FRC sets April deadline to enforce audit, assurance firms’ register

The Financial Reporting Council of Nigeria (FRC) has warned audit firms and other assurance service providers who fail to complete their registration before the deadline set for the registration of the National Audit and Assurance Firms Register will not be permitted to operate.

The deadline takes effect from April 1, 2026.

In a statement, the council urged all affected firms to complete their registration, advising them to consult the official platforms for verification and compliance information.

It said the directive is issued pursuant to Sections 28, 60 and 61 of the Financial Reporting Council of Nigeria Act No. 6, 2011 (as amended) and the Audit Regulations 2020.

It added that the registration is part of the council’s ongoing efforts to strengthen public oversight, transparency, and confidence in Nigeria’s financial reporting ecosystem.

According to the FRC, the directive is issued pursuant to Sections 28, 60 and 61 of the Financial Reporting Council of Nigeria Act No. 6, 2011 (as amended) and the Audit Regulations 2020, and follows earlier public notices on the registration and classification of audit and assurance firms.

“Under the new regime, all statutory audit firms and other assurance service-providing firms are required to register or update their regulatory profiles with the Council through its official online portal.

“The requirement extends beyond traditional audit firms to include Assurance Service Providing Firms (AASPFs) whose services involve assurance, attestation, verification, certification, or the issuance of independent opinions relied upon for financial reporting and public-interest purposes,” the statement reads.

According to FRC, the scope of affected firms includes entities providing actuarial services, property and business valuation, financial valuation, tax assurance, information technology and systems assurance, legal advisory services involving assurance-related opinions, corporate governance, compliance, and sustainability assurance services.

“Any engagement carried out by an unregistered firm, the Council said, would constitute a violation of Nigerian law and attract sanctions under the FRC Act and the Audit Regulations,” the statement added.

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