Yakub02
Banned
The Nigerian Stock Exchange is regulated by the Securities and Exchange Commission and subject to its regulations.
Securities and Exchange Commission (SEC) Companies wishing to be admitted to the official list of the Nigerian Stock Exchange must, in addition to complying with the exchange’s listing rules, comply with the relevant provisions of the Companies and Allied Matters Act 2020 and the Investment and Securities Act, 1999 Rules and Regulations.
The SEC regulations contain the following requirements with respect to interim reporting. Quarterly report Public quoted companies are required prepare a report prepared in accordance with IFRS.
Therefore, IAS 34 applies. The report must be filed with the commission and simultaneously with the relevant securities exchanges and the investing public within 30 days of the end of the quarter.
The report must be accompanied by a certification letter signed by the chief executive officer and chief financial officer.
The quarterly report must contain the following by way of notes accounting policy changes; seasonality or cyclicality of operations; Changes in estimates; issuance, repurchase and repayment of debts and equity securities; dividends; items of segment information;
significant events after the end of the interim period; business combinations; long term investments; restructuring and reversals of restructuring provisions; discontinuing operations; correction of prior errors;
write down of inventory to net realizable value; the impairment loss of property, plant and equipment intangible or other assets and reversal of such impairment loss; the litigation settlements; any debt defaults or any breach of a debt that has not been corrected
Securities and Exchange Commission (SEC) Companies wishing to be admitted to the official list of the Nigerian Stock Exchange must, in addition to complying with the exchange’s listing rules, comply with the relevant provisions of the Companies and Allied Matters Act 2020 and the Investment and Securities Act, 1999 Rules and Regulations.
The SEC regulations contain the following requirements with respect to interim reporting. Quarterly report Public quoted companies are required prepare a report prepared in accordance with IFRS.
Therefore, IAS 34 applies. The report must be filed with the commission and simultaneously with the relevant securities exchanges and the investing public within 30 days of the end of the quarter.
The report must be accompanied by a certification letter signed by the chief executive officer and chief financial officer.
The quarterly report must contain the following by way of notes accounting policy changes; seasonality or cyclicality of operations; Changes in estimates; issuance, repurchase and repayment of debts and equity securities; dividends; items of segment information;
significant events after the end of the interim period; business combinations; long term investments; restructuring and reversals of restructuring provisions; discontinuing operations; correction of prior errors;
write down of inventory to net realizable value; the impairment loss of property, plant and equipment intangible or other assets and reversal of such impairment loss; the litigation settlements; any debt defaults or any breach of a debt that has not been corrected
