MLSCN Technical Proposal

EXPRESSION OF INTEREST FOR
ENGAGEMENT AS
EXTERNAL AUDITORS
(LOT 4)
TO
MEDICAL LABORATORY SCIENCE COUNCIL

OF NIGERIA
(MLSCN)
SUBMITTED BY:
BBC PROFESSIONALS
[CHARTERED ACCOUNTANTS]
Expression for Engagement as External Auditors to MLSCN – By BBC PROFESSIONALS Page 0

MEDICAL LABORATORY SCIENCE COUNCIL
OF NIGERIA
(MLSCN)
EXPRESSION OF INTEREST
FOR ENGAGEMENT AS EXTERNAL AUDITORS
(LOT 4)
CONTENTS PAGE
1.0 Brief introduction of our firm 3
2.0 Our Offices and Contact Information 11
3.0 Experiences and similar assignments 12
4.0 Our understanding of the assignment 15
5.0 Brief Methodology proposed for

performing the audit assignment 18
6.0 Resume of BBC Professionals Partners 25
7.0 Documents attached 29 - 49

1.0 BRIEF INTRODUCTION OF OUR FIRM
1.1 ESTABLISHMENT
BBC PROFESSIONALS (Formerly Balogun Badejo & Co) was established on 1 April, 1969
and it is one of the largest indigenous practicing accounting firms in Nigeria offering to
clients; professional auditing, accounting, tax, insolvency, consultancy, financial
and management advisory services, amongst others.
The firm had continued to render excellent accounting services to her numerous clients and
the nation at large for over 48 years. During these years of existence, the firm has had the
privilege of having two Partners as Past Presidents of The Institute of Chartered
Accountants of Nigeria (ICAN). These are Sir John A Balogun, KSC and Chief Adeboye
O Badejo in 1980/81 and 1999/2000 respectively.
We also make bold to say that one of our own that trained and qualified in BBC Professionals,
Mr. Chidi Ajaegbu was the Golden Jubilee President of the Institute, a rare privilege
that we cherish and which adds credence to our corporate existence.
1.2 CHANGE OF NAME

In order to reposition the firm for better services to her prospective and numerous customers
and further improve our brand name, the firm changed her name in October 2012 (though
the certificate was received in 2013) from Balogun Badejo & Co to BBC PROFESSIONALS. As
a result of the change, note that some of the documents that were included in this proposal
had the old name.
1.3 INTERNATIONAL AFFILIATION

We are affiliated with PrimeGlobal which is a global network of accounting and
consulting firms with offices in over eighty six (86) countries located in all the continents
of the world. The essence of all these is that we have expertise both locally and
internationally to meet the demands of our profession.
Our international office in MIAMI, FLORIDA (USA) together with any of PrimeGlobal
offices in the world are available to join us in carrying out any exercise should their services
be required.
The World Headquarters of PrimeGlobal is located at:
9200 South Dadeland Boulevard

Suite 510 Miami
Florida 33156
USA

1.4 MISSION
Our mission is to excel in our special areas of proficiency: accounting, auditing,
taxation, management advisory services, insolvency, etc and place at the disposal of
our clients the highly technical skills peculiar to the very professional accountant.
1.5 TEAM SPIRIT

In line with our mission, we work as a team to bring about the needed solutions and high
quality delivery to our numerous clients. We believe in Team Spirit and that we have
exhibited in all our previous assignments and shall equally bring to bear in future projects.
In BBC, we believe that no one knows it all. Consequently, we brainstorm to proffer solutions
when the need arises.
BBC Partners at a Brainstorming session

1.6 COMMITMENT
Our firm is committed to:
 excellent quality and timely delivery of our service.
 conscientious maintenance and improvement of our place in the profession.
 contribution to the development of our community and profession in manpower
development, technical expertise, meaningful and stable employment in a healthy
environment whilst simultaneously discharging our social responsibilities.
 dissemination of technical information towards regular communication to our
staff, clients and the public.
1.7 REGISTRATION WITH RELEVANT AUTHORITIES

Our firm is registered with the following authorities amongst others:
 The Institute of Chartered Accountants of Nigeria (ICAN)
 Public Practice Section of ICAN (PPS)
 Corporate Affairs Commission (CAC)
 Securities & Exchange Commission (SEC)
 Office of the Auditor-General of the Federation (AGF)
 Office of the Accountant-General of the Federation (AGF)
 Some Offices of the Auditor-General of the States
 Chartered Institute of Taxation of Nigeria (CITN)
 Bureau of Public Enterprises (BPE)
 PrimeGlobal global network of accounting and consulting firms
 Financial Reporting Council Of Nigeria (FRCN) - Partners
1.8 AVAILABILITY OF APPROPRIATE SKILLS

We have adequate manpower that can handle any assignment in the following categories:

1.9 KEY DRIVERS OF OUR PRACTICE
PARTNERS OF BBC PROFESSIONALS (Chartered Accountants)
11 22
33 44
1. J O Obogwu - Managing Partner
2. E U Itodo - Deputy Managing Partner
3. A M Adetuyi - Partner
4. G C Egwuenu (Mrs.) - Partner

