Format of Review Report on the Statement of Net Capital Balance

The Institute in consultation with the Securities and Exchange Commission of Pakistan (SECP) has developed the enclosed format of auditor’s review report on the statement of Net Capital Balance (NCB). 

The format of the review report is being issued consequent to the amendments in the Securities Brokers (Licensing and Operations) Regulations, 2016 (the Regulations). The revised Regulations now require the securities brokers to submit statement of NCB (as of the close of second quarter of securities broker’s accounting year), reviewed by their statutory auditors’. Previously, securities brokers were required to submit ‘audited’ statement of NCB on a half yearly basis.

Members are advised to use the enclosed format of review report on the statement of NCB.

Circular 12 – Format of Review Report on the Statement of Net Capital Balance