The delay of the Nigerian oil and gas company Oando plc's judicial audit by the Securities and Exchange Commission, SEC, is caused by "payment to auditors and other logistical problems," PREMIUM TIMES has learned. A senior SEC official told PREMIUM TIMES on Tuesday that the regulator was working to open the audit after the holidays, in 2018. The source, who spoke under strict conditions of anonymity, also referred to some of the challenges faced by the organization in the area of logistics and payments to be made to external auditors. On December 5, the SEC informed Nigerians that the judicial audit of the company would begin as of the next day of notification. But PREMIUM TIMES reported Monday that two weeks after the announcement, the regulator had not started the audit yet . "You know they (external auditors) are from the private sector and this exercise also requires money." There may be some concerns about the payment because the auditors would...
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