An accounting firm, Ecovis OUC, has established a technical committee to assist clients in navigating the complex and ever-changing regulatory and business environment.
Managing Partner of Ecovis OUC, Andrew Uviase, in his remarks at the inauguration of the committee, said the firm’s duty as an organisation of professional accountants is influenced by regulations, standards, and laws.
He said, “As a professional firm in public practice, we have a responsibility to our stakeholders to ensure that we are up to date with the current developments in regulations, laws, and standards that guide the profession.
“The technical committee is, therefore, a deliberate attempt by the firm to stay current in the regulatory environment and continue to provide cutting-edge professional services to our discerning clients.
Uviase explained that the technical committee is a forum for collecting up-to-date developments in the legal and regulatory environment for the company’s professional practice.
He added, “The committee will guide the reporting department on the requirements for published accounts. They will assist the reporting department to ensure that the financial statements produced for clients comply with the requirements of the International Financial Reporting Standards, the Companies and Allied Matters Act, the Financial Reporting Council of Nigeria, and any other specific requirements of the applicable sector.
“It will provide support and guidance to members of staff on issues bordering on tax and compliance to ensure that the firm is always abreast with current developments.
“The committee is responsible for overseeing the firm’s implementation of the newly introduced sustainability reporting to ensure that our financial statements are compliant.”
Chairman of the Ecovis OUC Technical Committee, Mr Henry Dugbele, disclosed that the creation of the technical committee is a vital step towards strengthening the company’s foundation and ensuring that it continues to evolve with the ever-changing landscape of the audit and assurance profession.
He explained, In an ever-changing industry like ours with new technologies, regulations, and client expectations emerging constantly, it is essential that we stay ahead of these changes.
“As the technical committee, our job will be to ensure that we integrate the best practices, knowledge, and tools available to keep ahead of stiff competition in this field.
“Although we will also be focusing on more than just technical excellence, we must embrace innovation while remaining committed to the core values of ethics and integrity that have always guided us.”
Other members of the committee are Chidubem Ibe, Tax and Regulatory Services; Folorunsho Oluwakemi, Compliance Services; Michael Aghwana, Transfer Pricing and International Tax; and Moyo Pajia, Financial Reporting Services.