1.9 KEY DRIVERS OF OUR PRACTICE (cont’d)
BBC PROFESSIONALS (Chartered Accountants) (Formerly Balogun Badejo &

Co) is well known for Efficiency, Integrity and Professionalism when it comes to the
practice and dealing with our clients. We take pride in the competence and experience of the
partners who drive the firm. We present a brief profile of our Partners.
(1)
JAMES O. OBOGWU
Chairman/Managing Partner
He attended St Paul’s Grammar School, Ebu and University of Benin, Benin City, where he
bagged a Master in Business Administration (MBA). Employed as a Trainee and rose
through the ranks to become a Partner on 1 April 2005. JOO became the firm’s Managing
Partner on 1 April, 2013.
Mr. Obogwu is a Fellow of both the Institute of Chartered Accountants of Nigeria and the
Chartered Institute of Taxation of Nigeria.
JOO as he is fondly called was the firm’s Deputy Managing Partner up to 31 March, 2013. He
is the Editor-In-Chief of our in-house journal, TICK Magazine.
He is currently:
- A Practice Monitoring Reviewer of the Institute of Chartered Accountants of Nigeria

(ICAN)
- IFRS Paper Presenter.
- A member of Practice Monitoring Committee of the Chartered Institute of Taxation of
Nigeria (CITN)
- A member of Taxation Standard Board of the Chartered Institute of Taxation of Nigeria
(CITN)
- Chairman of the Editorial Committee of the Taxation Standard Board of the Chartered
Institute of Taxation of Nigeria (CITN).
- A member of Professional Practice Monitoring Committee of The Institute of Chartered
Accountants of Nigeria (ICAN).

(2)
EVERESTUS U. ITODO
Deputy Managing Partner
Everest, as he is popularly called by friends hails from Amalla in Udenu LGA of Enugu state
of Nigeria. He attended Ifruoka Primary School Amalla–Udenu LGA in Enugu State,
Government Day Secondary School Kakuri, Kaduna and St. Theresas’ College, Nsukka.
He obtained B.Sc. in Applied Accounting from Oxford Brookes University, UK and Master of
Science in Management (M.Sc. Management) from University of Lagos, Akoka, Nigeria.
EUI is a Fellow of The Institute of Chartered Accountants of Nigeria (ICAN), and

Association of Chartered Certified Accountants (ACCA), UK. He is also an Associate
member of the Chartered Institute of Taxation of Nigeria (CITN).
Before joining the firm in January 2006, he had worked with Mu’Allahyidi & Co, (Chartered
Accountants), Supertex Limited, and Union Adhesive & Chemical Company Limited, all in
Kaduna. He rose to the position of Audit Manager in the firm on 1 April, 2008, was admitted
a Partner on the 40th Anniversary of the firm on 1 April, 2009 and became the firm’s Deputy
Managing Partner on 1 April, 2013.
He is currently:
 The Finance Partner of the Firm;
 Chairman of the Firm’s Technical, Research and Training Committee; and
 A Practice Monitoring Reviewer of the Institute of Chartered Accountants of Nigeria
(ICAN).

(3)
AYODELE M. ADETUYI
Partner
Mr. Adetuyi attended Egan High School Ojo, Lagos and Olabisi Onabanjo University, Ago
Iwoye, Ogun State. AMA obtained Master in Business Administration (MBA, Finance) from
University of Lagos, Akoka, Nigeria.
He is a Fellow of The Institute of Chartered Accountants of Nigeria (ICAN) and an Associate

of The Chartered Institute of Taxation of Nigeria (CITN).
Before joining BBc in 2006, he had worked with A A Consultants; Royal Value International
Limited and Oladeji Olagunju & Co (Chartered Accountants), where he rose to the position of
an Audit Manager.
Mr. Adetuyi also has the passion of impacting knowledge, and currently serves as Director of
Studies at Foresight Professional Institute, Lagos, an ICAN Study Centre. He is a member of
Ikoyi Club.
AMA who was admitted a Partner on 1 October, 2010 is currently the Tax Partner, IFRS
Paper Presenter and Chairman of the firm’s International Financial Reporting Standard
(IFRS) implementation Team.

(4)
GLORIA C. EGWUENU (Mrs)

Partner
Mrs. Egwuenu attended Ibru College Agbarha Otor, Delta State and Edo State University,
Ekpoma, Edo State, where she studied Accountancy. Also, she studied at University of Lagos,
Akoka where she obtained Master of Science in Management (M.Sc. Management).
Mrs. Egwuenu who is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) is
an IFRS Paper Presenter and the Vice Chairman of the firm’s IFRS implementation team.
She had worked with Omega Bank Plc (now Enterprise Bank Limited), Shonubi Abah & CO
(Chartered Accountants) and Bytex Nigeria Limited before joining Balogun Badejo & Co.
GCE as she is popularly called became a partner in the firm on 1 April, 2011 and she is
currently the Administrative Partner.

1.10 PARTNERS AND SENIOR TECHNICAL STAFF
1.10.1 Partners: {full time - 4}
NAME QUALIFICATIONS EXPERIENCE

1. J O Obogwu MBA, FCA, FCTI 30 years
2. E U Itodo B.Sc., M.Sc. FCCA, FCA, ACTI 24 years
3. A M Adetuyi B.Sc., MBA, FCA, ACTI 20 years
4. G C Egwuenu (Mrs.) B.Sc., M.Sc., FCA 20 years
1.10.2 Consultants: [Part time]

1. P. O. Oluwi FCCA, FCA, FCTI, 42 years
2. Dr. J O Asaolu FCA, FCTI, MNIM, Ph.D 41 years
3. M O Oladotun FCCA, FCA, FCTI, FCIPM, FWAIMC 41 years
4. F C Obi FCA, ACTI 36 years
1.10.3Senior Technical staff:

1. O O Agbeje HND, ACA 13 years
2. C M Ugwu (Mrs) B.Sc., ACA 9 years
3. C I Onah HND, ACA 12 years
4. O M Lesi B.Sc., ACA 8 years
5. F O Ogunwale HND, ACA 8 years
6. I E Ihejirika HND, ACA 5 years
7. V O Opajobi (Miss) B.Ed., ACS 17 years
8. O F Moyegun B. Agric, PDCA 18 years
9. K O Fashina (Mrs.) LL.M, LL.B, BL, ACS 7 years
1.11 QUALIFYING SENIORS AND TRAINEES

At varying degrees of qualification and experience – over 40 in number.

