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Financial Reporting Council The independent regulator for promoting confidence in corporate reporting and governance
Financial Reporting Council>About Us>Mission, Vision and values

Mission, Vision and values

Our Vision:
 
To be a model organization ensuring quality in auditing, financial and non-financial reporting.
 
Our Mission:
 
To bring corporate confidence in auditing, financial and non-financial reporting among users of financial statements.
 
Our Objects as per Financial Reporting Act 2004:
 
  • To promote the provision of high quality reporting of financial and non-financial information by public interest entities;
  • To promote the highest standards among licensed auditors;
  • To enhance the credibility of financial reporting; and
  • To improve the quality of accountancy and audit services

 

Our Customers are:
 
  • Public Interest Entities
  • Listed Companies
  • State Owned Enterprises
  • Regulatory Bodies
  • Auditors
  • Professional Accountants
  • Government
  • General Public

 

Our Functions:
 
  • Licensing of Auditors
  • Approving Audit Firms
  • Audit Practice Review
  • Financial / Non-Financial Reporting Review

 

Our Objectives are:
 
  • Ensure adherence to International Financial Reporting Standards (IFRS) and International Standards of Auditing (ISA);
  • Ensure compliance with code of corporate governance
  • Provision of training/ seminars to facilitate implementation of accounting standards
  • Encourage feedback from all stakeholders to improve quality audit and financial and non-financial reporting