenue base. Speaking in Abuja during a one-day interactive session for Heads of Audit and supervisors across the country, Mashi  said the intention of his agency was to extend the new audit techniques currently being deployed through the Capacity Enhancement Programme (CEP) at the Large Tax Offices to all other offices across the country in order to complement the audit model contained in its Integrated Tax Administration System (ITAS). He added: "Our plan also includes intensifying our monitoring of audit activities and to this end; we have developed a monitoring framework and template for your tax audit assignments. This would easily check and determine compliance level, check your risk profiling systems, your audit time reporting system and the targets against actual collections at the various levels. Mashi also stressed the need for adherence to high ethical standards including internal policies, general audit guides, proper supervision, display of high moral and ethical conducts. He pledged that the FIRS Management would continue to provide participants and field offices with the needed support in the areas of capacity development, funding as well as latest audit tools.
Thisday Newspaper

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