According to a statement, the MoU was signed on Thursday, August 17, 2023, during a courtesy visit by the Executive Secretary/Chief Executive Officer of the FRC, Shuaibu Ahmed, to the 13th President of ANAN, Dr. James Neminebor at the Association’s National Headquarters in Abuja.
The statement read in part, “Both bodies jointly said the signing of the instrument of delegation would strengthen audit standards and regulation and improve investors’ confidence on financial statements of business entities in Nigeria.
“According to the FRC, the recent amendment of the Council’s Act is designed to strengthen the Council’s operations and enable it function in line with international best practices and give leverage to Audit practitioners to practice in jurisdictions outside the African continent in line with the African Continental Free Trade Area agreement.”
The FRC boss noted, according to the statement, that with the thousands of audit firms in the country, the council requires the service of ANAN in their supervision.
He further pledged the Council’s readiness to work with ANAN on capacity building and joint training programmes.
ANAN President Dr. James Neminebor, in his remarks, said that ANAN is building the capacity of its mega firms – a conglomeration of audit firms to be in the league of big audit firms in the world.
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