What is SCUML Certificate? SCUML stands for the Special Control Unit against Money Laundering, and it operates under the Economic and Financial Crimes Commission (EFCC) in Nigeria. SCUML registration is required for different entities engaged in certain designated non-financial businesses…
The Role of Auditing and Internal Controls What is Auditing? Auditing is a systematic process of examination and evaluation conducted by independent professionals to verify the accuracy, reliability, and completeness of financial information, transactions, systems, and processes within an organization.…
What is Forensic Auditing? Forensic auditing is a specialized field of accounting that focuses on investigating financial records, transactions, and activities to uncover fraud, embezzlement, financial misstatements, and other irregularities. It involves applying accounting, auditing, and investigative techniques to analyze…
3 Deadly Mistakes to Avoid as a Business Owner in Nigeria
What are Intangible Assets? What are Intangible Assets? They are the intellectual property a company owns that they can use to generate value for the business over time. Intangible assets are those assets that are not available in physical form…
POS Operators CAC Registration The Federal Government of Nigeria has issued a directive that all point of sale (POS) operators get registered with the Corporate Affairs Comission or risk prosecution. Registration must be done before 7th of July, 2024 …
CBN Introduces Cybersecurity Levy on Electronic Transactions In a bid to fortify Nigeria's digital financial ecosystem against evolving cyber threats, the Central Bank of Nigeria (CBN) has mandated all banks to implement a 0.5% cybersecurity levy on electronic transactions within…
What is Dun and Bradstreet? Dun & Bradstreet (D&B) is a global provider of business information and insights. Founded in 1841, it is one of the oldest and most well-known business data companies in the world. Dun & Bradstreet collects,…
What Is Financial Accounting? Financial accounting is a specific branch of accounting involving a process of recording, classifying, summarizing, and reporting the myriad of transactions resulting from business operations over a period of time. These transactions are summarized in the…
ROLES AND ADVANTAGES OF PENCOM IN NIGERIA The National Pension Commission (PENCOM) started the issuance of Pension Clearance Certificates (PCC) to organizations in 2012. The PCC is evidence of compliance with the PRA 2014 and a prerequisite for all suppliers,…