2.0 OUR OFFICES AND CONTACT INFORMATION
2.1 OFFICES IN NIGERIA

Our firm has offices in the following locations in Nigeria:
Abuja Ibadan
Akure Kaduna
Benin City LAGOS - Headquarters
2.2 OUR CONTACT OFFICES AND OFFICERS
Headquarters - Lagos
Charter House
7 McNeil Road
Sabo, Yaba
Lagos
G P O Box 3260, Lagos
Tel: +234 (0) 8112731722
Website: www.bbccharter.com
Email: bbccharter@yahoo.com and bbc@bbccharter.com
Headquarters contact officers:
Name Designation GSM Email
J O Obogwu Managing Partner 08023139061 obogwu@bbccharter.com
joobogwu@yahoo.com
E U Itodo Deputy Managing Partner 08036165079 euitodo@bbccharter.com

euitodo@yahoo.com
Abuja office
Suit 24 Dee Awwal Plaza
2nd Floor, Plot 2044, Michael Okpara Street
P O Box 8601
Wuse, Zone 5, Abuja
Abuja office contact officers:

Name Designation GSM Email
C I Onah Senior 08063166927 chris.ibe65@yahoo.com
3.0 EXPERIENCES AND SIMILAR ASSIGNMENTS

We have relevant cognate experience and a strong record of value-added service to our
esteemed clients which we have been doing for over four (4) decades of our existence.
3.1 SIMILAR ASSIGNMENTS

Some of the Audit & Assurance Work that we carried out or currently engaged in which
are similar to the proposed assignment are as stated below:
 National Malaria Elimination Programme (NMEP) - Federal Ministry

Of Health
 National Agency on the Control of AIDS (NACA ) Global Council
 United Nations Development Program (UNDP) – Various
 Africare Nigeria
 United Nations Population Council (UNFPA) – Various
 NACA Federal Government of Nigeria
 South South Healthcare Delivery Programme – G.77
 Architect Registration Council of Nigeria (ARCON)
 Nigeria Social Insurance Trust Council (NSITF)
 Tax Board (JTB)
 West African Examination Council (WAEC)
 Tax Appeal Tribunal (TAT)
 Obafemi Awolowo University (OAU)
 Pipelines and Products Marketing Company Limited,
 Centre for Management Development (CMD)
 Redeemer’s University (RUN)
 AIESEC Nigeria
 Forestry Research Institute of Nigeria, Ibadan (FRIN)
 Cocoa Research Institute of Nigeria, Ibadan (CRIN)
 Federal Airports Authority of Nigeria,
 News Agency of Nigeria
 Federal Inland Revenue Service (FIRS)
 National Cereals Research Institute (NCRI)
 National Horticultural Research Institute (NHRI)
 World Bank Assisted Projects - Loan 2620 - UNI – Lagos State
 World Bank Assisted Projects - Loan IBRD 2760 - UNI - Ogun State
3.2 INTERNATIONAL FINANCIAL REPORTING STANDARD (IFRS)

Even though IFRS took off effectively in Nigeria from 2012 in line with the Roadmap, we have
acquired skills and exposures prior to the effective date knowing full well our client base
which cuts across virtually every sector of the economy. Our joint assignments with our
Global Partners really added value to BBC Professionals coupled with Foreign Trainings
attended by our representatives.
We have been privileged to render various services in IFRS viz: Public Trainings; Financial
Statements Reviews; Conversions and full Implementations amongst others. Some of the
clients’ serviced by our Firm on IFRS related assignments are listed below:
 Equity Assurance Plc

 Honeywell Flour Mills Plc
 IPWA Plc
 Man Mountain & Company Limited
 Obafemi Awolowo University (OAU), Ile – Ife
 Greenwich Trust Limited
 Academy Press Buz Forms Ltd
 Bells University, Otta
 Thomas Wyatt Nigeria Plc
 Grange Schools
 Coates Brothers Limited
 Eldorado Construction Co. Limited
Some BBC Partners in a group photograph with our Foreign Partner

after an IFRS Training organized by the Firm in Collaboration with
LDP (South Africa) – a member of PrimeGlobal at Lagos Airport
Hotel, Ikeja - Lagos

3.3 OTHER ASSIGNMENTS - GENERAL
Some Other assignments carried out by the firm in recent past are
listed below:
AUDIT AND ASSURANCE SERVICES INTERNATIONAL FINANCIAL REPORTING

STANDARD (IFRS)
 United Nations Development Programme (UNDP) –  Equity Assurance Plc
Various audit engagements
 Equity Assurance Plc
 IPWA Plc
 Thomas Wyatt (Nigeria) Plc
 Man Mountain & Company Limited
 Obafemi Awolowo University (OAU), Ile – Ife
 IPWA Plc
 Greenwich Trust Limited
 Pipelines & Products Marketing Company Limited
(PPMC)  Academy Press Buz Forms Ltd
 NEM Insurance Plc  Bells University, Otta
 Bowen Micro Finance Bank  Thomas Wyatt Nigeria Plc
 Grange Schools  Grange Schools
 Man Mountain & Company Limited  Coates Brothers Limited
 Greenwich Trust Limited  Eldorado Construction Co. Limited
 Mission Securities Limited  Several Public Training Courses and general Advisory.
 Honeywell Superfine Foods Limited RECEIVERSHIP, LIQUIDATIONS AND

