Data Protection Audit is a systematic examination carried out in order to ascertain whether an organization's processing of personal data is compliant with data protection laws applicable to the data processed.

Data has emerged and has grown popular with its description as the NEW OIL, with particular efforts made to safeguard its use and protection in society. However, Nigeria is not behind in this trend with the release of the...

The Federal Inland Revenue Service (FIRS) has released guidelines to provide clarity regarding the nature and extent of inquiries related to desk examinations, tax audits, tax investigation...

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 new directive which requires all non-resident companies to submit audited accounts and actual profit tax computations may create practical challenges.

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...

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

The rise of sustainability reporting has sparked apprehension among stakeholders and investors regarding its credibility.

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

MNEs typically have integrated business operations which allow related entities to benefit from business advantages from either cost saving or relative administrative ease which helps to maintain or improve their overall competitiveness.

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.

President Muhammadu Buhari, on 13 February 2023, signed the Business Facilitation Bill 2022, otherwise known as the Omnibus Bill into law.

Discover the transformative power of effective record-keeping and explore practical solutions to overcome the challenges faced by SMEs.

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

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,...

In 2016, President Muhammadu Buhari (the "President") inaugurated the Presidential Enabling Business Environment Council ("PEBEC") with the aim to actively "remove bureaucratic constraints...

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.

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...