The Framework which can be found on the Commission’s website through this link, https://sec.gov.ng/guidance_on_the_implementation_of_sections_60-63_of_isa_2007/ covers the following:
Chief executive officers and the chief financial officers or officers or persons performing similar functions in public companies filing periodic or annual reports would each sign a personalized certification of their compliance with the requirements of the referenced sections of the ISA, 2007.
A public company shall establish a system of internal controls over its financial reporting and security of its assets and it shall be the responsibility of the board of directors to ensure the integrity of the company’s financial controls and reporting.
The board of directors of a public company shall report on the effectiveness of the company’s internal control system in its annual report. The annual report shall contain a statement of the management’s responsibility for establishing and maintaining adequate ICFR for the company and a statement identifying the control framework used by management to conduct the required evaluation of the effectiveness of the company’s internal control over financial reporting.
The external auditor of a public company shall issue a statement as to the existence, adequacy and effectiveness or otherwise of the internal control system of the public company and the report shall be close to the corresponding attestation report (opinion page) issued by the company’s external auditor as a result of the normal audit, or in a portion of the document immediately preceding the company’s financial statement.