DUE DILIGENCE
 Calyx Trust Limited  AIICO Insurance Plc
 Resort Securities & Trust Ltd  Afolabi Dinehin & Sons Limited
 Tax Appeal Tribunal  Nfi Insurance Plc
 Falcon Petroleum Limited  Jonnic Communications (WA) Limited
 Electronic Payplus Limited  NITEL/MTEL

 Spectrum Books Limited
 Allport Cargo (W.A) Limited
 Credite Bank Nigeria Limited (Closing Activities)
 Coates Brothers (WA) Limited
 Kainji Textiles Limited
 Metal Furniture Nigeria Limited
 Mercantile Press Limited
 Metec (W.A.) Nigeria Limited
 Oluyori Bottling Ind. {Nigeria} Limited
 NACA Global Council
 Penguin Dairies Limited
 Nigerian Foundries Limited
 Max & Kelly Nigeria Limited
 Metro-Urban Homes Limited
 Unit Six Agric Industry Limited
 Federal Radio Corporation of Nigeria (FRCN)
TAXATION SERVICES
 National Broadcasting Commission (NBC)
 Pipelines & Products Marketing Company Limited (PPMC)
 News Agency of Nigeria (NAN)
 NEM Insurance Plc
 Nigerian Television Authority (NTA)
 Bowen Micro Finance Bank
 Prime Publications Limited
 OAS Helicopters
 The Daily Times of Nigeria Plc - NSE Quoted
 Electronic Payplus Limited

 Life Press Limited  Allport Cargo (W.A) Limited
 United Nations Population Council (UNFPA)  Coates Brothers (WA) Limited
 Metal Furniture Nigeria Limited
 Nigeria Social Insurance Trust Council (NSITF)  Metec (W.A.) Nigeria Limited
 Nigerian Foundries Limited
 Enertek Bendix Limited
 Several others
4.0 OUR UNDERSTANDING OF THE ASSIGNMENT

4.1 Introduction
Medical Laboratory Science Council of Nigeria (MLSCN) intends to engage the services of
consultants who have highly specialized knowledge and extensive experience on Independent
External Audit Consultancy Service to be engaged as its external auditors and we are hereby
expressing our interest for appointment as External Auditors to the Council.
4.2 Brief About MLSCN

The Medical Laboratory Science Council of Nigeria (MLSCN) is a Federal Government
Statutory Regulatory Agency established by Act 11 of 2003 as a parastatal of the Federal
Ministry of Health. It also broadly charged the Council with the core responsibilities of
regulating medical laboratory services through registration and licensing of medical
laboratories as well as practitioners, mandatory inspection, mentoring for quality
improvement, accreditation, monitoring and evaluation as well as certification of laboratory
test kits and reagents. Furthermore, the Act empowers the Council to regulate the training of
medical laboratory scientists, technicians and assistants.
With the benefit of hindsight, stakeholders in the field of medical laboratory services agree
that, by enacting the MLSCN Act No.11, the Government proved to be alert to its environment
and sensitive to the yearnings and aspirations of the Nigerian public most of whom had been
calling for fresh statutory instruments and, therefore, greater impetus towards rejuvenating
as well as regulating the sector. This, the stakeholders believe, would enable the sector to
deliver on its mandate- regulation for quality medical laboratory services that are both fit for
purpose and also in line with global best practices.
Indeed, before Act 11 of 2003 came on board and led the way for the recrudescence of medical
laboratory services, practice and education in the country, the sector was groaning under the
full weight of quacks who, quite astonishingly, felt that such a regulated sector, which is the
backbone of modern healthcare, was equally an all-comers business besides the menace of

fake laboratory test kits, reagents as well as chemicals. Thus there was palpable outrage
among the people that rogue elements could, without any form of training and in total
disregard for the sanctity of human life, open and operate backroom shacks devoid of basic
equipment, and without any modicum of expertise, and call them medical laboratories.
VISION
To be a world acclaimed regulatory agency driving the culture of quality and efficient health
laboratory care to the public and ensuring high academic standards in training institutions.
MISSION
Strengthening health laboratory systems and professional practice for quality services
through strategic regulations and accreditation.
THRUST
To stem the efflux of Nigerians for quality healthcare abroad with attendant huge capital
flight by driving the culture of quality and efficient Health Laboratory Care to the public as
empirical data has shown that over 75% of indices required for effective medical diagnosis
and treatment monitoring are based on medical laboratory tests results.
CORE VALUES
 Integrity
 Commitment
 Professionalism
 Excellence
 Efficiency
 Team work
4.3 Need for audit of financial statements

The need for stewardship, accountability, compliance with the statutory provisions and good
corporate governance of any organization has made the audit of its financial statements very
necessary. Hence the statutory audit has become a credible process by which professional
accountants look at what has transpired in an organization within a specified period and issue
an audit opinion as to the true and fair view of the entity’s financial statements.
There is also the need for the audit exercises to be conducted timely within an agreed period
and/or at regular intervals or else, it will not be useful in serving the intended purpose. In
doing this, the confidence of the stakeholders in the programmes and projects will be greatly
enhanced.
In line with the above, our firm – BBC PROFESSIONALS [Chartered Accountants] hereby
forward its application to be considered for appointment as external auditors to your Council.
Having been in existence for over forty eight (48) years in rendering similar services to
numerous clients, we want to be part of the Council’s Project of Transformation,
Transparency and Accountability.

