Exceed Your Expectations!

Ben Udowa Co-Chartered Accountants

The continuous  change in the economic and market environment makes it imperative for any organization including government ministries and parastatals that want to remain in operation to embark on adequate planning, monitoring and control of performances and evaluation of variances to determine causes and to take corrective measures.

The management of the various organizations and government establishments alone cannot alone carry out the arduous tasks. Consequently there is the need for committed, dedicated, and highly competent consultants and auditors who can give personalized services.

At Benudowa, we believe in efficient client services delivery by giving personalized services using highly competent and effective hands.


Benudowa is a reputable firm of Chartered Accountants licensed by the Institute of Chartered Accountants of Nigeria with a widely experienced and dynamic crop of partners, associates and staff with a commitment and determination to render the highest quality of professional services in the fields of Auditing, Accounting, Taxation, Investigation, Receiverships, Executorship, Human Capital Management, Financial and Management Consultancy to all sectors of the Nigerian economy and beyond.

Our corporate goal is to provide excellent professional services to our clients ensuring at all times cost effectiveness and first-class delivery thereby having a permanent positive impact on their minds.


  1. Audit Services:

This involves the examination of and the expression of opinion on the financial statements of an enterprise or government establishments in pursuance of the appointment, and in the case of statutory audit, that the matter be reported upon as laid down in the Company and Allied Matters Act (CAMA) 1990 and other regulatory framework.

Our activities in this area cover large, medium and small companies, partnerships and sole proprietorship, Federal, State and Local Governments.    Our approach comprises of system and balance sheet audit. In addition to the statutory audit, we also undertake management audit services including personnel audit, value added audit, acquisition audit, Forensic Audit, shares valuation, credit assessment for lenders, verification and evaluation of compliance with internal control, advise on cost reduction and control/profit improvement.

We are confident that we will provide you with first-class audit services in line with our proven experienced services.

Normally, the scope of our audit services is determined by the statute under which we are appointed, the objective being to issue a report that meets the requirements of the particular statute.  If in the process, we become aware of any weakness in your organization’s systems of internal checks and controls, we would feel obliged to formally bring them to the attention of the management body while making recommendations and suggestions for their rectification.

  1. Accounting Services:

The firm provides advice and assistance to clients on a wide variety of accounting services, including:

  • Preparation of Annual Financial Statements;
  • Compilation of information required by the Inspector of Taxes;
  • Reporting on the performance of business and drawing attention to possible cost savings and improvement control;
  • Measuring of business performance and judging its efficiency;
  • Budget development and presentation;
  • Carrying out bank negotiations;
  • Advise on shear valuation and seeking for stock exchange quotation;
  • Control of cash management
  • Investigation of fraud and irregularities;
  • Bookkeeping.
  1. Taxation and Tax Advisory Services:

The complexity and the frequent changes in tax laws require each company to embark on vigorous tax plan. We provide advice on company and Personal assessment, liaising with Inland and Internal Revenue Departments and ensuring that our clients carry the minimum tax burden possible. Key areas in this regard include:

  • Advising on business and personal planning of all taxes for existing or new business and for its owners;
  • Advising on cash flow effect of taxation plans in order to optimize the     cash available to a business at any point in time;
  • Dealing with the preparation, submission and negotiation of income and company’s tax returns;
  • Advising on all other taxes and negotiations with inland revenue on client’s behalf;
  • Advising and obtaining certificate of acceptance;
  • Advise clients on the operation of the Pay-As-You-Earn (personal taxation) System; and where requested (e.g. to ensure absolute confidentiality), we provide computerized or manual Payroll services.
  • Apply for and obtain tax Clearance Certificates on behalf of Clients.
  • Advise on the taxation implication of the contracts with non-resident

Companies which our clients may plan to enter into.

  • Organize seminars for the benefit of employees of our Clients.
  • Produce, as and when necessary, technical memorandum on new tax legislation.
  • Act as consultants to government and tax authorities on tax matters.
  1. Management & Financial Consultancy Services:

We provide our client with the following management and financial services:

  • Accounting and Financial system development and management
  • Management/Staff Audit;
  • Reconstruction and Rescue operations, Business Valuation, Merger and Takeover;

We also provide total support to clients in all areas of Management and Finance. Our approach includes:

  • Review and identification of problem areas;
  • Design and implementation of solutions
  • Executive search/ Personnel recruitment.
  • The conduct of training courses in all aspects of finance, accounting, stores, purchasing and related systems.

We design, review and implement comprehensive accounting system   tailor-made to specific needs, nature and circumstances of your   organization/establishment.

