The Association of National Accountants of Nigeria has signed a Memorandum of Understanding with the Financial Reporting Council of Nigeria, which grants ANAN the instrument of delegation to supervise and monitor licensed auditing firms in Nigeria.
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…