4.4 Our duties as external auditors
Our duties shall include but not limited to:
Critical review of internal control processes and procedures with a view to ascertaining
the existence, adequacy and compliance of the system in the Council;
Carrying out the audit of the Book of Accounts and expressing our opinion as to the
true and fairness of the financial statements;
Issuing our reports at the end of the audit exercise which shall include the audited
financial statements and management control report (Management Letter);
Bringing to the knowledge of the Council and Management all observed weaknesses in
the internal control systems and operations generally; and making recommendations
for improvements.
Following up all previous recommendations in order to ensure that the issues raised
are implemented accordingly and rendering assistance where necessary.

5.0 BRIEF METHODOLOGY PROPOSED FOR
PERFORMING THE AUDIT SSIGNMENT
5.1 SUMMARY OF STAGES:
In summary, our job when appointed as external auditors to MLSCN is as illustrated below:

5.2 PRELIMINARIES:
Upon our appointment as External Auditors to the Organization, we shall carry out the
following:
 Forward our Letter of Acceptance signifying our acceptance of the appointment.
 Issue Letter of Engagement which shall spell out the terms of engagement taking into
cognizance the terms with the continuing auditors.
 Obtain name and address of the former auditors in order to communicate and obtain
professional advice with regards to client acceptance procedures in line with ICAN and
IFAC guidelines.
 Hold meetings with the members of the Board (if necessary).
 Hold meetings with the Management Team along with the auditors to discuss issues
concerning the audit.
 Issue Audit Planning Memorandum.
Consequently, we shall obtain necessary background information and documentations for the
purpose of the audit.
Such background information and documentations shall include but not limited to:
1. The Council’s Profile which will contain amongst others: History, Establishment, Head
Office, Other Offices, Board, Governing Council, Top Management Staff, etc.
2. Act establishing the Council.
3. Names and addresses of Former Auditors, Legal Advisers, Secretary and other
professional Advisers.
4. Audited Financial Statements for the last three years.
5. Management control report for the last three years.
6. List of Bankers, Name of Account, Account Numbers and addresses of the Bank.
7. Trial balance for the financial year (for audit purpose).
8. Management accounts.
9. Systems process flow chart.
10. Cash books (for all banks, cash and petty cash).
11. Bank reconciliation statements files for all the banks, cash and petty cash.
12. Bank statements for the first quarter of the next financial year.
13. Authorization limits for cheques, purchases, contracts etc.
14. Specimen signatures of Authorizing officers and signatories to the banks.
15. Schedule of Fixed assets (including additions, on-going projects, re-classifications,
revaluations & disposals).
16. Debtors/creditors schedules and their addresses.
17. Age-analysis of debtors and creditors including details of bad debt provisions (if any).
18. Other balance sheet and income statement schedules.

19. Income summary (classified into types, locations etc).
20.List of accredited suppliers and nature of supplies (both foreign and local).
5.2 PRELIMINARIES: (Cont’d)
21. Stock taking report (including stock sheets, valuation of closing stocks & exception
report).
22. Internal auditor’s reports.
23. Council’s review of processes for risks, internal control and compliance.
24. Governance information and Council’s strategic focus/plans.
25. Organizational chart.
26. List of management staff and their designation.
27. List of staff.
28.Staff payroll.
29. Staff loans and advances register/ledger.
30.List of related third parties and nature of relationships.
31. Transactions carried out with related parties.
32. Major contracts and contractual agreements.
33. Schedule of contingent liabilities.
34. Details of litigations and impact on the Council.
35. Annual budgets (including capital expenditure budget).
36. Payment vouchers (samples required).
37. Journal vouchers (samples required).
38.Receipts & Invoices (samples required).
The above are expected to be obtained before or during the commencement of the
assignment after which such information will be discussed with the personnel to be
engaged in the assignment in order to:
 acquaint professional staff with the background information of the Council;

 brief the personnel on the core functions of the Council;
 be well informed on the strategy to be adopted to ensure that the audit
objectives and timetable are borne in mind while carrying out the audit assignment;
 design appropriate Audit Programme;
 brief the team members as to the requirements, timing and explanation of
work programme; and
 ensure that the audit is carried out efficiently and effectively in accordance
with all relevant local, regional and international standards on auditing.

5.3 WORK PLAN AND METHODOLOGY
General procedures
We shall carry out pre-audit meeting/visits in order to clearly understand the
organizational structure in place, the relationship with other Professional Bodies,
other Foreign and Local Establishments. This will enable us to know the structure in
place and plan our staff strength and mix for the audit field work.
Even if the financial records are kept in the Head office, we shall also visit other
Branches (if any) to carry out tests and verifications in order to satisfy our audit
procedures and ensure that the evidences gathered are enough to support our audit
opinion.
Audit Programme and other procedures designed for the assignment

