Standard Alliance Directors, Audit C’ttee train on IFRS, ERM

Determined to make its directors and those having oversight function on the company understand the current developments in financial reporting as well as enterprise risk management, Board and Audit Committee Members have undergone through training.

This is also in line with its culture of regularly updating key officers on best industry practices.

Nelson Egboboh, group corporate communications manager explained that “the training was important to make our directors, audit committee members and key management staff conversant with the International Financial Reporting Standards and risk management practices.”

The two-day training session which held at the Four Points by Sheraton Hotel, Victoria Island, Lagos, according to him, “was further very strategic, especially as the participants were the brain behind the success stories of the organisations,” “with this training, we are sure of raising and making our standard of handling financial reporting and risk management issues a template for the insurance industry in Nigeria.”

It could be recalled that the Financial Reporting Council of Nigeria and the National Insurance Commission (NAICOM) had made it mandatory for companies to train their directors and other key management staff to enhance their knowledge about international best practices.

Directors that attended to include Aliyu Yahaya Sa’ad, (chairman, Standard Alliance Insurance plc), Olorogun O’tega Emerhor, the company’s Vice Chairman and chairman, Standard Alliance Life Assurance Limited; Ayo Ajayi, Ramsey Mowoe and Bode Adediji. Other directors at the meeting are Ede Osayande; Omolola Oshiafi; Rhe Emerhor-Iwuagwu; Tom Imokhai and Austin Enajemo-Isire.