NCC Reiterates Commitment To Accounting Separation Framework For Nigeria's Telecoms Industry
The Nigerian Communications Commission (NCC) has reiterated its commitment to implementing Accounting Separation Framework to outline the guidelines required for the preparation as well as submission of the Regulatory Financial Statement for Nigeria’s Communications industry.
This announcement was made in Lagos on Tuesday by Josephine Amuwa, the Director of Policy, Competition and Economic Analysis at NCC.
Amuwa explained that the Commission’s aim in implementing the Accounting Separation Framework was to create an environment that would foster open and transparent financial reporting in the industry.
Amuwa added that the framework would prevent any discrimination or practices that lessen competition such as issues of regulatory overlap emerging from the convergence of service offerings and technology.
Speaking further, Amuwa also noted that the operators should expect to reap the strategic benefits of gaining better understanding of the cost drivers and profitability of different services from the preparation of the Regulatory Financial Statements.
She noted that the AccountÄ±ng Separation Framework being issued by the NCC would provide a set of guidelines and policies for generating detailed regulatory financial statements, which would enable the Commission to analyse costs, revenues and capital employed across various businesses, services and products of the operators.
Credit: This article originated from www.nigeriacommunicationsweek.com.ng