CAC holds stakeholder workshop to review Standard Financial Accounts Reporting

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A Stakeholder Workshop to review and finalize the Standard Financial Accounts Reporting Templates for Corporate Affairs Commission’s Financial Account Filing System has been held in Abuja.

The Workshop is pursuant to the Collaboration between the European Union (EU), British Council, Agents for Citizen-Driven Transformation (EU-ACT) and the CAC to deploy a Financial Account Filing System for Companies on the Companies Registration Portal (CRP).

The one day Workshop drew participants from sister Agencies such as the Special Control Unit Against Money Laundering (SCUML), Financial Reporting Council (FRC), Chartered Institute of Taxation (CITN) and several Non Governmental Agencies (NGOs) which include Centre for Democracy and Development, Cleen Foundation, Albino Foundation and Policy & Legal Centre amongst others.

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High point of the event was the presentation of a Draft Financial Reporting Template from the CAC anchored by Mr. Dauda Umar Gombi of the CAC Finance and Accounts Department. The detailed draft presentation was subjected to debate and modifications.

Damilola Awe of Centrifuge Information Technology Limited, the Software Developer, in a remark at the end of the event pledged to ensure that the application was structured to be simple and user friendly amongst others.

Speaking on behalf of the Registrar General/CEO of the CAC,Alhaji Garba Abubakar, the Head ICT, CAC, Ambrose Obeta applauded the active participation of the Stakeholders, critiques and contributions and prayed that the end product will be world class.

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The Stakeholders are expected to reassemble and finalize work on the financial reporting template for the NGOs and others before full deployment on the CAC’s Companies Registration Portal (CRP).

It would be recalled that the Corporate Affairs Commission commenced the implementation of the CAMA, 2020 on 3rd January, 2021.

Shortly after the commencement of the implementation the CAC in January, 2021 signed a memorandum of understanding with the Citizen Driven Transformation (EU-ACT) to further complement the efforts of the Commission towards achieving full implementation of the CAMA, 2020.

When fully deployed, the Financial Account Filing System for Companies on the Companies Registration Portal (CRP) will become another milestone achievement for the Alhaji Garba Abubakar led CAC.

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