A new Chairman hasÂ been appointed for Governing Council of the Nigerian Accounting Standards Board.
He is Mr. Michael Adebisi Popoola, a veteran chartered accountant and former Managing Partner of KPMG Nigeria. Popoola, the seventh Chairman of the NASB, succeeded Mr. Olugbenga Olaofe.
Popoola whose immediate challenges include passages of new accounting standards that would make accounting standards of the NASB converge with those of the NASB and working for the passage of the Financial Reporting Council (FRC) Bill that would see the expansion of the NASB to an FRC is also the Managing Partner of Omogoroye, Okin Popoola and Co, Firm of Chartered Accountants.
The 63-year-old Popoola was born in January 6, 1946 in Otan-Aiyegbaju, Boluwaduro Local Government of Osun State.Â He had his elementary education at St Phillipâ€™s Central School, Otan-Aiyegbaju between 1954 and 1959) before proceeding to Anglican Grammar School, Otan-Aiyegbaju (1960-64) where he distinguished himself as he graduated with a Division 1 in the West African School Certificate Examinations.
He had his tertiary education at the Yaba College of Technology where he obtained the National Diploma in Accountancy in 1969.
He also added professional qualifications to his academic certificate as he obtained the certificate of the final examinations of the Association of Chartered Certified Accountants (ACCA) (UK) in 1971.
He obtained the Fellowship of the Association of Chartered Certified Accountants (ACCA) (UK) in June 1980 and Fellowship of the Institute of Chartered Accountants of Nigeria (ICAN) in September, 1983.Â He also became a Fellow of the Chartered Institute of Taxation of Nigeria in January 1994.
He distinguished himself as an accountant and auditor with KPMG Nigeria firm of Chartered Accountants and he was made a Partner in 1979 the same year he was made Resident Partner in charge of the Port Harcourt office of the firm. This exposed him to the administrative side of the business as he supervised the servicing of clients for audit, tax, secretarial and other services as well as general management of the Port Harcourt branch of the firm until 1982.
He was responsible for auditing of many companies.Â These include United Bank for Africa, UBA, Alraine Nigeria Limited, Bible Society of Nigeria, Berger Paints of Nigeria, Costain West Africa, , and Nigerian Agip Oil Co. Ltd among others.
An expert in all areas of taxation accounting, he was made the partner in charge of taxation affairs of most of the audit clients of KPMG from January 1985 from where he assumed the position of Managing Partner of KPMG, Tax Practice from January 1, 1990.