Africa-Press – Gambia. The Financial Reporting Oversight Board (FROB) on Thursday announced the issuance of new public interest entity and audit rules, describing the move as a “defining moment” in an effort to strengthen financial reporting, accountability, and governance in The Gambia.
The event held at Ocean Bay, brought together senior representatives from the Ministry of Finance and Economic Affairs, the Central Bank of the Gambia, and the Gambia Revenue Authority, institutions whose support FROB described as “critical” to achieving the country’s financial oversight goals.
Speaking at the event, Suleiman Fode Drame, CEO at FROB emphasised that the rules—mandated under the Financial Reporting Act of 2013—represent more than just a legal obligation.
He underscored that the framework is a shared ambition to build trust in financial reporting, safeguard market integrity, and support sustainable economic growth.
“These rules touch on the core pillars of our profession – transparency, professionalism, and independence. From the certification of financial statements by qualified professionals to the enforcement of ethical standards and quality assurance frameworks, each provision is designed to protect the public interest,” Mr Drame noted.
He added that compliance with the new rules must go hand-in-hand with collaboration, dialogue, and continued support to regulated entities.
“This is not just a regulatory milestone. It is a national responsibility,” he added, noting that credible financial reports benefit investors, businesses, regulators, and ordinary citizens.
The Board pledged to monitor and enforce the rules where necessary while also fostering partnerships to make compliance a shared standard of excellence rather than a burden.
FROB’s is mandated to foster public confidence in the accounting profession, improve governance standards, and oversee the quality of audit and assurance engagements.
For More News And Analysis About Gambia Follow Africa-Press
