Lagos, Friday November 19, 2010: The Federal High Court Lagos in a judgment delivered in the case of MAZI OKECHUKWU UNEGBU v KPMG & GUINNESS, held that the Guinness Nigeria Plc Auditor’s Report signed by and as “KPMG” is incompetent, null and void not having been signed by an auditor as provided by law and that KPMG, being a firm of auditors is not an auditor as defined by and under the ICAN Act and therefore cannot “sign” a document required by law to be signed by an auditor. The Auditor’s Report/Financial Statement must be signed by, and bear the signature of, a named partner/auditor.

 

This judgment follows that of the Supreme Court of Nigeria in NWEKE v OKAFOR in 2007 declaring processes “signed” by or in the name of law firms null and void. 

 

 

Source: Proshare