Background

SECP through its clarification and guidance dated September 8, 2016 has asked Securities Brokers and all Brokerage Houses to submit an audited Statement of Net Capital Balance on half yearly basis pursuant to the promulgation of the Securities Brokers (Licensing and Operations) Regulations 2016.   .

The Institute to have consistent practice across the industry, has developed a suggested format for the audit report based on International Standard on Auditing 805, ‘Special Considerations—Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement’ issued by the International Auditing and Assurance Standards Board.

Further, as the report is only for the use of SECP that has been specified at the end of the report.

Members are advised to take guidance from the enclosed format.

Circular 9 :’Format of Report on Statement of Net Capital Balance of Securities Brokers / Brokerage Houses’