i.The Commands could not confirm any form of collection made on their behalf by the collecting banks. The self-auto assessment window by NCS and direct online payments to the collection accounts in the collecting banks have made it largely necessary that Commands should obtain monthly statements of all the collection accounts in the collecting banks;
ii.The prepared schedules by the collecting banks were not enough evidence and confirmation of the actual collections for the commands. There was need for bank statement in addition to the monthly schedules of returns sent by the banks to the commands; to facilitate reconciliation, confirmations and tracking of revenue collection by the Commands;
iii.None of the commands had ever collected bank statements for the past years and has not prepared any bank reconciliation statements thereof. This made the revenue collections unconfirmed and therefore, audit could not express opinion on the veracity of Commands’ collections as reported on the platform; and
iv.If revenue figures cannot be traced to bank statements of participating banks, it will be difficult for audit to ascertain revenue figures collected and remitted. For instance, audit could not confirm the banks that were paid the sum of N188,355,799.67 as bank charges for the year 2017. This contravened the provisions of IPSAS as regarding disclosure of financial information.