The Financial Reporting Council (FRC) of Nigeria has established a firm April 1, 2026, deadline for the compulsory registration of all audit and assurance firms operating within the country. This regulatory directive is a critical move to enhance the verifiability of results and ensure that the “infrastructure of distribution” for financial data adheres to the […]
The Fiscal Responsibility Commission, FRC, has commended the Nigeria Deposit Insurance Corporation, NDIC, for what it described as Prompt and consistent remittance of its operating surplus to the Consolidated Revenue Fund, CRF, in line with provisions of the Fiscal Responsibility Act, FRA Act, 2007. Executive Chairman of the Commission, Victor Muruako made this commendation on […]
The Executive Secretary/Chief Executive of Financial Reporting Council of Nigeria (FRC), Dr. Rabiu Olowo said the Council is unwavering in its commitment to depend accountability and good governance by partnering with civil society organisations (CSOs) with shared vision and values partnerships that align with its mission. He reiterated the Council’s commitment to promote greater accountability, […]
Executive Chairman of the Fiscal Responsibility Commission, FRC, Victor Muruako, has underscored urgent need for a paradigm shift in Nigeria’s revenue strategy, stressing that fiscal efficiency and plugging financial leakages are critical to national economic stability, calling for efficiency in the process. Muruako made this known during the opening ceremony of a high-level training programme […]
BY TEMITOPE ADEBAYO The Financial Reporting Council of Nigeria (FRC) has reaffirmed its confidence in the strength of the naira, citing strong investor appetite for local currency assets despite ongoing inflationary pressures and currency volatility. The FRC defending its decision not to apply IAS 29: Financial Reporting in Hyperinflationary Economies, noted that key economic indicators […]
BY MOTOLANI OSENI The Financial Reporting Council of Nigeria (FRC) , has announced the election of its Executive Secretary/CEO, Dr. Rabiu Olowo, as Chair of the 41st session of the United Nations Conference on Trade and Development (UNCTAD) Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR). This esteemed appointment recognizes […]
The Financial Reporting Council (FRC) has launched its investigation into two Big Four audits of logistics and transport company Eddie Stobart. The investigation includes KPMG’s audit for the year ending November 30, 2017, and PwC’s audit for the year ending 30 November 2018. Both investigations will be run under the FRC’s Audit Enforcement Procedure. The […]