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J. I. Ogugofor B.Sc., M.Sc., FCA, MNIM

JONAS IKECHUKWU OGUGOFOR, FCA
Profession: Chartered Accountant

Professional Qualification: Mr. J. I. Ogugofor is a Partner in the firm. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) as well as an Associate of the Nigerian Institute of Management (NIM).

Academic Qualifications: He has a 2nd Class Upper Bachelor's Degree (B.Sc) in Accountancy and a Master of Science Degree (M.Sc) in Economics.

    Services to ICAN:
  • Assessor, Professional Examinations – Management Information System, 2002 - Date.
  • Chairman, ICAN Professional Scale of Fees Ad-hoc Committee, 2002.
  • Resource person on many of the Institute's Seminars, workshops and other training Programmes.
    Engagement Partner for the Following Accountancy and Audit Assignments:
  • Health System Fund (A World Bank Project)
  • Independent National Electoral Commission (INEC)
  • The Nigerian Corporate Affairs Commission (CAC)
  • The Nigerian Securities & Exchange Commission (SEC)
  • The Nigerian Investments & Securities Tribunal (IST)
  • Federal University of Technology, Owerri (FUTO)
  • Regency Financings Limited
  • Syndicated Investment Holdings Limited,
  • Nigerian Gas Cylinders Manufacturing Co. Limited (Subsidiary of Total Nig. Ltd.)
  • King Manufacturing Company Limited
  • Modotel Group of Companies
  • Alliance for Democracy (AD)
  • Swift Networks Limited
  • Cuneco Securities Limited
  • PAL Breweries Limited, OKO
    Engagement Partner for the Following Consultancy Assignments;
  • SEC - Capital Market Investigations
  • PTF - Bank Transactions Investigation
  • NSITF - Fixed Assets Verification, Compilation and Computerisation
  • CAC – Investigation (2004 – 2009 Special Review of Financial Operations)

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A company that trades stock on a registered stock exchange or is preparing to issue new shares of stock must submit to an external audit. These companies are known as publicly traded companies. An external audit is used to give the public a true statement of a company's financial position. It is made at least once a year by public accountants who are not regular employees of the company. The auditors make sure that the company has followed proper accounting procedures in its financial records and statements. They compare the current financial statements with those of the previous year to determine whether the statements are calculated consistently. If they are not, they present a distorted picture of the company's financial position. The auditors also inspect real estate, buildings, and other assets to see if their value is overstated. Debts and other liabilities are checked to see if they have been understated.
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