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EC - REFORMS FOR AUDIT
09-27-2011, 10:47 PM
Post: #1
EC - REFORMS FOR AUDIT
Pls see the news on link given below

http//www.straitstimes.com/BreakingNews/Money/Story/STIStory_717192.html

I believe it would be a very nice step and should be followed in Pakistan as well.

Regards,
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09-28-2011, 03:45 AM
Post: #2
 
Well thats really good if implemented in Pak bt i fear it wont be implemented in near future.
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09-28-2011, 06:19 PM
Post: #3
 
There is already a rule in Pakistan that the Government's Corporations should have two audit firms appointed for the external audit. I believe most of the corporations and Govt institutions like PIA, State Life, NBP etc are following it.

However, it does not specify that at least a non-Big 4 firm must be appointed as one of the two joint auditors. I think this should be a very good step if such a change is brought into effect.

Further, there is also a need to follow such principle in Public Interest Entities and Listed companies; at least for the bigger concerns. Let's see the future.

Regards,
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10-05-2011, 08:53 PM
Post: #4
 
all respected members please shed your knownledge on ths topic [)]
http//www.accountancy.com.pk/forum/topic.asp?TOPIC_ID=26606
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