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Posts Tagged: #financialcompliance

The Crucial Role of Financial Statements for Directors: A Comprehensive Insight

 Published filed under Articles.

Introduction In the dynamic landscape of business, where decision-making plays a pivotal role in determining the success or failure of an organization, the importance of financial statements cannot be overstated. For directors, these documents serve as a compass, guiding them through the complex terrain of financial management and strategic planning. I aim to shed light […]

Oil and Gas Taxation Under the Petroleum Industry Act (PIA)

 Published filed under Articles.

The Petroleum Industry Act (PIA) of 2021 is a landmark piece of legislation that has introduced a number of significant changes to the oil and gas sector in Nigeria. One of the most important changes is the new oil and gas taxation regime, which is designed to attract investment in the sector and to ensure […]

Mastering Transfer Pricing: Optimizing Resources and Compliance in Multinational Corporations

 Published filed under Articles.

Introduction The Fundamental Effects of Transfer Pricing The Compliance Imperatives of Transfer Pricing Implications for Business and Compliance Conclusion Transfer pricing is a fundamental strategy that drives resource allocation, coordination, and risk management within MNCs. While it offers substantial benefits, the compliance landscape is equally intricate. Adhering to the arm’s length principle, addressing BEPS concerns, […]

Present Day Value Added Tax (VAT) Challenges and How to avoid them

 Published filed under News, Tips.

Value Added Tax (VAT) is tax on goods and supply which is eventually borne by the final consumer but collected at each stage of the production and distribution chain. In the 2019 Financial Act signed into law by President Muhammadu Buhari, the Finance Act amends the major tax statutes in Nigeria to align with the […]

DUTIES OF AN ACCOUNTANT IN SME

 Published filed under Articles.

Small Medium Enterprise business, commonly known as One-Man business in Nigeria due to the nature and structure of the business, often have elaborate Job functions for the accountant of such companies where the accountant is burdened to take on functions beyond standard accounting duties. There is no delegation of duties. The accountant serves as receivables […]

Why you need an Auditor

 Published filed under Articles.

The auditor provides analysis and ratios that assist management in understanding the financial statement and advice on strategic and precautionary measure.

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