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Editor n Cheif : Syed Asif Salahuddin
Editor: Tariq Sumair
 
Today's INP Latest Full Story
 
  SECP takes notice of statutory auditors of brokerage houses
   
 
ISLAMABAD, March 10 (INP): In the wake of recent broker defaults, the SECP is critically reviewing the role of statutory auditors of brokerage houses. In this regards, the SECP has sought information from six auditors to assess the audit quality. The 2015 Securities Act assigns certain specific responsibilities to statutory auditors of brokerage houses, in particular regarding client assets. It has been observed that some auditing firms are acting as statutory auditors for a large number of brokers. For example, two auditing firms are working as statutory auditors for about 100 brokers. One of these firms had audited the accounts of three brokers who recently defaulted. As part of the ongoing inquiry against recently defaulted brokers, the conduct of the said auditing firm is also under scrutiny. Additionally, the SECP has started looking at financials of brokers audited by this firm.    The SECP Chairman has emphasized on statutory auditors to perform their duties in conformity with the law. He further said that the SECP would not shy away from initiating any stern legal actions against those auditing firms that fail to perform their functions with utmost diligence and strictly in accordance with the law.
 
 
Today's INP Pakistan Stories
     
Pakistan to work closely with Trump Administration to strengthen bilateral relations; CPEC offers Pakistan an excellent opportunity to upgrade basic infrastructure and will bring prosperity and connectivity : Dar
News Image   WASHINGTON, Apr 26 (INP) Finance Minister Senator Ishaq Dar Tuesday said that Pakistan is looking ahead to work closely with the Trump Administration to further enhance and strengthen bilateral relations between the two countries. He commented that Pakistani Diaspora is playing an important role in acting as a bridge between Pakistan and the US to further bilateral relations. More
updated 12 minutes ago
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Chinese FM urges voice of peace, reason over Korean Peninsula issue
News Image   ATHENS, Apr 24 (INP): Chinese Foreign Minister Wang Yi here urged all sides to make voices of peace and reason on the Korean Peninsula issue, and reiterated China's consistent and definite stand on denuclearizing the Peninsula. More
updated 12 minutes ago
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