The Financial Reporting Council FRC of Nigeria has announced that registration under the National Audit and Assurance Firms Register will become mandatory from April 1, 2026. The move is designed to strengthen oversight, enhance transparency, and improve confidence in Nigeria’s financial reporting system. The directive applies to all audit and assurance service providers operating within the country.
Under the new requirement, statutory audit firms must register through the Council’s official online portal before the March 31, 2026 deadline. In addition, firms offering assurance-related services must update their regulatory profiles to remain compliant. The regulation extends beyond traditional auditors and includes firms providing actuarial services, business and property valuation, tax assurance, IT systems assurance, compliance reviews, and sustainability reporting.
The Council emphasized that only firms listed on the official Register will be legally permitted to carry out audit or assurance engagements. Any firm that fails to register within the stipulated timeline risks exclusion and potential sanctions under existing financial reporting laws. Engagements conducted by unregistered firms will be considered invalid.
Furthermore, public institutions, government agencies, and private organizations must verify the registration status of audit firms before appointment. Continuous verification will also be required throughout the duration of engagements.
Beginning April 2026, the Register will be published and regularly updated on the Council’s website. The initiative ultimately aims to reinforce accountability and restore trust in Nigeria’s financial reporting environment.
