To be the conscience of regulatory assurance in financial reporting and corporate governance in Nigeria
Bringing utmost confidence to investors, reputation to oversight and ensuring quality in accounting, auditing, actuarial, valuation and corporate governance standards and non-financial reporting issues.
The Council’s main objects, as defined in the FRC Act, are to:
- protect investors and other stakeholders interest
- give guidance on issues relating to financial reporting and corporate governance to professional, institutional and regulatory bodies in Nigeria
- ensure good corporate governance practices in the public and private sectors of the Nigerian economy
- ensure accuracy and reliability of financial reports and corporate disclosures, pursuant to the various laws and regulations currently in existence in Nigeria
- harmonise activities of relevant professional and regulatory bodies as relating to corporate governance and financial reporting.
- promote the highest standards among auditors and other professionals engaged in the financial reporting process.
- enhance the credibility of financial reporting; and
- improve the quality of accountancy and audit services, actuarial, valuation and corporate governance standards.