Audited financial statements are one of those things every business eventually needs but nobody thinks about until the last minute. The bank asks for them when you apply for a loan. Investors want them before writing a cheque. FIRS requires them with your annual CIT filing. And the CAC needs them for certain compliance filings. When that moment arrives, most business owners scramble to find an auditor, negotiate fees, and wait weeks for delivery.
Taxly simplifies this entirely. Upload your bank statements, select your audit tier, add any notes for the auditor, and submit. A certified chartered accountant prepares your audited financial statements and delivers them as a signed PDF within 3–5 business days. This guide walks through the entire process — the request form, the pricing tiers, what happens after submission, and how to save money by bundling your audit with your tax filing plan.
Why do you need audited statements? Company Income Tax (CIT) filing requires them. Bank loan applications require them. Investor due diligence requires them. Regulatory compliance often requires them. And Tax Clearance Certificate (TCC) applications go smoother when you have them ready.
When You Need Audited Financial Statements
Here are the most common situations where Nigerian businesses need professionally audited accounts:
- Annual CIT filing — the Companies Income Tax Act requires audited accounts to accompany your tax returns
- Bank loan applications — most Nigerian banks won't process a business loan without audited financial statements for the past 1–3 years
- Investor reporting — angel investors, VCs, and grant providers need audited statements to verify your financial position
- Regulatory compliance — SEC-regulated companies, NGOs, and certain licensed businesses must file audited accounts annually
- Tax Clearance Certificate (TCC) — having audited accounts ready speeds up the TCC application process significantly
- Government contract bids — many procurement processes require recent audited financial statements
If any of these apply to your business, you need audited statements. And with Taxly, you can get them without sourcing an auditor independently or negotiating fees from scratch.
The Request Form: How to Submit an Audit Request
On your Taxly dashboard, navigate to "Audited Statements" in the sidebar. You'll see the "Request New Audit" card at the top of the page. Here's what the form looks like, as at the time of writing:
| Field | Required? | Notes |
|---|---|---|
| Statement type | Yes | Dropdown: Sole Trader (Individual), Small Business (SME), or Corporate (Medium / Large) |
| Period covered | Yes | Month dropdown (January–December) + Year dropdown (2025, 2024, 2023) |
| Upload bank statement(s) | Yes | Drag-and-drop zone — PDF format, max 10MB |
| Additional notes | No | Textarea for any specific instructions or details for the auditor |
Choosing Your Statement Type
The statement type dropdown has three options:
- Sole Trader (Individual) — for sole proprietors, freelancers, and one-person businesses
- Small Business (SME) — for registered businesses with modest operations and 1–3 bank accounts
- Corporate (Medium / Large) — for limited companies with complex operations, multiple locations, or significant assets
Select the type that matches your business structure. This helps the assigned auditor prepare the appropriate format and level of detail.
Selecting the Period
Choose the month and year your financial statement should cover. Most businesses need annual statements (e.g., January 2025 for the full financial year), but you can also request statements for specific periods if needed for a loan application or investor requirement.
Uploading Your Bank Statement
Click the upload zone or drag your bank statement PDF into the designated area. The file must be in PDF format and under 10MB. If you have multiple bank accounts, you can combine all statements into a single PDF or upload the primary account first and mention additional accounts in the notes.
Tip: Download your bank statement directly from your bank's online portal as a PDF. Most Nigerian banks (GTBank, Access, Zenith, First Bank, UBA) offer PDF statement downloads for any date range. Avoid screenshots or photos of paper statements — the auditor needs clear, verifiable bank data.
Additional Notes
The optional notes field is useful for:
- Specifying the exact date range if different from a standard calendar year
- Mentioning additional bank accounts not included in the uploaded statement
- Noting specific requirements from your bank or investor (e.g., "Bank requires statements in IFRS format")
- Flagging unusual transactions that need context
Once everything is filled in, click "Submit Audit Request" and your request enters the queue.
