“No unauthorized or irregular transactions were detected” – UISU Audit Committee Report Says

By Aduwo Ayodele

The Audit Committee of the University of Ibadan Students’ Union has confirmed that all sponsorship funds, as received by the Students’ Union leadership in the ongoing academic session, have accurately reflected in the bank statements of the Union.

A copy of the report obtained by IndyPress, jointly signed by the Chairman and Secretary of the Audit Committee, Hon. Olagunade Elizabeth and Hon. Egboche Iyanuoluwa respectively, noted that between ‘1st of August, 2023 till 27th of February, 2024, no discrepancies were found during the audit period’.

In its findings, the Committee explained that ‘all sponsorship transactions were approximately documented and well matched with bank records’.

The Committee also observed that ‘no unauthorized or irregular transactions were detected’, adding that ‘the Students’ Union’s financial records were well maintained and organized’.

Offering its ample recommendations, the Committee has however admonished the Students’ Union leadership to ‘continue diligent record keeping practices’, while ensuring that it regularly reconcile sponsorship records with bank statements.

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