Good Corporate Reporting Remains Key To Investors’ Confidence, Market Stability – ICAN

The president and chairman of Council, Institute of Chartered Accountants of Nigeria (ICAN), Mallam Haruna Yahaya has said corporate reporting has evolved from mere compliance to a strategic tool for communicating purpose and resilience.

He stated this at the 2024 NGX 30 Corporate Reporting Awards ceremony. Conducted with strict objectivity across financial reporting, governance, and sustainability pillars, the assessment aims to strengthen investor confidence and market stability, with organisers set to release the methodology to listed companies ahead of the next edition.

The Institute and NGX Regulation Limited convened the third edition of the Corporate Reporting Awards, recognising listed companies on Nigerian Exchange (NGX) for excellence in financial reporting, corporate governance, and sustainability disclosures for the 2024 financial year.

Covering companies on the NGX 30 Index, the awards assess performance across three pillars, Financial Reporting, Corporate Governance, and Sustainability Reporting, underscoring the growing importance of balanced, decision-useful reporting in the Nigerian capital market.

Conducted with strict objectivity, the 2024 assessment builds on previous editions to reinforce the awards’ standing as a benchmark for corporate disclosure standards.

Speaking at the ceremony, Yahaya said corporate reporting has evolved into a strategic imperative for organisations navigating an increasingly complex environment.

“Corporate reporting has evolved beyond compliance to become a strategic tool that communicates purpose, resilience, and direction. In today’s environment, organisations are expected not only to report performance, but also to demonstrate how they are adapting to change and creating sustainable value. Transparency remains central to building trust, strengthening investor confidence, and supporting market stability,” he said.