Nigerian Accounting Standards Board Act

Arrangement of Sections

3. (d) the Executive Secretary of the Board.

7. (i) perform such other duties which in the opinion of the Council, are necessary or

10. after consultation with the Federal Civil Service Commission.

11. regulations, under section 23 thereof, is hereby vested in and shall be exercisable by the

12. the Federal Gazette but the Board shall cause a notice of the staff regulations to be issued

13. Financial Provisions

14. the Board; and

15. be given in that behalf by the Minister in accordance with the provisions of this Act; and

16. guidelines supplied by the Auditor-General of the Federation.

17. during the immediate preceding year, and shall include in the report, a copy of the audited accounts of the

18. Investments

19. time, be approved by the Minister.

20. Inspectorate Unit

21. an integral part of the Board.

22. time to time.

23. Offences

24. (b) in the case of a firm of accountants to outright proscription or de-listing for

25. Legal Proceedings

26. (d) the relief which he claims.

27. delivering it to the Executive Secretary or by sending it by registered post addressed to

28. Board shall, subject to any direction given by the Court, where no notice of appeal

29. Miscellaneous

30. or his functions as it or he may consider necessary and the Board or the Executive Secretary shall

31. The Minister may, on the advice of the Council, make such regulations as in his opinion are necessary or

32. Commerce; and

PART I

Establishment of the Nigerian Accounting Standards Board

SECTION

Establishment of the Nigerian Accounting Standards Board.

Establishment and membership of the Governing Council.

Tenure of office.

Cessation of membership.

Emoluments, etc., of members.

Functions of the Board.

Powers of the Board.

Development of statement of accounting standards.

PART II

Staff of the Board

Executive Secretary and other staff of the Board.

Pensions.

Staff regulations.

Borrowing power, etc.

PART III

Financial Provisions

Establishment of the Fund of the Board.

Expenditure of the Board.

Annual estimate and accounts.

Annual reports.

Powers to accept gifts.

Investments.

Exemption from tax.

PART IV

Establishment and Functions of the Nigerian Accounting Standards Board