The Financial Reporting Council of Nigeria (FRC) is a federal regulatory agency established under the Financial Reporting Council of Nigeria Act 2011. The FRC is dedicated to promoting transparency and integrity in financial reporting across both public and private sectors in Nigeria. Its core functions include issuing and enforcing standards related to accounting, auditing, valuation, and corporate governance.

With a commitment to engaging various stakeholders, including professional accounting bodies and external auditors, the FRC evaluates critical financial reporting standards such as IAS 29, especially in the context of Nigeria's inflationary economic climate. The council also plays a proactive role in regulatory compliance, as evidenced by its introduction of Rule 14, which strengthens the responsibilities of external auditors in relation to non-compliance with laws and regulations.

The FRC provides access to resources including guidelines for registrations across different sectors, annual reports, and insights from its webinars and workshops that focus on enhancing the financial landscape of Nigeria. Through these efforts, the FRC aims to bolster the overall integrity of financial practices in the country.