Introduction ICAP issued Circular 3 of 2019 on July 2, 2019. Commentary The year 2018-19 was the first year of reporting Key Audit Matters (KAMs) under the new auditor’s report for listed companies in Pakistan. We are pleased to share our study – “First Year Experience of Revised Auditor’s Report In Pakistan”. This study [...]
LINK OF COMMENTARY Combined Commentary of SRB SROs LINK OF SROs SRB SROs 3-4-11 to 3-4-20
Introduction SECP issued SRO ref: 685(I)/2019 on July 1, 2019. Commentary SECP vide S.R.O No 685 (I)/2019.- has revised rate i.e. Annual fee at 0.02% of net assets applicable on all categories of Collective Investment Schemes. This change shall take effect from 1 st July, 2019. Link of Document `Fee [...]
Federal Board of Revenue has issued Circular No 06 of 2019 (ref: C.No.2(1)Contd/I.Tax/2018 on July 2, 2019). This Circular states that the following FBR has issued this Circular in continuation with Circular 6 issued yerterday and now extended the opporunity of filing of returns to those persons who wish to file the Revised [...]
Dear Valued Client, Federal Board of Revenue has issued Circular No 06 of 2019 (ref: C.No.2(1)Contd/I.Tax/2018 on July 1, 2019. This Circular states that the following FBR has asked persons falling in following categories to submit their Income Tax Returns under Section 114(1)(b)(iii) to (vi) of Income Tax Ordinance 2001. Owns immovable [...]
Federal Board of Revenue has issued Circular No 05 of 2019 (ref: C.No.2(1)Contd/I.Tax/2018 on July 1, 2019. This Circular states that the The date of filing of Returns of Total Income/Statement of final taxation has been extended upto August 02, 2019 only in those cases of individuals and AOPs whose previous submission date was [...]
This Blog is written by Mr. Adnan Khan, Associate Audit and Assurance Services. Please read this blog and provide your valued comments. Summary of IAS 11 IAS 11 Construction Contracts provides requirements on the allocation of contract revenue and contract costs to accounting periods in which construction work is performed. Contract revenues and expenses are recognised by [...]
This blog is written by Mr. Abdullah Saleem, Associate Audit and Assurance Services. Deadly Ethical Sins and Safeguards Ethical conflict An ethical conflict (also known as an ethical dilemma) is when two ethical principles demand opposite results in the same situation. In order to resolve the conflict a choice must be made that by definition will [...]
Detailed Commetnary for SECP S.R.O. 639 Final Notification NBFC Reg.
Khilji & Co Chartered Accountants is pleased to present this briefing, which is primarily aimed to help in understanding the impact of the Finance Bill 2019 & Budget 2019 Please click on link mentioned below to access and study the Commentary KCO TM 2019-- Finance Bill We humbly request our valued clients and readers to [...]
