Back in 2021, the Agents for Citizen-driven Transformation (ACT) programme supported the Corporate Affairs Commission (CAC) to develop an online financial accounts filing system for corporate bodies, including CSOs.
In January 2022, CSOs met with the CAC and the Financial Reporting Council (FRC) to discuss the minimum filing requirements and the upcoming deadline to submit financials to the CAC’s Online Financial Accounts Filling System by 28 February 2022.
CSO stakeholders also worked with both parties to develop a standard reporting template for filing financial reports to the CAC. The initiative aims to improve CSO compliance with the Company and Allied Matter Acts 2020 (CAMA 2020).
“Without these templates, the much-anticipated financial accounts filing system would not have been developed effectively. I am excited that with ACT support, we developed and adopted these templates for different entities to file their financial accounts. I am also happy that the Financial Reporting Commission was in the room and approved these templates.”
Terver Ayua, Special Adviser to the CAC Registrar-General
