The Federal Government has asked the new Executive Secretary of the Financial Reporting Council of Nigeria (FRCN), Alhaji Adamu Ahmed, to upgrade accounting norms as per its Act.

Otunba Adeniyi Adebayo, Minister of Industry, Trade, and Investment, while initiating the chief secretary on Thursday in Abuja, encouraged the FRCN to accomplish its command as indicated in area eight of its Act by authorizing guidelines. The Minister, in an explanation by his Special Assistant on Media, Mr Ifedayo Sayo additionally charged the board to exhort the Federal Government on accounting and monetary announcing guidelines. He likewise asked the chamber to keep a register of experts in the accounting area identified with the cycle of formation of monetary reports. Adebayo mentioned that the chamber should survey and screen experts in the accounting area, just as the corporate administration monetary papers. He, in any case, brought up that the new leader secretary’s arrangement was on merit dependent on his past accomplishments and encouraged him to guarantee that he left milestone accomplishments toward the finish of his tenure.

“You are thusly expected to release your obligations as per the guidelines and guidelines set down in the Act building up the gathering and Extant Rules,” he reprimanded. Reacting, Ahmed vowed to guarantee that FRCN satisfied hopes under his administration and recorded spaces of his need to incorporate implementation, tasks, and financing of the board. He recorded different spaces of need to incorporate management and joint effort with administrative bodies like the Security and Exchange Commission, Central Bank of Nigeria, National Pension Commission, and Corporate Affairs Commission. He noticed that the committee, being the summit administrative office for monetary detailing and corporate administration, its activities, and inactions may make or blemish nearby and unfamiliar financial backers’ trust in the country’s economy.