would be shared amongst the team members as worksheet to be guided by
the Engagement Partner with a view to ascertaining:
 the existence of internal control systems;
 adequacy and reliability of internal control system;
 whether the Council has internal audit in place, their effectiveness and extent of
reliance to be placed on its work;
 the Council’s main source of revenue;
 other sources of income available for the Council;
 expenditures made and expenditure pattern;
 recording, presentation and disclosure of transactions in the financial statements;
 that incomes and expenditure have been treated accordingly and also with a view to
identifying:
i) adequacy of accounting and internal control system;
ii) whether all incomes recorded were properly treated in the financial
statements;
iii) adequate monitoring of expenditure and their validity;
iv) that expenditures are eligible and duly authorized; and
v) any ineligible expenditure and in-adequacies in record keeping for inclusion
in our management control report.
We shall carryout third party confirmations as part of our audit evidence which shall
support our audit opinion. Using the addresses of the professionals collected, we shall:
 write the Legal Advisers with a view to obtaining first hand information on
litigations involving the Council. This will assist us in knowing the extent of the
Organization’s exposure to other parties and also enable us to indicate same in the
contingent liabilities as note to the audited financial statements;
 send circularization letters to all the Council’s Bankers to confirm the account
balances as at the end of the year or period as the case may be;
 circularize the Debtors at the year/period end in other to obtain evidences to
corroborate the records of the Organization and this will form part of our audit
evidences;

 also circularize the Council’s Creditors for the same purpose of obtaining audit
evidences to support our opinion.
5.3 WORK PLAN AND METHODOLOGY (Cont’d)
Financial statements
For the financial statements, we shall review and ensure that:

 the accounting policies adopted for the preparation of the Council’s financial
statements exists and are adequate;
 the assets of the Council are complete, in existence, accurately recorded and
presented;
 fixed or movable assets acquired are duly authorized and the processes of
acquisition in line with the laid down procedures;
 the fixed assets register are updated to show date of acquisition/valuation location,
cost/valuation, custody, safety, usability, adequacy of insurance amongst others;
 all other assets of the Council such as Investments and investment properties,
Stocks, Debtors amongst others are properly presented and disclosed in the
financial statements;
 the liabilities of are completely stated and corresponding benefits had been enjoyed
(value for money);
 bank reconciliation statements are prepared for all bank accounts on monthly
basis; and
 all necessary supporting documents, records and accounts are kept in respect of all
Council’s activities.
During the cause of the field work, separate files shall be maintained by each team
member to whom sectional allocation of work is assigned. A review of those files shall be
carried out by the Audit Manager/Engagement Partner while on the field.
The exercise would lead to obtaining reliable, relevant and sufficient audit evidence about
the existence, ownership and value of the assets and also ensure that all debtors, creditors
and accrued expenses are recognized.
Towards the conclusion of the audit field work, the Engagement Partner and Authorized
Official of the Council and the Head of the Accounting/Finance Department are expected
to discuss issues arising during the audit such as findings, observations and comments at
an exit meeting. Some of the issues will form part of the management control report.
A thorough review of the Audit working papers file compiled by the Auditor in-charge
would be carried out by the Audit Manager and Engagement Partner while the Concurrent
Review Partner will carry out the final review of the files, draft audited financial statements
and management control report.

5.4 PROCESS OVERVIEW AND QUALITY ASSURANCE
Process overview and quality assurance obtainable in BBC is better experienced than
explained. Our process starts by planning the audit assignment. The plan sets out clearly
what Audit objectives we intend to achieve and at what time frame.
In summary, the process is displayed in Risk and Quality Assurance Flow

Chart stated below:
4. POST ASSIGNMENT 1. PRE-COMMENCEMENT

-Reports & recommendations to Mgt. - Briefings from the Supervising Partner
-Discussion of issues raised during the - Completion of Ethics and
assignment Independence documentations
-Identification of key officers that has - Review of Business environment that
responsibility for mitigating risks Client operates
-Follow up of issues raised and progress -Assessment of likely Market and
made to improve the Mgt Processes business risks
2. FIELD WORK
3. HOME OFFICE
-Review of Client Systems, Processes
-Work done by staff passed to the
and Procedures
Supervisor for review
-Review of Business and market risks
-Manager and Engagement Partner shall
-Evaluation of the impact of Transactions
review the Files and Reports
with related parties and others
-Files and Reports shall be passed to the
-Review of Going-concern assumptions
quality control department for final
made by Mgt
review
Although the Supervising Partner will be in-charge of the audit, we have a quality
assurance department headed by a Senior Partner, where all plans and jobs go through to
ensure completeness, accuracy and compliance with the relevant local and international
standards, laws and regulations.
In effect, our reports and other deliverables shall pass through the department before we
issue the draft reports to the Client.

5.5 Final reports
Having carried out the audit field work and various stages of review, we shall issue the
draft financial statements and management control report alongside with outstanding
issues (if any). The management control report shall contain details of our review, issues
observed, consequences of lapses and recommendations.
We shall hold further meetings with the top management, finance committee (if
applicable) and Council members to discuss the draft financial statements and
management control report.
After necessary consideration and approvals of the financial reports by all concerned, we
shall issue the final audited financial statements and management control report to the
Council.
5.6 Conclusion
We recognize that all methodologies to be adopted in carrying out the audit may not have
been spelt out fully in this proposal while other approaches and methodology will be
contingent on-the-job and situations that may arise during the field work.
The above is therefore the summary of what we intend to do if appointed as external

auditors to Medical Laboratory Science Council of Nigeria (MLSCN).

