The Financial Reporting Council has announced the suspension of Abel Onyeke, the engagement partner at audit firm, Nexia Agbo Abel & Co.
Onyeke’s suspension was announced in a circular signed by the management of FRC on Monday.
The council, which claimed that Onyeke failed to exercise adequate professional skepticism and due diligence, suspended him for an initial period of three months starting June 1.
“The council, after the review of one of the Public Interest Entity clients of Nexia Agbo Abel & Co., hereby suspends Mr. Abel A. Onyeke, the Engagement Partner of the reporting entity for an initial period of three months effective from 1st of June 2024.
“Mr. Abel Onyeke was found, among others, not to have exercised adequate professional skepticism and due diligence during this engagement as required by auditing standards and he did not obtain sufficient appropriate audit evidence in accordance with relevant standards,” part of the notice read.
(Punch)
