Wednesday, April 14African Business News
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Audit regulation will boost investors’ confidence, attract FDIs

Audit regulation will boost investors’ confidence, attract FDIs

Finance
The Financial Reporting Council of Nigeria (FRC), has said the 2020 Audit Regulation Exposure draft would boost investor confidence and attract Foreign Direct Investments (FDIs) into the country, as it would provide increased transparency for investors and stakeholders. According to the Council, the regulation would provide a strong independent public oversight needed in creating and maintaining trust in the work of auditors, by providing safeguards for companies and investors. Specifically, Executive Secretary/Chief Executive Officer, FRC, Daniel Asapokhai, said the financial crisis has demonstrated the need to embed robust and transparent audit practices in all organizations, noting that the audit regulation is an enabler for re-establishing the much-needed trust in the audit...