We are now several years into sweeping changes to the audit market. Most of the regulatory direction has focused on the structure of the market while standard setters have looked at enhancing quality in audit, as well as providing comfort to end users and stakeholders.

The audit profession has had to deal with a perception that, at times, the relationship between auditor and client has become too cosy and created a culture within audit organisations where issues aren’t challenged robustly enough with those they audit.

In fulfilment of his promise to issue a Finance Act annually to accompany the nation’s budget, the President, Muhammadu Buhari presented the 2020 Finance Bill to the National Assembly on 8th October 2020. According to the President, the Finance Bill would support the implementation of the 2021 budget through key reforms in taxation, customs, excise, fiscal and other laws. After extensive stakeholders’ engagement, the Bill was passed by both houses of...