  1. Financial Advisory Services:

We provide a wide range of financial advisory services such as:

  • Optimum avenues of investment;
  • Raising finance in short, medium and long term and preparing the associated reports and schedules;
  • Client company’s profitability and liquidity, and monitoring at regular intervals;
  • Key financial decisions arising in the course of trading;
  • Establishing optimum levels of readily realizable assets such as stocks, debtors and investments.
  • Cash Management;
  • Investment Analysis
  • Ratio/Rating Analysis
  1. Investigations:

We have necessary skills and experience to carry out special investigations covering the following areas:

  • Alleged fraud;
  • Investigations under the Companies’ Act;
  • Prospectus reports and other work in connection with new issues of shares or debentures;
  • Valuation work: purchase of business; share in partnership; shares in limited companies (minority or majority holdings); take-overs, mergers, amalgamations, reconstructions, absorptions;
  • ‘Back duty’ tax investigations;
  • Forensic audit
  • Prospective loans to third party.
  • Investigation and audit of executors and trustees accounts
  1. Liquidations & Receiverships:

In respect of this category of assignment, we:

  • Ensure that the best return on the assets of a company being wound up is realised, as expeditiously as possible, in order to settle the claims of its creditors, and for the benefit of its shareholders;
  • Act as receiver for the debenture holders and/or other creditors of a company being wound up or defaulting on the terms of its debenture trust deed or finance agreements;
  1. Executorship:
  • Act as executors, Administrators and Personal Representatives to Wills and Probates
  • payments of debts, solvent and insolvent estates, creditors and debtors executors and beneficiaries
  • Distribution of estate
  • preparation of estate capital accounts, legacies/devices accounts, distribution statements, accounting procedure under intestacy rule, advancement and hotchpots, division of income
  1. Trusteeship:
  •    Act in a fiduciary capacity as trustee, in accordance with the terms of

trust deed, in the exclusive interests of beneficiaries.

  •    Creation of trusts, formalities for the creation of trust, trust for land,

protective trusts and charitable trusts

  •    Trusteeship accounts and audit
  1. Companies’ Statutory Secretarial Services:

As our statutory report on the audit of a company incorporated under the Companies Act, 1968, which, as repealed by the Companies and Allied Matters Act 1990, has to include a positive or negative statement regarding compliance with the requirements of the Act, we are obliged to ensure that the statutory secretarial affairs of the company are up-to-date.

Precisely, that:

  •     The prescribed procedures for the incorporation of a company under the law are fully complied with and all relevant statutory books and registers are kept.
  •     All statutory returns are filed promptly.
  •     Minutes of Board meetings are properly developed and approved at subsequent Board meetings and included in the minutes books.
  •     The company’s seal is securely kept to prevent its improper use.
  •     Annual general meetings are held promptly as and when due.
  •     Maintain registers of shareholders, debenture holders, directors. We provide Company secretarial services to companies who do not want to employ full-time Company Secretaries, on a permanent (retainer) basis.
  1. Computer Systems Design and Installation:

The firm also has expertise in the field of computer systems review, design and installation. The firm can also provide training services, counselling and follow-up services and make outright sale of computer packages available for use on all IBM Compatible System. Our specific areas includes:

  • Computerisation of existing system;
  • System development and management;
  • Payroll administration;
  • Programming;
  • Application packages development;
  • Computer training services.
  1. Economic & Governmental Affairs:

As a deliberate policy of our firm to support and encourage good governance, we now provide the following services to both the executive and legislative arms of government at all levels:

  •       Investment/Project Advisory services;
  •       Provision of advise on fiscal, monetary and general economic policy formulation, implementation and monitoring;
  •       Advise on Expenditure control and monitoring through regular value-for-money audit of government expenditure;
  •       Assist the legislature monitor implementation of annual budgets ensuring that they are implemented as approved by the legislature and that              the overall socio-political and economic objectives are met;
  •       Conduct Seminars and Workshops to properly articulate government policies as well as educate and enlighten staff of government for better               performance;
  • Advise government on revenue mobilisation and generation.


It is not practicable to estimate how long an audit or other assignments will take without adequate knowledge of the requirement of the client, the quality and completeness of records and the ease with which documents and information will be supplied.  The extent of the co-operation that is received both from the management and staff of the organisation is also a significant factor.  A realistic appraisal of the completion period can be made after a survey has been conducted. However, provided we receive full co-operation from the client no target completion date is regarded unrealistic by us in view of the fact that we have adequate personnel at all times.


  1. Audit and Accounting

The fee for the assignment is based on the actual time spent valued at our charge-out rates which are based on the scale rates submitted by the Institute of Chartered Accountants of Nigeria to the Productivity, Prices and Incomes Board.  In any event, we have a system of cost budgeting as a basis for negotiating in advance the probable level of fees that we charge for the assignment.

If the circumstances on which the fees are negotiated change in the course of an assignment, it is our policy to immediately alert the client and obtain its agreement to pay additional fees from the consequential additional work.

The actual amount billed for an assignment will obviously be determined by the quality of the books and records of accounts, the adequacy of the system of internal controls, the efficiency with which the client’s staff attend to any queries raised by our team on the assignment and the speed with which information and documents are produced.

The charge excludes expenses of the audit or engagement such as travelling, postage and stationery, which are expected to be fully reimbursed.

