• Football Predictions
  • Casino
  • Health
  • Travel
  • Crypto
  • News

The Financial Reporting Council Of Nigeria In 2022

16.7KShares
223.8KViews

A federal government agency established by the Financial Reporting Council of Nigeria Act, No. 6, 2011 is the Financial Reporting Council of Nigeria (FRC). The Federal Ministry of Industry, Trade and Investment is in charge of it.

The FRC is in charge of formulating and publishing accounting and financial reporting rules that must be followed when preparing financial statements for public entities in Nigeria, as well as other connected topics.

According To The FRC Act, The Council's Principal Goals Are To—

  • Protect the interests of investors and other stakeholders;
  • Give professional, institutional, and regulatory organizations in Nigeria advice on financial reporting and corporate governance concerns;
  • Guarantee that the Nigerian economy's governmental and private sectors have effective corporate governance practices;
  • Ensure that financial reports and corporate disclosures are accurate and reliable, in accordance with Nigeria's current laws and regulations;
  • Coordinate the operations of key professional and regulatory organisations in the areas of financial reporting and corporate governance;
  • Promote the highest standards in the financial reporting process among auditors and other experts;
  • Improve the financial reporting's credibility; and;
  • Improving accounting and auditing services, actuarial, valuation, and corporate governance standards, among other things.

There Are Various Advantages To Using High-quality Financial Reporting

COPYRIGHT_TNB: Published on https://www.thenigerianblogger.com/financial-reporting-council-of-nigeria/ by Abeo Bunkechukwu on 2022-04-02T14:54:58.102Z

  • By enhancing the country's financial reporting infrastructure and minimizing the danger of financial market crises and their negative economic consequences, we can help the private sector flourish and the economy become less volatile.
  • A rise in direct and portfolio investments from both domestic and international sources as investors are better equipped to assess corporate prospects and make informed judgments, resulting in lower-cost capital;
  • Promoting the growth of small-scale businesses by allowing them to get loans more easily if they comply with transparent reporting; Enabling global financial and capital market convergence;
  • A more fiscally disciplined government and a better return on investment; and the creation of new job opportunities.

Operations

The operating arms of the FRC are:

  • Directorate of Accounting Standards – Private Sector
  • Directorate of Accounting Standards – Public Sector
  • Directorate of Auditing Practice Standards
  • Directorate of Actuarial Standards
  • Directorate of Valuation Standards
  • Directorate of Inspection and Monitoring
  • Directorate of Corporate Governance
Share: Twitter | Facebook | Linkedin

About The Authors

Abeo Bunkechukwu

Abeo Bunkechukwu - Up to date with all important news, Abeo Bunkechukwu a nutritionist, traveling expert, and professional gambler will offer you the best tips and strategies in these fields, and even more.

Recent Articles

  • Stanley Rabbi Nigerian Actor - Life And Death Of The Best Comedian In Nollywood

    News

    Stanley Rabbi Nigerian Actor - Life And Death Of The Best Comedian In Nollywood

    Stanley Okoro, also known as Stanley Rabbi nigerian actor, was a Nigerian Nollywood actor, comedian, MC, content creator, promoter, brand influencer, and digital marketer, as well as the CEO of 27ELEVEN entertainment.

  • Betensured - How To Make A Free Account?

    Football Predictions

    Betensured - How To Make A Free Account?

    Unfortunately, many bettors are not experienced gamblers, and as a result, they frequently lose a lot of money on bad bets. But what if you could make more precise wagers with better odds of success? Betensured enters the picture in this situation.

  • Zulubet Predictions For Today Forebet - How Do They Work?

    Football Predictions

    Zulubet Predictions For Today Forebet - How Do They Work?

    We always want to make nairas while betting but we don't know reliable sources from betting tips. We are here to give you some of the best tips in forebet market and you will learn how does Zulubet predictions for today forebet work?

  • Betnumbers Or Betkings - What Is The Best Bet Website?

    Football Predictions

    Betnumbers Or Betkings - What Is The Best Bet Website?

    Whether Betkings or Betnumbers, What do you want? Sports betting has grown in popularity in Nigeria during the last few years.

  • Tips180 1x2 Bet Predictions - How Do They Work?

    Football Predictions

    Tips180 1x2 Bet Predictions - How Do They Work?

    Three-way betting, commonly referred to as 1X2 betting, involves betting on a home win, a draw, or an away win. We define a 1 X 2 betting market and walk you through the process of figuring out your payout. We can demonstrate some excellent outcomes from tips180 1x2 betting prediction on games.

  • Soccerplatform - Strategies To Win Using This Betting Platform

    Football Predictions

    Soccerplatform - Strategies To Win Using This Betting Platform

    This article was written to provide my effective betting methods and advice that are applicable to Soccerplatform.

  • Tips 180 Jackpot Prediction - Win Huge Prizes

    Football Predictions

    Tips 180 Jackpot Prediction - Win Huge Prizes

    Across all betting markets, Tips180 has regularly shown to be the most dependable source for precise football predictions. Read here for some great Tips 180 jackpot prediction for some upcoming matches.

  • King Victor Prediction For The Next Week On Football Leagues

    Football Predictions

    King Victor Prediction For The Next Week On Football Leagues

    In any case, viewing this page indicates that you DO want to master the fundamentals. We specifically wrote this essay for that reason. Everything you need to begin betting on soccer is covered. Here is a brief summary of what is provided. Of course, there will be some King Victor prediction for the upcoming week.

  • Best Football Prediction Sites In Nigeria To Earn Nairas

    Football Predictions

    Best Football Prediction Sites In Nigeria To Earn Nairas

    There are best football prediction sites in Nigeria sites in Nigeria for winning bets that you should be aware of as a football fan in Nigeria who has his sights set on making a lot of money from football betting.

  • Why Action23 Betting Is One Of The Best Sport Gambling Sites

  • Zulubet Prediction Correct Score - Predict Accurate Scores In Football

  • Zulebet Predictions For Tomorrow In Football Matches

  • Mr Preggie Somasundram One Of The Best Breeders

  • How To Be A Sport Betting Agent In Nigeria In Just A Few Steps