The 3 Audit Tiers: Pricing and Scope
Taxly offers three audit engagement tiers, priced based on your business complexity and revenue range. All tiers include certified and signed accounts by a chartered accountant. Here's the breakdown, as at the time of writing:
| Tier | Name | Price | Revenue Range | Scope |
|---|---|---|---|---|
| A1 | Small | ₦150,000 per engagement | Under ₦10M | 1–3 bank accounts, suitable for bank loans |
| A2 | Medium | ₦300,000 per engagement | ₦10M – ₦100M | Multiple bank accounts, suitable for investor reporting |
| A3 | Complex | ₦500,000 per engagement | Above ₦100M | Complex/multi-location, suitable for regulatory submissions |
A1 — Small (₦150,000)
Best for: small businesses, sole traders, or early-stage companies with straightforward finances. If your annual revenue is under ₦10M and you have 1–3 bank accounts, this tier covers you. Common use case: you need audited accounts for a bank loan application or a simple CIT filing.
A2 — Medium (₦300,000)
Best for: growing businesses with multiple bank accounts, more transaction volume, and revenue between ₦10M and ₦100M. Common use case: investor reporting, Series A due diligence, or regulatory filings that require more detailed financial analysis.
A3 — Complex (₦500,000)
Best for: larger companies with revenue above ₦100M, complex operations, multiple business locations, or significant assets. Common use case: SEC regulatory submissions, large government contract bids, or complex corporate restructuring.
All tiers include: Certified and signed accounts by a chartered accountant. The delivered statement is a professionally formatted, signed PDF that you can submit to any bank, investor, regulatory body, or tax authority.
Save Money: Bundle Plans (Tax Filing + Audit)
If you need both tax filing and audited financial statements — which most businesses do — Taxly's bundle plans save you significant money compared to purchasing them separately.
| Bundle | Includes | Price | You Save |
|---|---|---|---|
| Business Complete | Business Plan + A1 Audit | ₦210,000/year | ₦30,000 |
| Corporate Standard | Corporate Plan + A2 Audit | ₦430,000/year | ₦70,000 |
| Corporate Premium | Corporate Plan + A3 Audit | ₦595,000/year | ₦105,000 |
Business Complete — ₦210,000/year (save ₦30,000)
Combines the Business tax filing plan (monthly VAT, quarterly WHT, PAYE, annual assessment) with an A1 audit engagement. If you're a small business that needs both monthly compliance and annual audited accounts for a bank loan, this is your bundle.
Corporate Standard — ₦430,000/year (save ₦70,000)
Combines the Corporate tax filing plan (everything in Business plus CIT, TCC, and CAC returns) with an A2 audit engagement. The most popular choice for mid-size companies with full compliance obligations and investor reporting needs.
Corporate Premium — ₦595,000/year (save ₦105,000)
Combines the Corporate tax filing plan with an A3 audit engagement. For larger companies with complex operations that need detailed regulatory-grade audited statements alongside full tax compliance.
Example savings: If you bought the Corporate Plan (₦300,000) and an A2 Audit (₦300,000) separately, you'd pay ₦600,000. The Corporate Standard bundle gives you both for ₦430,000 — saving ₦70,000 annually. That's more than two months of the Corporate Plan free.
What Happens After Submission
Once you submit your audit request, it goes through a defined workflow:
- "Pending Documents" — your request has been received. If the auditor needs additional documents or clarification, you'll be notified and the status stays here until you respond.
- "In Progress" — the chartered accountant is actively working on your financial statements. This is the bulk of the turnaround time.
- "Completed" — your audited financial statements are ready for download.
Turnaround Time
Standard turnaround is 3–5 business days from the point all documents are received and the engagement begins. If the auditor needs clarification or additional documents, the clock pauses until you provide them.
Plan ahead. If you need audited statements for a CIT filing deadline or a bank loan meeting, don't submit your request the day before. Give yourself at least a full week — ideally two weeks — to account for any back-and-forth with the auditor.
Downloading Your Completed Statement
Once the status changes to "Completed," your audited financial statement is available as a signed PDF. You can download it from the "Previous Audited Statements" section on your Audited Statements page. This section shows a history of all your audit requests with their current status and download links.
