The Financial Reporting Council of Nigeria (FRC) has announced a strict new compliance requirement for audit and assurance providers in the country. The regulator said it will begin enforcing the National Audit and Assurance Firms Register on 1 April 2026. This means that from that date, only firms listed on the official register will be allowed to carry out audit or assurance work in Nigeria.
Registration will be compulsory for all audit firms and all other firms offering assurance services. According to the FRC, these services include assurance, attestation, verification, certification, or the issuance of independent opinions used in financial reporting and public-interest decisions.
The Council said the requirement is part of ongoing efforts to strengthen oversight, improve transparency, and boost confidence in Nigeria’s financial reporting framework. FRC noted that the move follows provisions of the Financial Reporting Council of Nigeria Act and the Audit Regulations 2020.
Under the new framework, firms must register or update their regulatory profiles through the Council’s official online portal. Firms that fail to register by 31 March 2026 will not appear on the National Audit and Assurance Firms Register.
The FRC made it clear that only firms on the register will be legally permitted to undertake audit or assurance engagements in Nigeria. Firms not listed will be in breach of Nigerian law, and any work they perform after April 1, 2026 will be considered unlawful.
The Council also issued a compliance reminder to public institutions, regulated entities, private organisations, and other reporting bodies. From the enforcement date, it will be illegal for these organisations to engage any audit or assurance provider that is not listed on the register.
“Reporting entities are required to verify the registration status of both the audit firm and the signing audit professional before appointment and throughout the duration of any engagement, as the register is reopened annually,” the FRC stated in its public notice.
The FRC warned that engagements performed by unregistered firms will be treated as invalid, and regulators may impose sanctions not only on the unregistered firm but also on the entities that engaged them.
This new requirement extends beyond traditional audit firms. Firms that provide actuarial services, valuations, tax assurance, information technology assurance, legal advisory services involving assurance opinions, corporate governance, sustainability assurance, and similar services are all included in the registration mandate.
The requirement also applies to assurance service firms that offer non-audit services but whose work still affects financial reporting or public confidence. All these firms must register or update their details through the FRC’s portal before the deadline.
Firms that delay or ignore registration risk being excluded from the list of authorised providers and face possible legal action. The FRC urged all affected firms to complete their registration steps promptly and advised stakeholders to consult the Council’s official communication channels for further details and support.
This move reflects a broader regulatory push to professionalise audit and assurance practice in Nigeria and ensure that all service providers meet formal standards before operating.
