Hello Everyone,

PUBLIC NOTICE TO ALL EXTERNAL AUDITORS OF REPORTING ENTITIES IN NIGERIA
The attention of the Financial Reporting Council (FRC) of Nigeria has been drawn to the fact that some external auditors of reporting entities in Nigeria also serve as International Financial Reporting Standards (IFRS) Implementation Consultants to the same clients, a situation which inevitably makes these externals auditors parties to the preparation of the same financial statements which they will thereafter audit/ provide assurance on.
The Council hereby states unequivocally that such activities impair the independence of the external auditors as professionals and is a violation of Section 46 of the Financial Reporting Council of Nigeria Act No. 6 of 2011.
Consequently, all affected professionals should take note and henceforth desist from such activities or risk being sanctioned accordingly by the Council.
Signed
Management