6.0 RESUME OF BBC PROFESSIONALS PARTNERS
The Resume of our partners is presented below:
Chairman/Managing Partner
Position:
Name of Firm: BBC PROFESSIONALS
James Ofoma OBOGWU

Name of Staff:
Accountancy/Auditing
Profession:
13 July, 1968
Date of Birth:
Experience: 28 Years Nationality: Nigerian
Education:
School Date Qualification
University of Benin, Benin City 1999 – 2001 MBA (Business Administration)
St. Paul Grammar School, Ebu 1982 – 1987 WAEC/GCE O’Level
Professional qualifications:
Institute of Chartered Accountants of Nigeria (ICAN) - FCA
Chartered Institute of Taxation of Nigeria (CITN) - FCTI
Employment Record:
Company Period Position
BBC Professionals 1 April 2013 – date Managing Partner
BBC Professionals 1 April ‘12 to 31 March,‘13 Deputy Managing Partner
BBC Professionals 2005 to 31 March, 2012 Partner
BBC Professionals 2001 to 2004 Audit Manager
BBC Professionals 1997 to 2001 Audit Senior
BBC Professionals 1986 to 1997 Audit Trainee
Languages (Written and Spoken):

Igbo - Excellent
English - Excellent

RESUME OF BBC PROFESSIONALS PARTNERS
Deputy Managing Partner

Position:
BBC PROFESSIONALS
Name of Firm:
Everestus Uche ITODO
Name of Staff:
Accountancy/Auditing
Profession:
15 December, 1973
Date of Birth:
Education:
University of Lagos, Akoka 2011 M.Sc. (Management)
Oxford Brookes University, Oxford, UK 2009 B.Sc. Applied Accounting
Skolak Resources Information Tech. Centre 1999 Cert. Data Processing
St. Theresa’s College, Nsukka 1992 Senior Sec. School Cert.
Ifrouka Primary School, Amalla 1986 First School Leaving Cert.
Chartered Institute of Taxation of Nigeria (CITN) - ACTI
Association of Chartered Certified Accountants (ACCA), UK - FCCA
Employment Record:
BBC Professionals 1 April ‘13 – date Deputy Managing Partner
BBC Professionals April ‘09 to 31 Mar, ‘13 Partner
BBC Professionals 2006 to 2009 Manager, Supervisor,
Audit Senior
Mu’allahyidi & Co, Kaduna 2003 to 2006 Assist. Audit Mgr, Senior
Supertex Limited, Kaduna 1995 to 2003 Shift Section Controller
Union Adhesive & Chem. Co Ltd. 1993 to 1995 Administrative Clerk

English & Igbo - Excellent
Hausa - Fair

Partner
Position:
BBC PROFESSIONALS
Name of Firm:
Ayodele Morounkeji ADETUYI
Name of Staff:
Accountancy/Taxation
Profession:
14 September, 1975
Date of Birth:
Education:
University of Liverpool, UK 2o12 – Date International Fin. Reporting (Inview)
University of Lagos, Akoka 2011 MBA (Finance)
Olabisi Onabanjo University 2006 B.Sc. (Banking & Finance)
Business Solution Limited 1999 Cert. Data Processing
Egan High School, Ojo, Lagos 1993 Senior Sec. School Cert.
St Dominic Catholic Primary School 1987 First School Leaving Cert.
Chartered Institute of Taxation of Nigeria (CITN) - ACTI
Employment Record:
BBC Professionals Oct. 2010 to date Partner
BBC Professionals 2003 to Sept, 2010 Audit Senior, Supervisor,
Senior Tax/Audit Manager
Oladeji Olagunju & Co 2001 to 2003 Tax/Audit Manager
Royal Value Int’l Limited 2000 to 2001 Accountant
Oladeji Olagunju & Co 1998 – 2000 Audit/Account Trainee
A A Consultant 1997 – 1998 Admin Officer

English - Excellent
Yoruba - Excellent

Partner
Position:
BBC PROFESSIONALS
Name of Firm:
Gloria Chineku EGWUENU (Mrs.)
Name of Staff:
Accountancy/Taxation
Profession:
21 May, 1973
Date of Birth:
Education:
University of Lagos, Akoka 2012 M.Sc. (Management)
Tenderfem Computer Ltd. Osogbo, Osun State 1996 Diploma Computer Studies
Edo State University, Ekpoma, Edo State 1995 B.Sc. Accounting
Ibru college, Agbarha Otor, Delta State 1987 West African School Cert.
Abbi girls Sec. Sch., Abbi, Delta state 1984 “ “ “
Professional qualification:
Employment Record:
BBC Professionals April 2011 to date Partner
BBC Professionals 2004 to 2011 Manager, Supervisor, Senior
Bytex Nigeria Ltd 2004 to 2006 Accountant
Shonubi Abah & Co 1999 to 2004 Auditor
Omega Bank Plc 1998 to 1999 Business Dev. Officer
(Now Enterprise Bank Limited)
Good shepherd High School 1997 to 1998 Class Teacher
The Accountant general’s Office 1995 to 1996 Accounting Officer
Oshogbo Osun State (NYSC)

English - Excellent
Igbo - Fair
7.0 DOCUMENTS ATTACHED

The following documents are attached to this proposal:
 Certificate of Registration with Corporate Affairs Commission
(CAC)
 Evidence of Registration with the Office of the Auditor General
for the Federation
 Evidence of Company Current Tax Clearance Certificates for the
last 3 years (2014 – 2016)
 Copy of Valid PENCOM compliance Certificate as evidence of
compliance with the relevant provision of Pension Reform Act
2004
 Copy of Interim Registration Report from Bureau of Public
Procurement (BPP) as evidence of registration as a Contractor on
the Bureau Database
 Evidence of ITF Certificate in Compliance with Industrial Training
Act
 Copy of Nigeria Social Insurance Trust Fund (NSITF) compliance
Certificate
 Comprehensive Company Profile with documentary
evidence of similar jobs successfully executed within
the last 5 years
 Evidence of Payment of N20,000 Fee

