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Pictures from the 3 Day External Audit Training course 2015

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10 African Business Opportunities That Will Create Millionaires in 2015

  Oil revenues? Nope, not for today’s fast emerging African entrepreneurs and millionaires! Are you wondering in which sectors you will find the most profitable business opportunities in Africa? Then this article is for you! Last year, there were several inspiring success stories of African entrepreneurs who ... Read More

Despite the Risks, Entrepreneurship Will always Beat a 9-5 Job…Do You Agree?

For the many individuals who have ever thought about starting their own business, chances are there was one thing that stopped them: the risks. Many people think about starting their own business only to be turned off by the projected risk, time ... Read More

What Makes Business Process Easier?

Everyone wants an easier and faster way of doing things for business tasks such as raising invoices, managing inventories and tracking expenses and banking reconciliation does not have to be tedious anymore. Here are a few reasons why business management solutions ... Read More

MS Excel is Good But an Accounting Software is Better

Why Excel isn’t a long term solution Excel can do a large number of tasks, is easily available and is very widely used in the world of business. And it would be wrong not to not acknowledge this up front. However, ... Read More

Have Respect for Risk

  Ensuring respect for risk Most executives understand the need for controls that alert them to trends and behaviors they should monitor, the better to mobilize in response to an evolving risk situation. And while managers are unlikely to approve of skirting the ... Read More

Even Small Businesses Need An Accounting Software

Why Your Business Needs An Accounting Software Research has shown that over 98 percent of Nigeria’s Micro and small scale businesses do not have formal or what we may call a standard book-keeping culture. While most of ... Read More

Solving Your Business Risks

    Businesses face a myriad of challenges that leave them vulnerable to many forms of risk, including regulatory, reputational and litigation, among others. Evolving legal and ethical obligations pose constant challenges to a business and often in-house counsel are on the front ... Read More

Demystifying the International Financial Reporting Standards.

IFRS Immersion Course For Accountants, Auditors & Finance Personnel This 3-Day IFRS immersion training has been designed to teach in-depth knowledge about IFRS with practical application examples.The training sessions will be led by subject-matter professionals with deep IFRS and Nigeria Statement of Accounting Standards experience. Attendance at this programme will provide the participants opportunity to discuss practical issues on application of IFRS and to ensure effective compliance with IFRS. Certificates will be awarded to all ... Read More

PML ADVISORY PARTNERS WITH E-TRENDS TECHNOLOGY INDIA

   Indian based accounting solution company, E-trends Technologies India has  signed a partnership deal with PML  advisory limited to provide solution to the  mounting challenges  of managing , controlling and reporting internal  audit  system that are confronting emerging and ... Read More

Pictures from the 3 Day External Audit Training course 2015

NOTIFICATION OF CHANGE OF PARTICULARS
When Do You Need to File a Notification?
Life and business move fast. You must notify the tax authorities if any of the
following occur:
For Individuals
Change of Name: Usually due to marriage or legal deed poll.
Change of Address: Moving your primary residence (this may affect which
State Internal Revenue Service you pay your PAYE or personal income tax
to).
Change of Employment: Transitioning from an employee (PAYE) to a
self-employed person or business owner.
Contact Information: Updates to your phone number or the email address
linked to your NIN/TIN.
Change in Business Name: If the company rebrands or changes its
registered name with the CAC.
Change in Registered Office: Moving the physical headquarters or principal
place of business.

Changes in Directorship: When directors resign or new ones are appointed.

Nature of Business: If a company shifts from, for example, "General
Contracts" to "Oil and Gas Services" (this often changes the tax rate or
applicable incentives). -
Cessation of Business: If the business stops operating entirely, you must
notify the NRS to prevent continuous "Best of Judgment" (BOJ)
assessments.

  1. Why It Matters
    Failing to update your records is more than a clerical error; it carries real-world
    consequences: - - - -
    Invalid Tax Clearance Certificates (TCC): If your records on the NRS portal
    don't match your current CAC status, your TCC application will likely be
    rejected.
    Missed Legal Notices: The law considers a notice "served" if it is sent to
    your last known address on file. If you’ve moved and don't receive an audit
    notice, the NRS can proceed with legal action in your absence.
    Penalty Accumulation: In the case of business cessation, if you don't
    officially notify the NRS that you've closed, they will assume you are still
    earning income and continue to charge late filing penalties.
    Bank Account Freezes: With the 2026 integration of NIN-TIN-BVN,
    discrepancies in your data across different agencies can trigger automated
    "Red Flags," leading to temporary restrictions on your bank accounts.
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