Pursuant to Section 29 (a-g); Section 73 and other relevant provisions of the FRC Act 2011 (as amended), FRC has developed a draft Valuation Regulations for Financial Reporting, 2024, that would provide a regulatory framework for valuers in Nigeria offering valuation services for the purpose of Financial Reporting, is now in the Exposure Draft (ED) phase of the FRC Statutory Regulatory document development stage.
The primary objectives are to provide a regulatory framework for valuers in Nigeria offering valuation services for the purpose of financial reporting in compliance with the provisions of the FRC Act 2011 (as amended) and regulate the activities of valuers with a view to sustaining best ethical practices capable of promoting quality valuation services for the purpose of financial reporting.
The FRC now seeks to engage stakeholders in the valuation industry as a further mandatory step to issuance of the Regulations. We hereby request all Professionals, Relevant Professional Bodies (RPBs), Valuation Firms, Organisations, Businesses, etc to provide documented comments and feedback on the Draft Valuation Regulation for Financial Reporting, 2024, to FRC on or before Tuesday, December 3, 2024, to dvs@frcnigeria.gov.ng.
Kindly download the Draft Valuation Regulations for Financial Reporting, 2024, using the link below:
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