The Financial Reporting Council of Nigeria (FRC) is pleased to announce the release of the first edition of the FRC Newsletter. This biannual publication is designed to keep you informed about the Council’s activities, and current happenings in the world of financial reporting, while also providing educational and professional development resources. In this maiden edition, you’ll find a wealth of information, including interviews, global spotlights, accounting info-tech, and more. Our goal is to make this newsletter a valuable resource for stakeholders and the public alike. We invite you to download the soft copy of the newsletter to stay up-to-date on financial reporting trends and developments and enjoy the insightful articles and features. Your feedback is welcome as we strive to continuously improve and renew our content. [Download the Newsletter here] Thank you for your support, and we hope you enjoy reading the newsletter as much as we enjoyed putting it together
August 28, 2024The Financial Reporting Council of Nigeria (FRC) has commended Access Bank Plc, Fidelity Bank Plc, MTN Nigeria, and Seplat Energy for their leadership in adopting the International Sustainability Standards Board (ISSB) Sustainability Reporting Standards in Nigeria. The Council in a congratulatory message recognized these organizations for their commitment to transparency, accountability, and environmental stewardship. By embracing the ISSB standards, they have set a commendable example for the entire business community in Nigeria. Click here to read the full notice
The Financial Reporting Council of Nigeria (FRC) successfully hosted its inaugural Audit and Assurance Providers’ Leadership Summit at the Lagos Continental Hotel. The event brought together industry leaders and stakeholders to discuss key issues and challenges facing the audit profession in Nigeria. The summit featured goodwill messages from esteemed representatives, including the Auditor-General for the Federation, Mr. Shaakaa Kanyitor Chira, and the Executive Secretary of FRC, Dr. Rabiu Olowo. Dr. Olowo’s keynote address emphasized the need for a unique platform to engage practitioners on policy and regulatory frameworks, practice reviews, emerging trends, and collaborative opportunities. The event also featured presentations from industry experts, including Mr. Titus Osawe, Mr. Adeshola Amoo, Onawumi Omobolanle, and Williams Erimona, who discussed topics such as audit failures, preventive systems, sustainability assurance, and international standards quality management. In his closing remarks, Dr. Olowo called for collective efforts to prevent audit failures, emphasizing that “prevention is better than cure.” The inaugural summit marked a significant step towards promoting high-quality auditing and assurance in Nigeria, and the FRC looks forward to continuing this engagement with stakeholders.
The Financial Reporting Council (FRC) of Nigeria is a federal government agency established by the Financial Reporting Council of Nigeria Act, No. 6, 2011(as amended). It is under the supervision of the Federal Ministry of Industry, Trade and Investment.
