Two senior executives depart from Abraaj: Report
Previously, Bloomberg reported last week KPMG was said to be undertaking an internal review into its audits of the world’s largest emerging private equity house
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
AF Ferguson celebrates 125 years of service
KARACHI: AF Ferguson & Co. on Friday celebrated its 125 years of professional services.
The event, held at a local hotel in Karachi,...
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)...
Objections against KASB Bank-BankIslami amalgamation disposed of: SBP
Previously, shareholders of defunct KASB Bank had sought a minimum compensation of Rs14.2 billion from the State Bank of Pakistan (SBP), terming the Rs5.9 billion negative valuation of the bank, determined by AF Ferguson, mala fide and dubious
Rs128 million fraud in IESCO uncovered by auditors
IESCO is accused of having made excessive and incorrect payments to contractors and auditors have recommended them to be recovered
FIA to undertake special audit of mega transport projects: Report
During the previous government's tenure, large transport projects were undertaken including Punjab’s capital city Lahore and various other cities with financial assistance from China
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,...
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
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...
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
Tax regulator contemplating forensic audit of share transactions
The Federal Board of Revenue (FBR) officials deduced hiding of withholding taxes on share transactions since the brokerage commission on these transactions exhibited growth during FY18
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...
China approves rollover of $2b SAFE deposits
IMF puts pressure on Pakistan to bridge $6b gap, urges bilateral partners to fulfill commitments