blogs

Why Excel isn’t a long term solution Excel can do a large number of tasks, is easily available and is very widely used in the world of business. And it would be wrong not to not acknowledge this up front. However, ... Read More
  Ensuring respect for risk Most executives understand the need for controls that alert them to trends and behaviors they should monitor, the better to mobilize in response to an evolving risk situation. And while managers are unlikely to approve of skirting the ... Read More
Why Your Business Needs An Accounting Software Research has shown that over 98 percent of Nigeria’s Micro and small scale businesses do not have formal or what we may call a standard book-keeping culture. While most of ... Read More
    Businesses face a myriad of challenges that leave them vulnerable to many forms of risk, including regulatory, reputational and litigation, among others. Evolving legal and ethical obligations pose constant challenges to a business and often in-house counsel are on the front ... Read More
IFRS Immersion Course For Accountants, Auditors & Finance Personnel This 3-Day IFRS immersion training has been designed to teach in-depth knowledge about IFRS with practical application examples.The training sessions will be led by subject-matter professionals with deep IFRS and Nigeria Statement of Accounting Standards experience. Attendance at this programme will provide the participants opportunity to discuss practical issues on application of IFRS and to ensure effective compliance with IFRS. Certificates will be awarded to all ... Read More
   Indian based accounting solution company, E-trends Technologies India has  signed a partnership deal with PML  advisory limited to provide solution to the  mounting challenges  of managing , controlling and reporting internal  audit  system that are confronting emerging and ... Read More
    A financial plan is a forecast of future performance for a business, usually prepared using spreadsheet software. Small businesses can benefit greatly from taking the time to do a financial plan at least annually. The plan helps a small ... Read More
  An important in the internal auditor's toolbox, risk-based auditing effectively serves the three primary roles of internal auditing — to provide feedback on the adequacy of internal control, to provide a source of information for monitoring risk, and to provide identification and communication ... Read More
  The world has learned the hard way over the past year that most companies have done a bad job of managing risk. And not only banks and investment firms. Accenture’s Global Risk Management Study  found that executives at business enterprises across a wide range of industries believe overwhelmingly that they ... Read More
  External Auditors: An Ally or Opponent? Unfortunately, the finance departments of many companies mistakenly believe that having an external audit annually is part of their internal control structure they can rely on to ensure their financial statements are accurate and their internal controls are sound.   While the objective of an external audit ... Read More

MS Excel is Good But an Accounting Software is Better

Two key regulators and a governance code now require Nigerian Boards to formally demonstrate that their performance is periodically evaluated. PML Professional Services delivers independent, evidence-based Board Evaluations that meet regulatory expectations and are fully prepared for statutory reporting and regulatory submission. NCCG NIGERIAN CODE OF CORPORATE GOVERNANCE Sector covered: All public companies, public-interest private companies and regulated private entities. Requirement: Annual internal board evaluation plus an independent external evaluation at least once every 3 years, with outcomes disclosed as part of the Annual Corporate Governance Report. CBN CENTRAL BANK OF NIGERIA Sector covered: Banks and other CBN-licensed financial institutions. Requirement: Annual evaluation of the board, its committees and individual directors by an independent external consultant. Submission: External consultants must submit the Annual Board Evaluation Report to the Director, FPRD, CBN by May 31 (following the financial year-end) or before the Annual General Meeting, whichever comes first. FRCN FINANCIAL REPORTING COUNCIL OF NIGERIA – CORPORATE GOVERNANCE Sector covered: Every entity subject to the NCCG, across all industries. Requirement: Annual assessment of compliance with the NCCG. Submission: Eligible entities must submit their Corporate Governance Compliance Report through FRCN's reporting portal within three months after the financial year-end. HOW PML DELIVERS YOUR EVALUATION •  Independent Board, committee & Director appraisal •  Skills matrix & Board composition review •  NCCG, CBN & FRCN compliance reporting •  Practical, board-ready improvement roadmap Book your board's evaluation before your next AGM

For More Enquiries, Please Contact: Adeola Adesanya Partner, PML Professional Services aadesanya@pml.com.ng · +234 803 849 9321

JOIN OUR FREE NEWSLETTER