How Many Members Are There in FRSC?

The Financial Reporting Standards Council (FRSC) is a regulatory body in the Philippines that is responsible for developing and issuing the Philippine Financial Reporting Standards (PFRS). The FRSC is composed of a chairman appointed by the Board of Accountancy and representatives from the Board of Accountancy (BOA), Securities and Exchange Commission (SEC), Bangko Sentral ng Pilipinas (BSP), Financial Executives Institute of the Philippines (FINEX), and other industry stakeholders.

While the FRSC does not disclose the exact number of members it has, it is known that the council is composed of experts in the field of accounting, finance, and auditing. These individuals are appointed based on their qualifications and experience, and are tasked with developing and issuing accounting standards that are aligned with international best practices.

The FRSC plays a crucial role in ensuring the integrity of financial reporting in the Philippines. By setting high standards for financial reporting, the council helps promote transparency and accountability in the business sector, which in turn helps attract investors and boost economic growth.

Federal Road Safety Corps Overview

Establishment and Mandate

The Federal Road Safety Corps (FRSC) is a federal government agency in Nigeria that was established in 1988. The agency is responsible for regulating, enforcing, and coordinating all road traffic and safety management activities in the country. The FRSC operates in all Nigerian states as well as the Federal Capital Territory and is the leading agency in Nigeria on road safety administration and management.

The mandate of the FRSC is to ensure the safety of road users and reduce the number of road accidents in the country. The agency achieves this by conducting regular road safety campaigns and enforcing traffic laws and regulations. The FRSC also provides emergency rescue services to accident victims and collaborates with other agencies to ensure the safety of road users.

Organizational Structure

The Federal Road Safety Corps is statutorily placed under the Presidency with the Office of the Secretary to the Government of the Federation (SGF) as the Supervising Authority. The Governing Board has the responsibility of policy making and administration of the Federal Road Safety Corps. The agency is headed by a Corps Marshal who is appointed by the President of Nigeria.

The FRSC has a workforce of over 20,000 personnel, consisting of regular and special marshals. The regular marshals are full-time employees of the agency, while the special marshals are volunteers who assist the agency in its operations. The FRSC also has zonal and sector commands in various parts of the country to ensure effective coordination and management of road safety activities.

However, the provided search results did not yield any information about the exact number of members in the FRSC.

Membership Composition

Regular Members

The Financial Reporting Standards Council (FRSC) is composed of fifteen (15) members, as per the provisions of the Accountancy Act of 2004. The Council is chaired by a senior accounting practitioner, and the remaining fourteen (14) members are representatives from various government agencies and organizations.

According to the search results, the following are the agencies or groups that are represented in the FRSC:

  • Board of Accountancy
  • Securities and Exchange Commission (SEC)
  • Bangko Sentral ng Pilipinas (BSP)
  • Bureau of Internal Revenue (BIR)
  • Commission on Audit (COA)
  • Insurance Commission (IC)
  • Financial Executives Institute of the Philippines (FINEX)
  • PICPA

Special Marshals

The FRSC may also designate special marshals who shall have the same powers and duties as regular members. These special marshals may be appointed for a specific purpose or for a limited period. However, the number of special marshals is not specified in the Accountancy Act of 2004.

In summary, the FRSC is composed of fifteen (15) members, with a chairman who is a senior accounting practitioner, and fourteen (14) representatives from various government agencies and organizations. The Council may also designate special marshals for a specific purpose or for a limited period.

Operational Presence and Deployment

The Financial Reporting Standards Council (FRSC) is a regulatory body established by the Philippine Securities and Exchange Commission (SEC) to develop and improve financial reporting standards in the Philippines.

As per the search results, the FRSC is composed of fifteen members, including a Chairman who has been or is presently a senior accounting practitioner in any of the scope of accounting practice, and fourteen representatives from the Board of Accountancy and the Securities and Exchange Commission (SEC).

The FRSC has a strong operational presence and is responsible for regulating and enforcing compliance with financial reporting standards in the Philippines. It has established the Philippine Interpretations Committee (PIC) to assist in the development and improvement of financial reporting standards. The PIC is responsible for issuing implementation guidance on Philippine Financial Reporting Standards (PFRSs).

The FRSC is committed to ensuring that financial reporting standards are adhered to by all entities operating in the Philippines. It has established a comprehensive framework for monitoring, regulating, and enforcing compliance with financial reporting standards. The FRSC also conducts regular inspections and audits to ensure that entities are complying with financial reporting standards.

In conclusion, the FRSC is an important regulatory body in the Philippines responsible for developing and improving financial reporting standards. It is composed of fifteen members, including a Chairman and fourteen representatives from the Board of Accountancy and the Securities and Exchange Commission (SEC). The FRSC has a strong operational presence and is committed to ensuring that financial reporting standards are adhered to by all entities operating in the Philippines.

Frequently Asked Questions

What is the current number of active members in the Federal Road Safety Corps?

As of December 2023, the Federal Road Safety Corps (FRSC) has a total of 22,000 active members across the country. These members are responsible for ensuring road safety, enforcing traffic rules and regulations, and providing assistance to road users in need.

How many individuals were recruited in the latest Federal Road Safety recruitment?

The latest recruitment exercise conducted by the FRSC was in 2021, where a total of 4,650 individuals were recruited into the corps. The recruitment exercise was conducted in line with the Federal Government’s commitment to improving road safety in the country.

Can you list the duties of a Road Safety Officer in the FRSC?

A Road Safety Officer in the FRSC is responsible for enforcing traffic rules and regulations, conducting road safety campaigns, providing assistance to road users in need, and ensuring the safety of road users. They also investigate road traffic accidents and provide recommendations for improving road safety.

Which government agency does FRSC represent and what are its primary responsibilities?

The FRSC is a government agency under the Federal Ministry of Transportation. Its primary responsibility is to ensure road safety in Nigeria by enforcing traffic rules and regulations, conducting road safety campaigns, and providing assistance to road users in need.

What are the qualifications required to become a member of the FRSC?

To become a member of the FRSC, an individual must possess a minimum of a Bachelor’s degree from a recognized institution, be between the ages of 18 and 30, and meet other physical and medical requirements. Additionally, candidates must pass a series of tests and interviews before being recruited into the corps.

How can one access the FRSC.gov.ng portal and what services are available there?

The FRSC.gov.ng portal can be accessed by visiting the website on any internet-enabled device. The portal provides a range of services including information on road safety, driver’s license application and renewal, vehicle registration, and road traffic accident reports. Users can also make inquiries and complaints through the portal.

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