The Impact Investors Foundation in collaboration with the Global Steering Group for Impact Investment and the Financial Reporting Council of Nigeria has boosted the capacity of over 100 MSMEs, financial and sustainability professionals in the public and private sectors in the adoption of the new International Sustainability Standards Board’s IFRS Sustainability Disclosure Standards. The workshops had representatives of listed and large corporates, SMEs, enterprise support organisations, investors, chambers of commerce, policymakers, financial regulators, professionals of the accounting profession, and academia in attendance. The Director/Head of the Directorate of Public Sector Accounting Standards, Financial Reporting Council of Nigeria, Dr Iheanyi Anyahara, encouraged organisations in Nigeria to embrace early adoption of the standards to benefit from the opportunities. He explained that the Federal Executive Council passed a resolution in 2010 that Nigeria should adopt global standards on accounting and auditing-related matters. He remarked that having a single set of high-quality global sustainability reporting standards being issued by the ISSB had immense benefits.

Source: Punch February 19, 2024 10:02 UTC