Africa: Accounting and Audit

The Nigeria Data Protection Act and the General Application and Implementation Directive provide a comprehensive legal framework for the protection of personal data in Nigeria. The Act applies its provisions to data controllers and processors domiciled, resident, or operating in Nigeria, with the principal exception being processing undertaken solely for personal or household purposes.

The Supreme Court of Nigeria has settled a long-standing controversy in the accountancy profession regarding whether audit firms can validly sign audit reports in their corporate name, or whether only individual chartered accountants should sign such reports. This landmark decision reverses a 2010 Federal High Court ruling and has profound implications for professional accountability, disciplinary measures, and the future structure of Nigeria's accountancy profession.

Tax audit readiness in Nigeria is really about being so organised that Nigeria Revenue Service (NRS) or State IRS (like LIRS) never catches you unprepared, even if they show up tomorrow morning at your door step. In this article, we will walk through what that looks like in practice, from the complete document checklist to how to respond to queries without panicking.

Sustainability reporting in South Africa is undergoing significant transformation as global standards converge with local governance frameworks. The introduction of IFRS Sustainability Disclosure Standards, together with the King V Code, presents organisations with an opportunity to strengthen governance, improve decision-making and enhance corporate reporting credibility. As investor expectations evolve and regulatory scrutiny increases, organisations face growing pressure to provide sustainability informa

The issuance of the General Transition Guidelines for the Tax Acts 2025 provides long-awaited clarity on one of the most significant tax reforms in Nigeria's recent history. This Client Alert examines the practical implications for businesses navigating the transition to the new tax regime, including treatment of accounting periods, transaction taxes, ongoing contracts, tax incentives, disputes, and compliance obligations.

Mining companies face critical accounting decisions during the development phase, particularly regarding IAS 16 Property, Plant and Equipment compliance. Understanding what constitutes directly attributable costs, how to treat incidental revenue from pre-production extraction, and when to cease capitalisation can significantly impact financial reporting accuracy and regulatory compliance.