Certificate of Registration
with Corporate Affairs
Commission (CAC)

Evidence Registration with
Auditor General for the
Federation

Evidence of Company Current
Tax Clearance Certificates for
the last 3 years
(2014 – 2016)

Copy of Valid PENCOM compliance
Certificate as evidence of compliance
with the relevant provision of Pension
Reform Act 2004
And
Evidences of Pension Remittances

Copy of Interim Registration Report
from Bureau of Public Procurement
(BPP) as evidence of registration as a
Contractor on the Bureau Database

Evidence of ITF Certificate in
Compliance with Industrial Training
Act

Copy of Nigeria Social Insurance
Trust Fund (NSITF) compliance
Certificate

Comprehensive Company Profile with
documentary evidence of similar
jobs successfully executed within the
last 5 years
(Company Profile – Please Pages 2
-11 & 25 – 28)

Evidence of Payment of N20,000
Tender Fee

TECHNICAL
The Acting Registrar/Chief Executive Officer

Medical Laboratory Science Council of Nigeria
Plot 1166, Muhammad N. Umar Lane,
Durumi Phase II,
Garki,
Abuja
FINANCIAL
LOT 4
EXPRESSION OF INTEREST FOR AUDIT JOB

MLSCN Technical Proposal

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EXPRESSION OF INTEREST FOR

MEDICAL LABORATORY SCIENCE COUNCIL

Expression for Engagement as External Auditors to MLSCN – By BBC PROFESSIONALS Page 0

1.0 Brief introduction of our firm 3

2.0 Our Offices and Contact Information 11

3.0 Experiences and similar assignments 12

4.0 Our understanding of the assignment 15

5.0 Brief Methodology proposed for

6.0 Resume of BBC Professionals Partners 25

7.0 Documents attached 29 - 49

Expression for Engagement as External Auditors to MLSCN – By BBC PROFESSIONALS Page 1

1.2 CHANGE OF NAME

1.3 INTERNATIONAL AFFILIATION

The World Headquarters of PrimeGlobal is located at:

9200 South Dadeland Boulevard

Expression for Engagement as External Auditors to MLSCN – By BBC PROFESSIONALS Page 2

1.5 TEAM SPIRIT

BBC Partners at a Brainstorming session

Expression for Engagement as External Auditors to MLSCN – By BBC PROFESSIONALS Page 3

1.7 REGISTRATION WITH RELEVANT AUTHORITIES

1.8 AVAILABILITY OF APPROPRIATE SKILLS

Expression for Engagement as External Auditors to MLSCN – By BBC PROFESSIONALS Page 4

PARTNERS OF BBC PROFESSIONALS (Chartered Accountants)

1. J O Obogwu - Managing Partner

2. E U Itodo - Deputy Managing Partner

4. G C Egwuenu (Mrs.) - Partner

Expression for Engagement as External Auditors to MLSCN – By BBC PROFESSIONALS Page 5

BBC PROFESSIONALS (Chartered Accountants) (Formerly Balogun Badejo &

- A Practice Monitoring Reviewer of the Institute of Chartered Accountants of Nigeria

Expression for Engagement as External Auditors to MLSCN – By BBC PROFESSIONALS Page 6

EUI is a Fellow of The Institute of Chartered Accountants of Nigeria (ICAN), and

Expression for Engagement as External Auditors to MLSCN – By BBC PROFESSIONALS Page 7

He is a Fellow of The Institute of Chartered Accountants of Nigeria (ICAN) and an Associate

Expression for Engagement as External Auditors to MLSCN – By BBC PROFESSIONALS Page 8

GLORIA C. EGWUENU (Mrs)

Expression for Engagement as External Auditors to MLSCN – By BBC PROFESSIONALS Page 9

1.10.1 Partners: {full time - 4}

NAME QUALIFICATIONS EXPERIENCE

1.10.2 Consultants: [Part time]

1.10.3Senior Technical staff:

1.11 QUALIFYING SENIORS AND TRAINEES

Expression for Engagement as External Auditors to MLSCN – By BBC PROFESSIONALS Page 10

2.1 OFFICES IN NIGERIA

2.2 OUR CONTACT OFFICES AND OFFICERS

E U Itodo Deputy Managing Partner 08036165079 euitodo@bbccharter.com

Abuja office contact officers:

3.0 EXPERIENCES AND SIMILAR ASSIGNMENTS

Expression for Engagement as External Auditors to MLSCN – By BBC PROFESSIONALS Page 11

3.1 SIMILAR ASSIGNMENTS

 National Malaria Elimination Programme (NMEP) - Federal Ministry

3.2 INTERNATIONAL FINANCIAL REPORTING STANDARD (IFRS)

Expression for Engagement as External Auditors to MLSCN – By BBC PROFESSIONALS Page 12

 Equity Assurance Plc

Some BBC Partners in a group photograph with our Foreign Partner

Expression for Engagement as External Auditors to MLSCN – By BBC PROFESSIONALS Page 13

AUDIT AND ASSURANCE SERVICES INTERNATIONAL FINANCIAL REPORTING

 NEM Insurance Plc  Bells University, Otta

 Bowen Micro Finance Bank  Thomas Wyatt Nigeria Plc

 Grange Schools  Grange Schools

 Man Mountain & Company Limited  Coates Brothers Limited

 Greenwich Trust Limited  Eldorado Construction Co. Limited

 Honeywell Superfine Foods Limited RECEIVERSHIP, LIQUIDATIONS AND

 Tax Appeal Tribunal  Nfi Insurance Plc