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Voluntary Assets and Income Declaration Scheme

In February 2017, the Nigerian Federal Executive Council (FEC) approved the National Tax Policy. In furtherance of this, the Acting President of Nigeria, Professor Yemi Osibanjo issued an executive order on the 30th of June 2017 by virtue of the constitutional powers vested in him ordering the Federal Ministry of Finance to set up the Voluntary Assets and Income Declaration Scheme (VAIDS).

Institute of Chartered Accountant of Nigeria Adopts New Standard On Corporate Governance

In a bid to enhance corporate governance and check corrupt practices in accounting ethics and practices, the International Federation of Accountants (IFAC) has adopted a new accounting standard for professional accountants and auditors. Professional accountants now have to act in the public interest by complying with the Codes and its principles, which include integrity and confidentiality.

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