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Form 29 - Appointment of Auditors
04-09-2010, 11:22 AM
Post: #1
Form 29 - Appointment of Auditors
i want to know that if we appoint a company (management company) or small CA firmm how we can fill form 29 for the following columns

NIC No or passport No. in case of Foreign National ?
Fathers/ Husbands Name ?
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04-09-2010, 03:38 PM
Post: #2
 
I am unable to understand in what sense you have used the term management company in your post.A company can only appoint a C.A firm ( or a firm of Cost and Management Accountant(s)in case if paid up capital of the company is less than Rs.3 million) as auditor. The particulara of auditor is obtained from the firm engaged in audit .
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04-09-2010, 07:33 PM
Post: #3
 
let me explain my scenario, we have incorporated a small company with less than 0.5 Million paid up capital

we have appoint an auditors,a small firm headed by FCA, we have to submit form 29 for the appointment of Auditors.we have the particulars of auditors.

The form 29 (given on SECP website) has following columns.

1. Present Name in Full
2. NIC No or passport No. in case of Foreign National
3. Father’s/ Husband’s Name
4. Usual residential address
5. Designation
6. Nationality**
7. Date of present appointment or change
8. Mode of appointment / change / any other Remarks

all the columns are filled but we are confused in 2 & 3, as firm has no NIC no or father name?

what we have to write in these columns?
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04-09-2010, 08:04 PM
Post: #4
 
You will write Name of audit firm in particular-1 and in bracket the name of CEO of audit firm . CNIC and Father Name of head of CA firm shall also be written accordingly.
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04-10-2010, 06:32 PM
Post: #5
 
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by majk</i>
<br />let me explain my scenario, we have incorporated a small company with less than 0.5 Million paid up capital

we have appoint an auditors,a small firm headed by FCA, we have to submit form 29 for the appointment of Auditors.we have the particulars of auditors.

The form 29 (given on SECP website) has following columns.

1. Present Name in Full
2. NIC No or passport No. in case of Foreign National
3. Father’s/ Husband’s Name
4. Usual residential address
5. Designation
6. Nationality**
7. Date of present appointment or change
8. Mode of appointment / change / any other Remarks

all the columns are filled but we are confused in 2 & 3, as firm has no NIC no or father name?

what we have to write in these columns?


<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">




Dear,

Form-29 requires the information about the audit firm, so, you need not to mention any NIC number or Father's name on it. Simply fill out remaining particulars and mention "N/A" (not applicable) in these two columns.

For all new appointments and re-appointments you have to attach auditors' Consent Letter (to act as auditors) with the Form-29 for submission to SECP. You must obtain initialled/signed list of partners of the firm along with 'Consent Letter' mentioning names of partners, father's names, NICs and other required particulars.

So, along with Form-29 (where auditors are appointed/reappointed) attach the Consent Letter from auditors plus a list of their partners describing the required particulars.

Do not fill in father's name or NIC number on Form-29 in front of firm's name, as stated earlier.

Regards,


KAMRAN.
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04-12-2010, 04:40 PM
Post: #6
 
Dear Majk


You may also keep blank the father's name and CNIC No of auditor. But if you appoint an audit firm which have only one practicing member then in my view these particulars may be filled. However its not a big issue. The organizations which appoints a firm of chartered accountants keep blank these particulars .
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04-12-2010, 05:31 PM
Post: #7
 
One thing is quite advisable and may work for readers in the times to come.

Never leave any column or space in any regulatory or tax return BLANK unless it is instructed to be left blank for say, "office use" etc.

If something is not related to you, you must put a dash (-) or write "Nil" or "Not Applicable" etc as may be suitable.

The advice for keeping any spce BLANK is inappropriate.

Regards,
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04-28-2010, 09:39 PM
Post: #8
 
Dear Sir,

Isnt it required to attach a list of partners of the firm with Form-29? If yes than CNIC of partners could be mentioned as Annex to Form-29?
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04-29-2010, 04:28 PM
Post: #9
 
I think there is not any necessary of doing so. This practice could be recommended in case of listed companies due to regulations laid down in CCG, according to which engagment partner is rotated, but ICAP has issued a directive that engagement partner will mention his name along with signature in audit report of listed companies.
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04-29-2010, 04:32 PM
Post: #10
 
I thought if a CA firm was appointed as an auditor all the partners in that audit firm would deem to be appointed. So wouldn't it be advisable to do so?
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04-29-2010, 05:24 PM
Post: #11
 
Nouman this practice may also be followed.
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