Volume 17 (XVII) 2011-12

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  Temporary Exchange Fluctuation
1.2  Deferred Taxation
1.3  Presentation of Non Controlling Interest in Consolidated Financial Statements
1.4  Accounting Treatment of an Investment in A Group Company
1.5  Interpretation of Sec 208 of the Companies Ordinance, 1984
1.6  Tax Rate on Share of Surplus on Revaluation of PPE of Associate
1.7  Application of IRR on HFT Categorized Instrument
1.8  Recognition of Deferred Tax Assets
1.9  Obligation to Follow IAS / IFRS by Government Institution
1.10 Impairment of AFS Investment as per IAS 39


2.1 Opinion regarding Date of Signing of Audit Report by the External Auditor
2.2 External Auditor Conflict of Interest on Review Work