Uncategorized – Page 8 – Institute of Chartered Accountants of Pakistan

Clarification on the Auditor’s Report on the Financial Statements of Mutual Funds

Posted on August 1, 2017 by Saira | Comments Off

Further to the Institute’s Circular No. 10 (dated July 20, 2017), the stakeholders related to the mutual funds industry, including...
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Revised ATR 17 Auditors’ Report to the Trustees/Board of Governors/Management Committee

Posted on July 26, 2017 by Saira | Comments Off

The Council of the Institute in its 288th meeting (held on 7th and 8th July 2017) has accepted the Auditing...
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Clarification on the auditor’s reports on the statutory financial statements under the Companies Act, 2017

Posted on July 20, 2017 by Saira | Comments Off

The Companies Act, 2017 (the Companies Act) has been promulgated on May 30, 2017. The Securities and Exchange Commission of...
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Request for comments on adoption of changes in code of ethics relating to sections 225 & 360 ‘Responding to Non Compliance with Laws and Regulations’

Posted on July 10, 2017 by Farheen | Comments Off

The Institute’s members are required to comply with ethical requirements contained in the Institute’s Code of Ethics for Chartered Accountants...
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Statement of Compliance for Financial Statements of Companies formed / licensed under Section 42 and 43 Companies under the Companies Ordinance 1984’

Posted on May 24, 2017 by Saira | Comments Off

The Securities and Exchange Commission of Pakistan (SECP) vide its S.R.O No. 413/2016 dated May 11, 2016, and further, to...
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Exposure Draft of IFAS 5 General Presentation & Disclosure in the Financial Statements of Institutions offering Islamic Financial Services

Posted on May 20, 2017 by Saira | Comments Off

The Institute’s Working Group on Accounting and Auditing Standards for Interest Free Modes of Financing and Investments (the Working Group)...
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IFRS 9 Financial Instruments and IFRS 15 Revenue from Contracts with Customers

Posted on May 15, 2017 by Saira | Comments Off

The International Accounting Standards Board (IASB) has issued IFRS 9 and IFRS 15 and the Accounting Standards Board of the...
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Exposure Draft on Guide on Auditor’s Responsibilities Relating to Going Concern Assumption in an Audit of Financial Statements

Posted on March 4, 2017 by Saira | Comments Off

The Auditing Standards Committee (the Committee) of the Institute has developed a draft “Guide on Auditor’s Responsibilities Relating to Going...
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Exposure Draft of Islamic Financial Accounting Standard (IFAS) 4 on Diminishing Musharaka

Posted on February 17, 2017 by Saira | Comments Off

The Institute’s Committee on Accounting and Auditing Standards for Interest Free Modes of Financing and Investments (the Committee) has developed...
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Guideline on the basis of Preparation of Financial Statements of Companies that are not Considered Going Concern

Posted on February 7, 2017 by Saira | Comments Off

The applicable financial reporting framework in Pakistan does not prescribe financial accounting and reporting guidelines for the company that is...
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