The Financial Reporting Council (FRC) of Nigeria hereby reminds all stakeholders, especially public interest entities (PIEs), professional firms, professional accountants, and other professionals engaged in the financial reporting council process of PIEs, regarding their statutory obligations under the Financial Reporting Council of Nigeria Act No. 6, 2011, as amending (hereinafter to as ”the FRC Act”), the Audit Regulations 2020, and any other Regulations issued by FRC from time to time. sections 33 (1) (a,b,c, & d), 41 (2), and 77 of the FRC Act and Regulations 3 and 14 of the Audit Regulations 2020, underscore the requirement for professionals, entities/firms` registration, and the payment of dues.
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