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Auditing fair value measurements can be daunting due to the high level of uncertainty involved.

The introduction of the electronic money transfer levy ("EMT levy" or "the levy") through the Finance Act, 2020 (the Act) has replaced the previous stamp duty on electronic receipts or electronic transfers.

As envisaged at the beginning of the year, 2022 has witnessed a significant increase in Transfer Pricing (TP) audits. In recent months, there has been a significant drive by the Federal Inland...

On Saturday, 2nd December 2023, a wheelbarrow pusher stabbed a government revenue official in Benin City (Edo State) and instantly turned the same knife on himself.

The 2020 Financial Year (FY) was an unprecedented year for most taxpayers in Nigeria due to the economic impact of the COVID-19 pandemic. Companies were faced with various unexpected disruptions to business...

The recent revenue drive arising from fall in oil prices and the need to diversify Nigeria's revenue away from oil to non-oil sources, such as taxation, has led to increase in the frequency of tax audits and investigations ...

Exploring the intricate link between technology and audit, this article investigates how this evolution is poised to reshape financial practices.

The Nigeria Data Protection Act 2023 (the "NDPA" or the "Act") creates certain compliance obligations for data controllers and data processors.

In recent years, transfer pricing (TP) has emerged as a significant concern for multinational enterprises (MNEs) operating in Nigeria. With the Nigeria Revenue Service (NRS) (formerly Federal Inland Revenue Service) intensifying efforts to generate revenue through taxation, taxpayers face heightened scrutiny, prolonged audits, and increasing risk of double taxation.

In performing its functions as stipulated in the Nigeria Data Protection Act (NDPA) 2023, the Nigeria Data Protection Commission (NDPC) recently issued a Guidance Notice ...

In the last three (3) years, there has been a significant increase in the number of Transfer Pricing (TP) audits conducted by the Federal Inland Revenue Service (FIRS).

The Nigeria Data Protection Regulation 2019 (NDPR) provides that organisations processing personal data must engage the services of a Data Protection Compliance Organisation...

In 1993, the Federal Inland Revenue Service (FIRS) announced uniform basis and rate for taxation of income derived by Non-Resident Companies (NRCs)

More than ever before, financial statement users are relying on the judgement and opinion of auditors to make calculated decisions.

It comes as no surprise that Nigerian entities are net recipients of intercompany loans from their related parties in other jurisdictions. Nigerian entities enter such financial...

In the early part of this decade, the global landscape was revolutionized by the COVID-19 pandemic which led to a change in companies' business strategy. The pandemic forced the organizations to switch to remote work.

Business entities have many objectives, including making a profit and, to a large extent, maximising stakeholders' interests. Business risks such as a harsh business environment,...