Customs officers grapple with each others over fraudulent import scam worth $1.4bn

ISLAMABAD: Customs officers are reportedly grappling with each other's over fraudulent imports scam worth $1.4 billion. Sources said that Syed Shakeel Shah has...

Stakeholders point out serious flaws in OGRAs foreign exchange losses adjustments

The stakeholders of the oil sector have pointed out serious flaws in the policy of the Oil and Gas Regulatory Authority (OGRA)...

China approves rollover of $2b SAFE deposits

IMF puts pressure on Pakistan to bridge $6b gap, urges bilateral partners to fulfill commitments

AGP forms team to conduct forensic audit of loss-making SOEs

ISLAMABAD: The Auditor General of Pakistan (AGP) has constituted a four-member team to conduct forensic audit of major loss-making state-owned entities (SOEs).  According...

AOB removes Qadeer & Company from its register of auditors

ISLAMABAD: The Audit Oversight Board (AOB) has removed Qadeer & Company Chartered Accountants from its register of auditors of public interest companies. The...

President stresses need to automate audit processes

President Dr Arif Alvi has emphasised the need to introduce modern technology in the audit processes so as to ensure maximum transparency,...

Is Ernst & Young about to exit Pakistan?

Ernst & Young, the global accounting and professional services firm that goes by its brand name EY, is re-evaluating its relationship with...

Auditors decline to certify PIA’s financial statements citing ‘missing record’: Report

The sources said the reason for the records went missing were pertaining to the transfer of its previous system into Oracle Enterprise Resource Planning (ERP), which kept a day-to-day record of business transactions

SECP disposes proceedings against K-Electric, imposes fine on CEO and directors

KARACHI: Securities and Exchange Commission of Pakistan (SECP) on Friday said it had disposed of proceedings initiated against the CEO and board of...

Saudi Arabia to announce slight rise in oil, gas reserves after audit – source

For almost 30 years - despite rising production, large swings in oil prices and improved technology - Riyadh has annually reported the same number for reserves at around 261 billion barrels, according to a statistical review by BP

Fresh audit reveals PIA’s market share greatly diminished between 2008-2017

According to the audit report, the state-owned airline couldn’t continue as a going concern without the assistance of the government since it had accumulated a loss of Rs361 billion till December last year

Naqvi shouldn’t be blamed for Abraaj’s disintegration, says lawyer

Mr Naqvi’s lawyer Habib Al Mulla, executive chairman of Baker & McKenzie said the Abraaj scandal had inflicted “some damage” to Dubai’s reputation and raised fingers at the local regulators including DFSA

Abraaj fund investors hire Duff & Phelps to help recover money: sources

The advisory firm will seek to trace an estimated $33 million owed by Abraaj relating to the Infrastructure and Growth Capital Fund

Special audit of PIA-owned Roosevelt Hotel recommended

Profit of the New York hotel plunged from $21m in 2008 to $3m in 2017 ISLAMABAD: The auditor general of Pakistan has been...

NAB starts graft probe against Customs DG

-- Complainant claims DG created and operated an unlawful “incentive system” at Faisalabad Dryport ISLAMABAD: The National Accountability Bureau (NAB) has formally started its...