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
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
Summit–Sindh Bank merger takes another turn, share swap ratio revised again
Ahsan Raza Durrani appointed as acting president and chief executive officer/executive director as Sindh Bank-Summit Bank merger has come under scrutiny due to alleged financial irregularities.
FBR to engage services of foreign experts for tax audit
The commissioner has also been authorized to constitute a body of auditors for carrying out a specialized audit, including a forensic audit
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
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
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
Abraaj shutting down London office, as woes mount
Earlier this week, Bloomberg reported Abraaj’s fund unit had received an offer of $1 from private equity firm Actis, sources aware of the development disclosed
Colony NorthStar ends talks with Abraaj to acquire fund management unit: Report
Reuters on Thursday reported creditors were seeking legal advice from law firm Clifford Chance on the potential action they could initiate against Abraaj in wake of worries over its ability to repay its debt, two sources close to the matter revealed
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
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,...
AGP office, federal government at loggerheads over exempting of audit to secret service fund
According to sources, AGP department which comes under the purview of the Finance Ministry is mulling to challenge the amendment in the AG’s ordinance in the apex court