The body responsible for setting accounting and auditing standards in Nigeria is the:
AInstitute of Chartered Accountants of Nigeria
BFinancial Reporting Council of NigeriaCORRECT
CSecurities and Exchange Commission
DCorporate Affairs Commission
ICANAudit & AssuranceRegulatory and Ethical Framework2025
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Why the answer is B, and why the others tempt you.
The Financial Reporting Council of Nigeria issues and enforces accounting, auditing and corporate governance standards. ICAN regulates its members, while the SEC and CAC have separate regulatory mandates.
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