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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
     
Helpless PESCO says KP govt behind grid station attack; FIR registered against PTI MPA
News Image   PESHAWAR , May 27 (INP) The Peshawar Electricity Supply Company (PESCO) Saturday expressed the helplessness of the institution, and said Khyber Pakhtunkhwa (KP) government is behind the attack that was carried on the Rehman Baba grid station by Pakistan Tehreek-e-Insaf (PTI) Member Provincial Assembly (MPA) Fazal Elahi and his followers. More
updated 12 minutes ago
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Kashmir civil society group writes to Indian President over reward to Indian Major
News Image   SRINAGAR, May 27 (INP) Kashmir Valley-based civil society group, the Group of Concerned Citizens, wrote to Indian President Pranab Mukherjee on Friday expressing its concern over the Army’s move to reward a Major who had used a civilian as a human shield. More
updated 12 minutes ago
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