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The Lagos State Internal Revenue Service has engaged 1,200 members of the Chartered Institute of Taxation of Nigeria and the Institute of Chartered Accountants of Nigeria as tax audit monitoring agents in order to ensure the maximisation of its revenue-generating potential and to commence the 2016 tax audit.

The tax audit monitoring agents, according to a statement by the LIRS, are authorised to act as agents of the service for tax audit and assurance purposes, adding that it had carried out a review of the appointment and operational procedure of the TAMAs in order to enhance efficiency of the audit.

 “Their duty will be to collect requisite information during tax audit field exercises, collate, prepare and submit tax audit reports based on the facts gathered for use by the LIRS,” the statement added.

The Executive Chairman, LIRS, Mr. Olufolarin Ogunsanwo, implored the TAMAs to demonstrate the highest level of professionalism.

 The revised tax audit manual, which highlights the systematic steps of auditing as well as ethical standards and codes in line with international best practices, was also formally presented at the forum.

 “The TAMAs at the training undoubtedly emerged to be the best in the stock of applications that we received. The selection process was quite painstaking and took into consideration a number of preconditions, professionalism and track records in the most vital areas,” the Board Secretary of the LIRS, Mr. Jimi Aina, said.

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