Accounting News
Economic and Finance News
Highlights of the Federal Budget FY 2009-10
KARACHI (June 13 2009) Following are the salient highlights of the budgetary measures taken by federal government in income tax, customs, sales and federal excise tax for 2009-10.
Auditors asked to conduct income tax audit only for a year
KARACHI (May 24 2009): Federal Board of Revenue (FBR) has directed its auditors to conduct income tax audit only for a year to facilitate the taxpayers, who are receiving audit notices for multiple years.
FBR introducing new registration form for all taxpayers
ISLAMABAD (May 24 2009): The Federal Board of Revenue is introducing a new "Taxpayer Registration Form" for registration of income tax, sales tax, federal excise through a single form, simplifying registration process for business community.
SECP Defers Raise in Minimum Capital Requirement for Leasing Companies
KARACHI (May 23 2009): The Securities and Exchange Commission of Pakistan (SECP) has deferred, for two years, the implementation of increase in minimum capital requirement for leasing companies.
SECP issues new rules for Mutual Funds to ensure best practices
ISLAMABAD, March 27 2009: The Securities and Exchange Commission of Pakistan (SECP) on Thursday issued a circular for bringing the country’s mutual fund industry into sync with international best practices.
Insurance Rules 2002 amendment proposals: only licensed surveyors allowed to conduct business
ISLAMABAD (March 19 2009): Only licensed insurance surveyors under Insurance Ordinance 2000 would be allowed to conduct insurance survey of insured loss/damage to ensure impartiality and fair handling of a claim by an insurer under the proposed insurance surveying rules.
Recent Economic & Finance News
- NBP announces 65% final cash dividend, 20% bonus shares for year ended December 31, 2008
- FBR to implement new strategy for speedy sales tax refunds
- FBR bars commercial importers goods from clearance
- Kamran Shahzad Appointed Deputy Governor of SBP
- RTO Islamabad asks banks to provide e-filed data of WHT deductions
Accounting Profession News
ACCA calls for principles-based approach to avoid future financial shocks
KARACHI (June 26, 2009) - Financial regulation across major capital markets must be overhauled only after a comprehensive review of the factors which contributed to the global financial crisis, says ACCA (the Association of Chartered Certified Accountants) in an international policy paper published today.
ACCA Pakistan Comments on Federal Budget 2009-10
Karachi (June 16 2009) - The federal budget announced in the National Assembly on 13 June 2009 aspires to facilitate economic stabilization by mitigating poverty, revitalizing the industrial sector, advancing the agricultural sector, reducing price inflation, raising tax revenue by relying on indirect taxes and further taxing the existing tax payers.
ACCA Pakistan and WWF Hold Environmental Reporting Awards
Islamabad (22 April 2009): The 7th Pakistan Environmental Reporting Awards (PERA) ceremony was held on Earth Day at the Serena Hotel Islamabad to award the winners of ACCA-WWF Pakistan Environmental Reporting Awards 2008.
ACCA awards Approved Employer status to Lahore Stock Exchange
ACCA (Association of Chartered Certified Accountants) awarded Lahore Stock Pakistan Ltd with Platinum Approved Employer Status and Continuous Professional Development (CPD) Approved Employer Status in recognition of their commitment towards training and development of ACCA trainees and members.
ACCA challenges G20 to adopt a global reporting language
The G20 members’ meeting in London on 2 April 2009 must establish a new architecture for global financial and economic relations, says ACCA (the Association of Chartered Certified Accountants) in a discussion paper about the upcoming summit.
Recent Profession News
- ACCA Hosts Conference: Accountancy Creating Resilient Enterprises
- ACCA sees global membership growth during 2008
- ACCA to Launch Initiative Aimed at Enhancing Competitiveness of SMEs
- ACCA Pakistan Awards Platinum Employer Status to Coca Cola Beverages Ltd
- ICAP Not Competent to Issue Relaxation on Application of IFRSs and IASs
Accounting Education News
Pakistani ACCA Student Wins Global Award
Karachi (June 16 2009) - Muhammad Azhar Azim, a student of ACCA from Lahore, Pakistan, is one of the three successful students who have received the ACCA's Sir David Tweedie Award for 2008.
ACCA Launches Cambridge International Certificate in Financial English (ICFE)
KARACHI (May 23, 2009) International Certificate in Financial English (ICFE), a product of ACCA and University of Cambridge - ESOL, will now be available to students and professionals of accounts, finance and business studies in Pakistan.
ACCA Pakistan organises career counselling training
(March 27 2009 - Karachi) ACCA Pakistan recently organised a career counseling and training session for school heads, counselors and faculty which was attended by many well reputed schools and colleges in Karachi.
ACCA announces Simpson Scholarship Programme
Karachi (March 16, 2009) ACCA has recently announced a scholarship programme for its students. The Simpson Scholarship exists to reward talented ACCA students who have already proven them to be sufficient merit and distinction in the ACCA exams.
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