Nigeria Wants a Voice in Setting Global Accounting Standards

An influential Nigerian accounting group has called for the country to have a say over international standard-setting, complaining that the rules are made now by a narrow group of countries that largely excludes Africa.

South Africa is the continent’s only nation represented on the International Accounting Standards Board, but that should change, especially since Nigeria’s economy overtook South Africa’s this year, said Innocent Okwuosa, chairman of the IFRS Experts Forum in Nigeria.

“There is a problem with a narrow range of countries dominating the IASB, and the under-representation of Africa,” Okwuosa said Tuesday ...