In this article, we have discussed the accounting recognition and measurement requirements for Rights-of-Use asset and the related lease liability as well as the current and deferred tax considerations for the lessee.

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)

This article explores some of the changes introduced by the new standard in accounting for financial assets and possible tax implications.

Conducting business in Nigeria may present a range of complexities, particularly for companies engaged in cross-border transactions.

As the drive to increase government revenue continues in Nigeria, taxes have taken a bigger role in generation of the income to fund the budget.

With the beginning of a new year comes the requirement to adhere to various regulatory and compliance provisions governing their sector generally and specifically.

Effective internal control as a critical aspect in an organisation became more pertinent for business functions in the early 2000s when accounting scandals were prominent in companies in the United States of America (USA).

Perhaps one of the most important tasks for every government in the world is to provide the enabling framework for social security, which may include retirement benefits, health insurance, and disability cover for its citizens.

On July 24, 2014, the International Accounting Standard Board ("IASB") launched the International Financial Reporting Standard 9 ("IFRS 9")

A public address [by Dr. Edmund Daukoru, Nigeria’s Presidential Adviser on Petroleum and Energy] flagged off the 2005 bid rounds for 63 oil and gas blocks spread across Nigeria’s onshore and deep off shore.

The current administration has taken steps to implement its decision to generate the fiscal revenue required to leapfrog Nigeria's economy out of the current depressed level.

For more than a decade, public companies in the USA, Canada, Brazil, Turkey, and more have been required to implement Internal Control over Financial Reporting, especially as part of issuer audits.

One of the important operating decisions a company makes is the establishment of a model for setting the prices of its products and services.

This article aims to change the public's perception of the value of the external auditing exercise significantly, how the audit methodologies provide more value-added benefits to businesses...

On 10th November 2021, the Federal Inland Revenue Service (FIRS) issued a fresh Information Circular on Extension of the Meaning of "In Use"[1] ("the Circular").

With the effects of the COVID-19 pandemic taking centre stage in the world at the moment, there has been an increase in Not-for-Profit Organisations ("NFPOs" or "Not-for-Profit") springing up...