✕ CLOSE Online Special City News Entrepreneurship Environment Factcheck Everything Woman Home Front Islamic Forum Life Xtra Property Travel & Leisure Viewpoint Vox Pop Women In Business Art and Ideas Bookshelf Labour Law Letters
Click Here To Listen To Trust Radio Live

Companies prone to wrong practices during hardship – FRC

The Financial Reporting Council of Nigeria (FRC), has stated companies are prone to doing wrong things with the economic hardship in the country.

To this end, the council is strengthening the regulatory oversight and deepening the integrity of financial statements with the Accounting Development Tool (ADT).

Chief Executive Officer of the council, Dr. Rabiu Olowo, stated this in Lagos when the Netherlands Consul-General in Lagos, Michel Deelen, paid him a courtesy visit to discuss the ADT in Nigeria project in partnership with the United Nations Conference on Trade and Development (UNCTAD).

SPONSOR AD

According to him, the ADT Nigeria project would help align the country with the global baseline for accounting practices.

He stated that research had shown that during the period of economic hardship, companies are prone to do wrong things when it comes to financial reporting, which requires improved regulatory oversight.

“We are all aware of what is going on in Nigeria today, economic challenges or hardship if you like; research has shown that this period stimulates and encourages companies to do the wrong thing especially when it comes to financial reporting,” he explained.

 

Sponsored

Discover the latest trends on Temu! Shop mobile phones, fashion, beauty, home essentials & more. Start exploring now!


Click here to learn how it works.

Sponsored

Unlock AI's potential! Get top prompts for content, blogs, social media, research, draft proposals and more. Boost creativity start using AI tools today!


Click here to learn how it works.

Sponsored

Start Affiliate Marketing Today! Learn step-by-step how to set up a blog, find programs, create links, and earn money—beginner-friendly guide inside!


Click here to learn how it works.

Sponsored

Join our FREE WEBINAR! Discover the 3-step formula to turn WhatsApp into a cash-generating machine. Sign up now and start earning!"


Click here to learn how it works.

Sponsored

Master Facebook Ads! Learn to set up Business Manager, run campaigns, optimize budgets, and drive sales. Start your journey to ad success today!"


Click here to learn how it works.

Sponsored

Unlock your confidence and attract the love you deserve! Learn how to become irresistible to women—start your transformation today!"


Click here to learn how it works.

Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.