Legal and Ethical Frameworks Governing Professional Accountants in Nigeria: Implications for Financial Reporting Quality

• Author(s): Confidence Eteng ; Munirat Suleiman
• Paper ID: 1708835
• Page: 2232-2238
• Published Date: 04-06-2025
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 8 Issue 11 May-2025

Abstract

This paper critically examines the legal and ethical frameworks that govern the professional conduct of accountants in Nigeria and their implications for the quality of financial reporting. Statutory provisions such as the Companies and Allied Matters Act (CAMA) 2020, the Financial Reporting Council of Nigeria (FRCN) Act 2011, and sector-specific guidelines impose obligations for reliable and transparent financial reporting. Complementary ethical codes prescribed by professional bodies like the Institute of Chartered Accountants of Nigeria (ICAN) and the Association of National Accountants of Nigeria (ANAN) reinforce integrity and accountability among practitioners. Although these frameworks enhance reporting quality, weak enforcement, professional misconduct, and socio-cultural challenges undermine their effectiveness. The paper concludes by recommending strengthened regulatory enforcement, continuous professional education, and institutional reforms to enhance financial reporting integrity in Nigeria.

Keywords

Legal framework, Professional accountants, Financial Reporting Quality

Citations

IRE Journals:
Confidence Eteng , Munirat Suleiman "Legal and Ethical Frameworks Governing Professional Accountants in Nigeria: Implications for Financial Reporting Quality" Iconic Research And Engineering Journals Volume 8 Issue 11 2025 Page 2232-2238

IEEE:
Confidence Eteng , Munirat Suleiman "Legal and Ethical Frameworks Governing Professional Accountants in Nigeria: Implications for Financial Reporting Quality" Iconic Research And Engineering Journals, 8(11)