Tag: financial statements
A number of JSE listed companies are delaying the publication of financial results and annual reports, saying COVID-19 lock-downs are making it hard for their auditors to conduct a proper audit process. Joining CNBC Africa for this discussion are Tara Smith, Department of Professional Practice in South Africa at KPMG, Stephen Ntsoane, EY's Assurance Leader for South Africa and Andrew Mackie, Managing Partner, Africa Audit & Assurance, Deloitte & Touche.
Cement companies in Nigeria have begun reporting their 9-month earnings. Janet Ogunkoya, Research Analyst at ARM Securities joins CNBC Africa to unpack these financial statements and discuss some stories from Nigeria’s cement industry.
Nigeria’s National Insurance Commission (NAICOM), has approved the recapitalisation work plans of 26 insurance companies attempting to raise funds to meet the mandatory June 2020 recapitalisation deadline issued by the regulator. NAICOM stated that four companies do not have the required 2018 financial statements and have been advised to review their plans of using IPO. For a focus on Nigeria’s Insurance sector, Research Analyst at Meristem, Akinyele Ahmed joins CNBC Africa for more.
Unity Bank says the delay in filing its financial statements was due to certain corporate actions including ongoing discussions with the bank's prospective investors which necessitated extensive reviews by the primary regulator. The Nigerian Stock Exchange suspended the trading of shares of Unity Bank on the floor of the exchange effective from the first of November owing to the failure of the bank to file the relevant accounts by the expiration of the stipulated period. Bismarck Rewane, Chief Executive Officer of Financial Derivatives joins CNBC Africa to discuss this development.