Yesterday, Nigeria's Financial Reporting Council (FRC) hosted its inaugural Audit and Assurance Providers' Leadership Summit. In his keynote address, FRC CEO Dr. Rabiu Olowo announced that the regulator was taking steps to be more proactive in improving audit quality and preventing fraud.
"Enormous sums of money are lost every year by investors to fraud and corporate collapse," Olowo said. "Nigerian investors have lost several billions of dollars because of companies that falsified and deliberately overstated their accounts and consequently failed or got into serious trouble."
This content is available to paid Members of Starling Insights.
If you are a Member of Starling Insights, you can sign in below to access this item.
If you are not a member, please consider joining Starling Insights to support our work and get access to our entire platform. Enjoy hundreds of articles and related content from past editions of the Compendium, special video and print reports, as well as Starling's observations and comments on current issues in culture & conduct risk management.
Join The Discussion