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Chuks Udo Okonta
The National Pension Commission (PenCom) is pushing for the publications of evidences of compliance with the Pension Reform Act (PRA) 2014 in companies’ financial statements, Inspen can report.
The Commission said it is working with the Financial Reporting Council (formerly Nigeria Accounting Standard Board), through a Joint Committee, to include report on compliance with the provisions of the PRA 2014 as part of the disclosure requirements in Audited Financial Statement of all organisation that employ a minimum of three staff.
“While the Committee is yet to conclude its work, it is expected that the new International Financial Reporting Standards (IFRS) would include this requirement,” PenCom posited.