The "Previous Audited Statements" Section
Below the request form on the Audited Statements page, you'll find a historical list of all your audit requests. Each entry shows:
- The statement type and period covered
- The submission date
- Current status (Pending Documents, In Progress, or Completed)
- Download link (available once status is "Completed")
This serves as your audit history — useful for tracking which periods you've already had audited and which ones are still pending.
What to Upload: Getting the Best Results
The quality of your audited statements depends heavily on the documents you provide. Here's how to maximise the quality of your audit:
Bank Statements
- Download directly from your bank's online portal as PDF
- Ensure the statement covers the full period you're requesting (e.g., January 1 – December 31 for annual statements)
- If you have multiple bank accounts, include all of them — the auditor needs the complete picture
- Statements should show opening balance, all transactions, and closing balance
Supporting Documents (via Additional Notes)
While the form only has one file upload zone, you can mention in the notes if you have additional supporting documents. The auditor may request:
- Fixed asset register
- Accounts receivable/payable aging reports
- Inventory records
- Payroll summaries
- Loan agreements
If asked for additional documents after submission, you'll be notified and the request status will show "Pending Documents" until you provide them.
Tip: The more complete your initial submission, the faster the turnaround. If you know your business has fixed assets, outstanding loans, or significant inventory — mention these in the additional notes so the auditor knows what to expect and can request specific documents upfront rather than discovering them mid-audit.
Who Signs the Statement?
All audited financial statements delivered through Taxly are signed by a certified chartered accountant registered with the Institute of Chartered Accountants of Nigeria (ICAN) or the Association of National Accountants of Nigeria (ANAN). The signature, stamp, and professional certification details are included on the statement.
This means your statement is accepted by:
- Nigerian banks (for loan applications)
- Federal Inland Revenue Service (for CIT filing)
- Corporate Affairs Commission (for compliance filings)
- Securities and Exchange Commission (for regulated entities)
- International investors (IFRS-compliant format available)
Common Scenarios
Scenario 1: Bank Loan Application
Your bank asks for audited accounts for the last two financial years. Submit two separate audit requests on Taxly — one for 2024 and one for 2025. Select "Small Business (SME)" as the statement type if your revenue is under ₦10M. Upload your bank statement for each respective year. Within 3–5 business days per request, you'll have both statements ready to present to the bank.
Scenario 2: CIT Filing Deadline
Your Company Income Tax filing is due in 6 months, and you need audited accounts to accompany it. Submit your audit request at least 2 weeks before you plan to file CIT. Once the audited statement is ready, you can attach it when filing CIT on Taxly — everything stays in one platform.
Scenario 3: Investor Due Diligence
A potential investor requests audited statements as part of their due diligence process. Choose the A2 or A3 tier depending on your company size, add a note mentioning the investor's specific requirements (if any), and submit. The professionally signed statement carries the credibility needed for investor-grade reporting.
Frequently Asked Questions
Can I request audited statements without a tax filing subscription?
Yes. Audited financial statements are a separate service from tax filing plans. You can request an audit as a standalone engagement without subscribing to any filing plan. However, the bundle plans offer significant savings if you need both.
What format are the statements delivered in?
All completed statements are delivered as signed PDF documents. You can download them from your dashboard at any time — they remain accessible in your "Previous Audited Statements" history.
Can I request a revision after delivery?
If you spot an error or have questions about the completed statement, contact support. Minor corrections are typically handled within 1–2 business days. Material revisions (due to new information you didn't originally provide) may require a new engagement.
How far back can I request audited statements?
The period dropdown currently offers 2025, 2024, and 2023. If you need statements for earlier periods, mention it in the additional notes and submit for the closest available year — the team will work with you on specific date ranges.
Is the A1 tier sufficient for a bank loan?
Yes. The A1 tier is specifically designed for bank loan applications. It includes fully certified and signed accounts by a chartered accountant. The distinction between tiers is about complexity and revenue range, not credibility — all tiers carry the same professional certification.
Get audited statements in 3–5 business days
Upload your bank statement, select your tier, and let a certified chartered accountant handle the rest. No searching for auditors, no price negotiations.
Request Audit on Taxly →