Volume 16 (XVI) 2010-11

The opinions contained in this compilation are of the competent Committees constituted by the Council of the Institute and are of operational nature and not on issues on which relevant laws and rules are not explicit. These “Selected Opinions” are not a compendium of “legal advice”.

The opinions issued by the Committees to the members’ queries are dated. Since an opinion is arrived at on the basis of the facts and circumstances of each individual query, it may change if the facts and the circumstances change. An opinion may also change due to subsequent developments in law, pronouncements made by the Institute and other relevant changes. The Institute and the Committees will have no liability in connection with such opinion.

In every case the members have to take their own decisions in the light of facts and circumstances in accordance with related laws and rules etc., applicable to the issue under decision at that point in time.


1.1    Accounting Treatment of Assets Held-for-Sale
1.2    Aggregation of Cash Generating Units
1.3    Financial Reporting Framework of NGO/NPO
1.4    Clarification on Share Deposit Money
1.5    Clarification Regarding Other General Construction Costs
1.6    Deferred Tax from profit for determination of employee’s incentive
1.7    Enquiry on Paragraph 17(e) of IAS 16
1.8    Treatment in Filing of Form – 3 (Return of Allotments U/S 73(1) of CO1984)
1.9    Deferred Tax – Revaluation surplus on building
1.10  Related Party Transactions in Code of Corporate Governance
1.11  Separate Audited Financial Statement before Court Order of Merger


2.1    Audit Fee of Fund in ATR – 14
2.2    Audit Fee of Statutory Auditors
2.3    Issuance of Auditors’ Report
2.4    Certificate of Net Capital of Members of Karachi Stock Exchange