THE ROLE OF ESTATE SURVEYORS AND VALUERS IN LIFESTYLE AUDIT IN NIGERIA: CHALLENGES AND SOLUTION

Abstract

Corruption is a major problem faced by countries globally, and it is common among political and public office holders in Nigeria. In fighting this menace, asset declaration in lifestyle audit has been globally accepted as accountability tools in public service.  Although, the role of estate surveyors and valuers in asset declaration is becoming prominent in recent times, there are still challenges to overcome. This exploratory study examines the concept of asset declaration within lifestyle audits and its application in Nigeria. It brings to focus the notable non-involvement of Estate Surveyors and Valuers in this process, highlighting the consequential impact on governance, transparency and accountability. Findings reveal loopholes and the ineffectiveness of the current process being adopted by relevant government agencies. The study recommends the adoption of “Asset Declaration and Valuation” (ADV) as a statutory valuation being a viable strategy for winning the anti-corruption war in the Nigerian public sector.   Keywords:  Asset declaration, Asset valuation, Corruption, Estate Surveyors and Valuers, Lifestyle audit.