FRCN revokes rule requiring regulatory approval before recognising certain expenses
The Financial Reporting Council of Nigerian (“FRCN”) on Monday, 5 August 2019, issued a public notice which revoked its Rule 4, requiring regulatory approval for events/transactions having financial reporting implications prior to recognising same in the financial statements.
Mergers and acquisitions now under the joint purview of SEC and FCCPC…till further notice
SEC and FCCPC recently issued joint guidance on submission of notifications for proposed mergers, acquisitions and other business combination notifications
4 Key Steps to Unlocking a flexible organization
In the 1950s, the average lifespan of an S&P 500 organization was around 60 years. Now, it’s about 15 years—and continues to decline. Lean start-ups are moving with purpose, speed and agility to reshape markets. By contrast, most major corporations are heavily layered, bureaucratic, and stifled by complex webs of reporting lines that weigh-down leadership and smother talent.
Directors’ Alert 2017 – Courage under fire: Embracing disruption
Disruption is a topic everyone is talking about. While many organizations fear it, others realize the many opportunities that disruptive technologies, processes, and social norms present. But with every opportunity comes an element of risk – not every disruption will positively impact your enterprise.
FRC issues National Code of Corporate Governance
The Financial Reporting Council of Nigeria (FRC) has issued National Codes of Corporate Governance (the Code) for the private sector, public sector and not-for-profit organisations in Nigeria. The Code, which is effective from 17 October 2016, was issued by FRC following a Federal High Court ruling that FRC has the powers to issue the Codes.