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Recent Ongoing IPSASB and IASB Projects for Comments

COMMENTS ON IPSASB CONSULTATION PAPER – PUBLIC SECTOR SPECIFIC FINANCIAL INSTRUMENTS

In furtherance of the provisions of the Financial Reporting Council of Nigeria Act No. 6, 2011; the Council hereby invites you to comment on the IPSASB’S Consultation Paper – Public Sector Specific Financial Instruments by the International Federation of Accountants (IFAC).

The comments periods ends on December 31, 2016. However, the Council hopes to collate comments for onward submission to the International Federation of Accountants (IFAC) on December 20, 2016. Comments should reach the Council not later than December 20, 2016.  DOWNLOAD NOW or from IPSASB’s website:www.ipsasb.org.

IASB EXPOSURE DRAFTS

COMMENTS ON IASB EXPOSURE DRAFT, ED/2016/1 – DEFINITION OF A BUSINESS AND ACCOUNTING FOR PREVIOUSLY HELD INTERESTS Proposed amendments to IFRS 3 and IFRS 11

The comments periods ends on October 31, 2016. However, the Council hopes to collate comments for onward submission to the International Accounting Standards Board (Board) on October 24, 2016. Comments should reach the Council not later than October 24, 2016. DOWNLOAD NOW or from the IFRS`s website: www.ifrs.org.

PUBLIC HEARING ON NCCG

The Council shall hold a final Public Hearing on the National Code of Corporate Governance (NCCG) on June 23, 2016 at Airport Hotel, Ikeja, Lagos. The amended/updated National Code can be downloaded herein by clicking on Corporate Governance on the website.

IPSASB Exposure Drafts

The Council invites you to comment on IPSASB’s Exposure Drafts No. 59, 60 and 61. READ MORE

REVISED DRAFT OF THE NATIONAL CODE OF CORPORATE GOVERNANCE

Following the conclusion of the two public hearings held June 30thand July 2nd, 2015 in the first instance and the review of the amended areas during the Financial Reporting Summit held on the subject on December 22-23, 2015, please find the amended version of the Codes for your final comments. Comments should be made in writing directly to the Lagos office of our Council.

The period of comments is up until 6pm, January 31st, 2016.

Click on ‘Corporate Governance’ above for details 


Council releases Rule 8: Functional and Presentation Currencies.

In line with the provisions of International Financial Reporting Statndards, entities are faced with two matters in terms of the currency in which their Financial Statements are presented. For Council’s rule on this matter, go to Board Activities, Click on Council’s Rules and Scroll to Rule 8.

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Reply to CBN Governor’s letter on FRC Regulatory Decision on Stanbic IBTC Holdings Plc.

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Biometrics Capture

Please be informed that Professionals who have duly completed their registration process with our council up to paymen stage should proceed to the nearest FRC Office or Desk office locate at teh Cooperate Affaires Commission as here under for their biometric data and capture.


Capture Centres

  1. Financial Reporting Council of Nigeria

    Financial Reporting Council of Nigeria
    LCCI Conference Centre
    10, Olowopopo Street
    (Near MKO Abiola Gardens)
    Central Business District
    Alausa, Lagos

  2. Corporate Affairs Commission Office

    18/20, Catholic Mission Street,

    Opposite City Hall,

    Lagos Island,

    Lagos

  3. Corporate Affairs Commission Office

    Otunba Jobi Fele Way,

    Alausa, Lagos

  4. Financial Reporting Council of Nigeria

    Federal Secretariat Complex

    Phase II, BLK C, Shehu Shagari Way,

    Central Business District,

    Abuja

  5. Corporate Affairs Commission Office

    Plot 420, Tigris Crescent

    Off Aguiyi Ironsi Crescent

    Maitama, Abuja

  6. Corporate Affairs Commission Office

    Wuse Zone 5

    Old C.A.C

    Abuja

  7. Corporate Affairs Commission Office

    1, Yakubu Avenue,

    behind Lugard hall,

    Kaduna

  8. Corporate Affairs Commission Office

    30, Danjuma Drive,

    Off Trans Amadi Industrial Layout,

    Port Harcourt

  9. Corporate Affairs Commission

    Godwin Abbey Road

    Limit Junction, Sapele Road

    Benin City

  10. Corporate Affairs Commission Office

    44, Adegoke Adelabu

    Total Garden, Adjacent

    K.S. Hotel,

    Yemetu, Ibadan


NOTICE! NOTICE!! NOTICE!!!

FRC, ABUJA HAS RELOCATED TO
4TH FLOOR, FEDERAL SECRETARIAT COMPLEX,
PHASEII, BLK C, SHEHU SHAGARI WAY,
CENTRAL BUSINESS DISTRICT, ABUJA

 

NOTICE! NOTICE!! NOTICE!!!

FRC HAS RELOCATED TO
4TH FLOOR, LCCI HOUSE
NO 10, NURUDEEN OLOWOPOPO STREET,
(NEAR MKO ABIOLA GARDENS)
CENTRAL BUSINESS DISTRICT,
ALAUSA, LAGOS.

ONLINE REGISTRATION PROCESS WITH FRC

  1. Kindly go to our website: www.financialreportingcouncil.gov.ng (Do make sure that your internet browser is either Explorer 9 OR Google Chrome OR Mozilla Firefox).
  2. On the major heads at the site, click on “Registration” and open to “Individual Professional”. (Please note that all Professionals irrespective of field of study are to register: see Section 41 of Financial Reporting Council Act of Nigeria 2011).
  3. Complete the application form: (Kindly make sure you have your passport photograph, copies of your educational and professional certificates and your signature scanned; as you shall be required to upload them).
  4. Make payment either online or at any Bank branch with a print-out of your Transaction Code. Read More
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Notice Board

About FRC Nigeria

The Financial Reporting Council (FRC) of Nigeria is a federal government agency established by the Financial Reporting Council of Nigeria Act, No. 6, 2011.  It is a federal government Parastatal under the supervision of the Federal Ministry of Industry, Trade and Investment.  The FRC is responsible for, among other things, developing and publishing accounting and […]

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Category: Uncategorized

Notice!  Notice!!  Notice!!! This is to inform you that we received a Court injunction restraining us from embarking on further consideration of the draft Corporate Governance Code. As a law abiding organisation, we are constrained to postpone the public hearing that ought to hold today May 19, 2015. We shall communicate a new date to […]

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Category: Uncategorized

IFRS for SMEs ‘train the trainers’ workshop in Nigeria On 25–27 November 2014 the IFRS Foundation held a three-day workshop in Lagos, Nigeria, to train the trainers on the IFRS for SMEs. The IFRS Foundation instructors were Darrel Scott (Chairman of the SMEIG and IASB member) and Michael Wells (Director, IFRS Education Initiative, IASB). The event was […]

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Category: Uncategorized

NOTICE! NOTICE!! NOTICE!!! FRC, ABUJA HAS RELOCATED TO 4TH FLOOR, FEDERAL SECRETARIAT COMPLEX, PHASEII, BLK C, SHEHU SHAGARI WAY, CENTRAL BUSINESS DISTRICT, ABUJA   NOTICE! NOTICE!! NOTICE!!! FRC HAS RELOCATED TO 4TH FLOOR, LCCI HOUSE NO 10, NURUDEEN OLOWOPOPO STREET, (NEAR MKO ABIOLA GARDENS) CENTRAL BUSINESS DISTRICT, ALAUSA, LAGOS. ONLINE REGISTRATION PROCESS WITH FRC Kindly go […]

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