Introduction The Securities and Exchange Commission of Pakistan has issued Notification ref S. R. O. 1170 (I)/2018 dated October 1, 2018 Commentary The attached notification introduces amendments to the “Securities and Exchange Commission Act, 1997” so as to strengthen the controls over transactions between entities for identification and restriction of “money laundering and terrorism”. These [...]
Institute of Chartered Accountants of Pakistan has issued ‘Joint Audit Guide’ through Circular 12 of 2018. This Guide will assist joint auditors to plan, conduct and conclude joint audit in accordance with the ISAs as applicable in Pakistan. It discusses key principles of joint audit, matters related to joint auditor’s agreement, client acceptance and continuance, audit planning [...]
FBR SRO 1165(I)/2018 dated September 28, 2018 Draft Amendments in Income Tax Rules 2002. Chapter VIII, Rule 39B sub rule (1) after clause (h). Banks will be required to submit the FORM D wherein details of persons will be displayed who withdraw amount exceeding PKR 50,000 in a day. 201892816990845SRO11652018 (1) SECP Circular 17 of [...]
Federal Board of Revenue has issued Circular No 4 of 2017 (ref: C.No.2(1)Contd/I.Tax/2018 on September 30, 2018. This Circular states that the Date of Filing of Income Tax Returns / Statements for Tax Year 2018 has been extended upto November 30, 2018 The new date i.e. November 30, 2018 will be applicable for Individuals, AOPs and [...]
This blog is written by Mr. Ahmed Yar Khan, Manager Audit and Assurance Services. Please read this blog of pure technical nature and provide your valued comments. Audit Risk Model Inherent Risk, Control Risk & Detection Risk Definition Audit Risk is the risk that an auditor expresses an inappropriate opinion on the financial statements. Explanation Audit risk [...]
This blog is written by Mr. Agha Mudassar Khan, Manager Taxation, Corporate and Accounting Services. Please read this technically explained Blog and provide us your useful comments. _____________________________________________________________________________________________________ CORPORATE FAILURES AND HOW TO SEE THEM OFF Introduction Corporate failure can be defined as the incapacity of an entity to keep itself abreast with its strategic path [...]
KCO – Commentary Finance Supplementary (Amendment) Bill 2018 18092018 KCO – Commentary Finance Supplementary (Amendment) Bill 2018
This blog is written by Syed Asim Habib, Senior Manager HR And Consulting. Please read this blog and provide your comments. HUMAN RESOURCE AUDIT Human Resource Management (HRM) has experienced a strong evolution. In order to provide useful information to managers, it is necessary to evaluate the results generated by the design and implementation of [...]
Federal Board of Revenue has issued Circular 3 of 2018 ref C.No.4(69)1T-Budgetl2018-109192-R dated September 12, 2018. Through this Circular, FBR has issued Explanation of Important Amendments made in the Income Tax Ordinance 2001. These amendments have been applicable post Finance Act, 2018. Please click on the link mentioned below to view the significant amendments are explained thereof. [...]
In continuation of our regular practice, we are pleased to present and publish our Newsletter for the month of AUGUST 2018. Please click on link mentioned below to access and study the Khilji & Co, Chartered Accountants Newsletter (AUGUST 2018) KCO Newsletter August 2018 This Newsletter envisages following aspects: COMMENTARY ON ISLAMABAD HIGH COURT (IHC) [...]
