US, Nigerian Institutes Partner To Strengthen Governance, Risk Management

The American Institute of CPAs (AICPA) has partnered with the Nigerian Capital Market Institute (NCMI), the training arm of the Securities and Exchange Commission (SEC), to enhance corporate governance and risk management among capital market operators in Nigeria.

According to the organisations, the collaboration will provide operators with access to the Internal Control and Enterprise Risk Management (ERM) Certificate programmes developed by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

COSO, a joint initiative of five leading accounting and finance bodies, focuses on advancing best practices in enterprise risk management, internal control, and fraud deterrence.

Stakeholders said the initiative is expected to help businesses strengthen governance structures, mitigate risks such as fraud and mismanagement, and improve operational resilience.

Country Director for Nigeria at the Association of International Certified Professional Accountants, Ijeoma Anadozie, said the partnership represents a significant step toward improving corporate governance and financial transparency in Nigeria.

She noted that access to COSO programmes would enable companies to enhance internal controls, improve the quality of financial reporting, and boost investor confidence.

Also speaking, Managing Director of the Nigerian Capital Market Institute, Tunde Kamali, said the collaboration aligns with efforts to equip market participants with tools to navigate an increasingly complex risk environment.

He added that strengthening knowledge in internal control and enterprise risk management would promote accountability, integrity, and strategic decision-making within Nigeria’s capital market.

Kamali further stated that the initiative supports the development of a more resilient capital market ecosystem and contributes to Nigeria’s long-term economic growth and global competitiveness.