- 1 Marks
Question
The responsibility for issuing reporting standards in Nigeria is that of …………………………………
Answer
Financial Reporting Council of Nigeria
Explanation: The Financial Reporting Council of Nigeria (FRC) is the regulatory body tasked with setting accounting and financial reporting standards for companies in Nigeria. It ensures that financial statements conform to international and local reporting requirements.
- Tags: Financial Reporting Council, Regulatory Bodies, Reporting Standards
- Level: Level 1
- Topic: Regulatory Environment of Accounting
- Series: MAY 2014
- Uploader: Theophilus