The Financial Reporting Council (FRC) of Nigeria will begin enforcing the National Audit and Assurance Firms Register from April 1, 2026, making registration compulsory for all audit and assurance service providers operating in Nigeria, in a move aimed at strengthening oversight, boosting transparency and tightening compliance across the country’s financial reporting landscape.
The enforcement directive was disclosed in a public statement on Monday, February 9, 2026, as part of the Council’s ongoing efforts to strengthen public oversight, transparency, and confidence in Nigeria’s financial reporting ecosystem.
According to the FRC, the directive is issued pursuant to Sections 28, 60 and 61 of the Financial Reporting Council of Nigeria Act No. 6, 2011 (as amended) and the Audit Regulations 2020, and follows earlier public notices on the registration and classification of audit and assurance firms.
Under the new regime, all statutory audit firms and other assurance service-providing firms are required to register or update their regulatory profiles with the Council through its official online portal. The requirement extends beyond traditional audit firms to include Assurance Service Providing Firms (AASPFs) whose services involve assurance, attestation, verification, certification, or the issuance of independent opinions relied upon for financial reporting and public-interest purposes.
The FRC clarified that the scope of affected firms includes, but is not limited to, entities providing actuarial services, property and business valuation, financial valuation, tax assurance, information technology and systems assurance, legal advisory services involving assurance-related opinions, corporate governance, compliance, and sustainability assurance services.
As part of the enforcement framework, the Council disclosed that it will publish the National Audit and Assurance Firms Register on its website from 1 April 2026, with regular updates thereafter. Firms that fail to complete registration or update their status on or before March 31, 2026 will not be listed on the Register.
The FRC warned that only firms listed on the Register will be legally permitted to undertake, accept, or continue audit or assurance engagements in Nigeria. Any engagement carried out by an unregistered firm, the Council said, would constitute a violation of Nigerian law and attract sanctions under the FRC Act and the Audit Regulations.
In addition, the Council issued a strong compliance warning to Public Interest Entities, government institutions, regulated entities, and private organisations, stating that it will be unlawful from April 1, 2026 to engage any audit or assurance service provider not listed on the Register.
Reporting entities are required to verify the registration status of both the audit firm and the signing audit professional prior to appointment and throughout the duration of any engagement, as the register is reopened annually. The FRC noted that audit or assurance engagements conducted by unregistered firms will be deemed invalid, with regulatory sanctions applicable to the engaging entities and their responsible officers.
The Council urged all affected firms to complete their registration promptly and advised stakeholders to consult its official platforms for verification and compliance information.
