Ecovis OUC (Chartered Accountants) has established a technical committee to assist clients in navigating the complex and ever-changing regulatory and business environment.

Managing Partner of Ecovis, Andrew Uviase, in his remarks at the inauguration of the committee, said: “As a professional firm in public practice, we have a responsibility to our stakeholders to ensure that we are up to date with the current developments in regulations, laws and standards that guide the profession.

“The technical committee is therefore a deliberate attempt by the firm to stay current in the regulatory environment and continue to provide cutting-edge professional services to our discerning clients.”

Uviase explained that the technical committee is a forum for collecting up-to-date developments in the legal and regulatory environment for professional practice.

“The committee will guide the reporting department on the requirements for published accounts. They will assist the reporting department to ensure that the financial statements produced for clients comply with the requirements of the International Financial Reporting Standards (IFRS), Companies and Allied Matters Act (CAMA), Financial Reporting Council of Nigeria (FRCN) and any other specific requirements of the applicable sector.

“It will provide support and guidance to members of staff on issues bordering on tax and compliance to ensure that the Firm is always abreast with current developments. The committee is responsible for overseeing the firm’s implementation of the newly introduced sustainability reporting to ensure that our Financial Statements are compliant,” he added.

Chairman of the Ecovis OUC Technical Committee, Henry Dugbele, said: “The creation of the Technical Committee is a vital step toward strengthening our foundation and ensuring that we continue to evolve with the ever-changing landscape of the audit and assurance profession.

“In an ever-changing industry like ours with new technologies, regulations and client expectations emerging constantly, it is essential that we stay ahead of these changes. As the committee, our job will be to ensure that we integrate the best practices, knowledge, and tools available to keep ahead of stiff competition in this field.”