The Financial Reporting Council of Nigeria (FRC) and Institute of Chartered Accountants of Nigeria (ICAN) have called for support for the federal government's transformation agenda.

The Executive Secretary /Chief Executive Officer, FRC, Mr. Jim Osayande Obazee, made this call when the ICAN President paid a courtesy visit to his office in Lagos.

He said that both institutions would continue to collaborate to promote the objective of federal government's agenda.

Obazee also noted that the partnership would help to improve the investment climate and increasing the development and social impact policy as well as regulation and administrative services.

"FRC has set in motion a process that will lead to issuance of a Country Code of Corporate Governance to guide both the public and private sectors of the Nigerian economy," he added.

On regulation and administration, he noted that FRC is presently reviewing the financial statements of listed and significant public interest entities.

On his part, ICAN President, Mr. Francis Ojaide has said the issue of double registration among members will soon be a thing of the past.

Ojaide also noted that the moral hazards of doing business in the country had grown tremendously, adding that government was not to blame for it but some practitioners who had been creating the problems.

On alleged fraudulent practices by ICAN members, he pointed out that after investigations was carried out, it was discovered that the allegation was actually perpetrated by non registered members and for those members who actually did faced disciplinary procedures by the Institute Tribunal and were sanctioned.