Restoring integrity in the financial reporting process: Examining rule 14 of the Financial Reporting Council Rules

Nigeria: The Financial Reporting Council of Nigeria (“FRCN”) on the 22nd of January 2025, announced the introduction of Rule 14 on Non-Compliance with Laws and Regulation (“Rule 14”). This announcement is further to its mandate to develop and publish accounting and financial reporting standards to be observed in the preparation of financial statements in Nigeria.

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