The Financial Reporting Council of Nigeria (FRC), in partnership with Planet Governance Advisory Limited (PGAL), recently held a two-day training on managing governance, risk, and compliance (GRC) concerns in Lagos. There, the organizations stressed the need for the financial sector to adopt effective and efficient GRC processes using a risk-based approach.
The training sought to impart an understanding of organizational culture and how it can be improved across sectors. In attendance were professionals at all levels of seniority, including board members, risk managers, compliance personnel, and internal auditors.
The course covered key areas, including an introduction to GRC, an overview of the Nigerian Corporate Governance Code (NCCG) 2018, compliance risk management, regulatory environments, operational risk management, resilience, and contemporary corporate governance developments.
The FRC is responsible for developing and publishing accounting and financial reporting standards for public entities in Nigeria. It also seeks to promote good corporate governance practices in both the public and private sectors of the Nigerian economy.