  1. Taxation and Tax Advisory Services:

The fee for a tax advisory service, which is negotiable, is based on the time spent on the client’s tax matters.

  1. Consultancy Services:

Our fees for consultancy work is negotiated on the basis of a proposal that is

submitted to the client after we would have carried out a brief preliminary survey.

  1. Reimbursable Expenses:

Disbursements directly related to an assignment are expected to be borne by the client even when we have to make the initial payment.


The firm has the following staff:

  • Henry Oshikoya                    BSc., FCA
  • Ben Onuoha                          HND, MBA, ACTI, FCA
  • Ben Okafor                           HND, MBA,ACTI,  FCA
  • Ime Essien                             BSc., MBA, ACTI, ACA
  • Uduak Ewitat              BSc/, MSc., ACIP
  • Emmanuel Okon Essien      BSc., FCA
  • Uwem Ekpo                          HND, MBA
  • Kingsley Ikpe                        BSc, Msc
  • Samuel Ikpe                         BSc, Msc

We also have a rich pool of part-qualified accountants and other technical and administrative staff, which all makes up the very efficient, skilled and experienced manpower team our firm boasts of.


Please find below a brief profile of our Partner.

Ben Udowa, LLB.BL, ACIArb (London), BSc, MBA, FCTI, FCA

Ben Udowa is the founder and Chainman/CEO of the firm.  He is multidisciplinary, – holds an LLB in law from the University of Calabar, a Bsc in Business Administration from the University of Lagos, and an MBA in Marketing from Rivers State University of Science and Technology, Port Harcourt.

He then embarked upon his formal legal education and was called to bar as Barrister and Solicitor of the Supreme Court.

Ben Udowa is also a Chartered Accountant with multiple disciplinary skills acquired from reputable accounting firms; a Chartered Tax Practitioner, and a Professional banker with over twenty years experience at various top management positions in the top ranking banks. He left Access Bank Plc, an A rated bank as a General Manager/Regional Director into full time legal practice. Ben Udowa draws appropriately from multiple disciplines to redefine problems outside of normal boundaries and reach solutions based on a novel understanding of complex situations.

Ben Udowa is a member of many professional bodies both local and international including Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), Fellow of the Institute of taxation of Nigeria (CITN), Senior member of the Chartered Institute of Bankers of Nigeria (CIBN), Associate member of the Chartered Institute of Arbitration of London, Member of the Nigerian Bar Association, Member International Bar Association.

His area of specialization is Corporate Law Practice, Tax Consultancy and Arbitration

Ime Essien Bsc, MBA, FCTI, FCA

Mr. Essien is a partner. He is a Chartered Accountant and a Chemical Engineer, A first class Bsc. Graduate in Chemical Engineering from the University of Benin, Essien also holds an MBA in Marketing. He started his business career in 1986 with PricewaterhouseCoopers, an international firm of Chartered Accountants, specialising in accounting practices and Management consultancy. He later joined Investment Banking and Trust Company (IBTC) and Liberty Bank respectively where he was at various times responsible for Capital Market activities, Credit, Equipment Leasing and Financial Advisory Services. Mr. Essien, whose vast experience cuts across several sectors, is currently working with a reputable oil company.  He is an Associate Member of the Institute of Chartered Accountants of Nigeria (ICAN) and the Institute of Taxation (CITN).

Ben Onuoha, MBA, FCA

Ben Onuoha is a partner. He is Chartered Accountant and holds an MBA in Management from the Lagos State University. His working experience cuts across   the Nigerian Television Authority, the then Continental Merchant Bank, Firs Bank (Merchant Bankers) and Devcom Bank where he worked at various managerial position. Onuoha who is currently the MD/CEO of Jessicas Group is a Fellow of the Institute of Chartered Accountants of Nigeria and Chartered Institute of Taxation.

Emmanuel Okon Essien, Bsc, FCA

Mr. Emmanuel Okon Essien is a partner. He is a Chartered Accountant and holds a first degree in Mechanical Engineering. He is a specialist in project/investment appraisal & management, feasibility studies and manpower development. He trained with reputable firms of Chartered Accountants before joining Zenith International Bank. Mr E.O.Essien is presently in the service of a reputable oil company in the Oil and Gas sector. He is an Associate member of the Institute of Chartered Accountants of Nigeria (ICAN).

Uduak Joseph Ewitat, Bsc, Msc, ACIP

Mr. Uduak Joseph is the Managing Partner. He holds a first degree in Business

Administration and an Msc in Banking & Finance. He is an Associate Member of

the Certified Pension Institute of Nigeria. Uduak started his career as an Audit

trainee before joining the then Chase Merchant Bank were he worked for over seven years before  moving to Merchant Bank of Africa as the Head of Corporate Finance. He was the Regional Director for United Bank for Africa Plc before going into private practice after over 20 years banking experience. He is an expert in Forensic Audit.