FRCN seeks detailed review of financials
Oando Plc has announced that the 2017 full year result will be delayed due to request by the Financial Reporting Council of Nigeria (FRCN ), to undertake a more detailed review of the company ’s results .
Oando in a press statement on its website , said : “ The Financial Reporting Council of Nigeria (FRCN ) has indicated interest in undertaking a more detailed review of the Company’ s Audited Financial Statements (AFS ), as part of their statutory review due to the issues raised by the recent investigation of the Company by the Securities and Exchange Commission (SEC).
“ We envisage that the FRCN ’s review might take longer than originally anticipated . Therefore, the company may not be able to file the accounts until the second week in May , the exact date of filing will be dependent on the turnaround time at the FRCN .”