Finance
NAICOM insists financial statements must be IFRS-compliant in 2012
Mr Nicholas Opara, Acting Director, Supervision, National Insurance Commission (NAICOM), says the commission will insist that all financial statements in the country must comply with the International Financial Reporting Standard (IFRS) with effect from 2012. Opara said on Friday in Ijebu-Ode, Ogun that the government approved 2012 as effective date for the compliant period and that NAICOM was obliged to achieve it.
According to him, the Commission is doing all it can to ensure that the insurance industry transit effortlessly to IFRS in 2012.
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