FCTA To Audit Remittance Of Payroll Deductions - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (A.M)
July 26, 2023
Conducting the flag-off exercise in Abuja on Tuesday at the FCT Minister’s conference room, the FCT Permanent Secretary, Mr. Olusade Adesola disclosed that the auditing of the remittances of payroll deductions is in line with the FCTA’s objectives and commitment to ensure transparency, accountability and responsible financial management.
The remittance of statutory deductions to be audited, according to the Permanent Secretary, include taxes, pensions and insurance, while the non-statutory deductions fall under employee contributions to cooperative societies and various welfare programmes.
The audit exercise, according to Permanent Secretary is also being carried out to ensure that the Administrations obligations to third-party beneficiaries are met with utmost integrity.
The Permanent Secretary who noted that remittances of payroll deductions play pivotal roles in maintaining the welfare of the FCTA workforce, lamented that remittances for both statutory and non-statutory deductions from the payroll of workers since 2010 had faced some setbacks.
As a result, the FCT Administration, he said, found it expedient to engage an Audit Consultant, M/S G.E. Osagie and Co. to audit the payroll of the FCTA from 2010 to 2022 in order to establish the unremitted statutory and non-statutory deductions due as liabilities to third party beneficiaries.