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PTCL earns record revenue of Rs 66.4 billion

KARACHI (October 01 2002) : The Pakistan Telecommunication Company Limited (PTCL) has earned highest so far revenue of Rs 66.4 billion and declared a dividend of 27.5 percent for the year ended on June 30, 2002. The audited accounts of Pakistan Telecommunication Company Limited (PTCL) for the year ended June 30, 2002, were approved by the Board of Directors of ...

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Dollar slips below Rs 59 in kerb after two years

KARACHI (October 01 2002) : After a long fight for two years the dollar slipped down into the band of Rs 58 and broke the barrier of Rs 59 in the kerb market on Monday. At the closing session, the moneychangers reported that the US currency slipped to Rs 58.98 as buying rate. However, the selling rate was Rs 59.03. ...

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Ford Rhodes and Sidat Hyder merge

Ford Rhodes Robson Morrow and Sidat Hyder Qamar & Co have merged to create one of the largest professional entities in Pakistan. The two well-known Chartered Accountant firms in the country have completed the work on their proposed merger. The new firm will come into effect from October 1, 2002. The newly created firm will work as a member firm ...

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PricewaterhouseCoopers in Tyco Spotlight

BOSTON/NEW YORK (Reuters) – Tyco International Ltd. has become a headache for its outside auditor PricewaterhouseCoopers, whose work is under the microscope of a small army of investigators poring over several controversial deals that happened on the accounting firm's watch. PricewaterhouseCoopers (PWC) on Monday said it was cooperating as an “information provider” with the Manhattan district attorney's office on its ...

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ICMAP appoints Council Election Committee

The Institute of Cost and Management Accountants of Pakistan has issued a press release stating the appointment of the ICMAP Council Election Committee. The following is the full text of the release. “In pursuance of Clause 11(2) of the Cost and Management Accountants Regulations, 1990 (revised upto September 30, 1999), the National Council, has appointed the following fellow members of ...

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ICMAP announce Council Election Schedule

The Election Committee appointed by the National Council has finalized the following “Time Table” in pursuance of Regulation # 11(3) of Cost and Management Accountants Regulations, 1990 (revised upto September 30, 1999), for election to the 13th National Council 2003-2005 and Branch Councils for the year 2003 to be held on Sunday, December 22, 2002. Time Table for the same ...

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Returns to be filed under old ordinance

ISLAMABAD, Sept 21: The Central Board of Revenue (CBR) has clarified that the income tax returns for the period ending June 30, 2002 are to be filed under the repealed Income Tax Ordinance 1979 on the old forms. An official statement issued by CBR on Saturday said that in case of existing taxpayers, wealth statement would accompany all returns of ...

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IASB, IFAC to Translate Int'l Accounting Standards

NEW YORK, Aug. 23, 2002 The International Accounting Standards Board and the Public Sector Committee of the International Federation of Accountants announced they will work together to translate the accrual basis International Public Sector Accounting Standards (IPSASs) into languages other than English. These IPSASs are based on International Accounting Standards (IASs) to the extent that the requirements of those IASs ...

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DTT in affiliation pact with Yousuf Adil

KARACHI, July 27: Deloitte Touche Tohmatsu (DTT) – one of world's remaining 'big four' accountancy firms – has entered into an affiliation agreement with M. Yousuf Adil Saleem & Co. – Pakistan's fifth biggest firm of chartered accountants , Dawn has learnt from knowledgeable sources. The arrangement is effective from July 17 and the agreement, all prepared, sealed and signed ...

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ICMAP – Negative Marking in ICMAP Winter 2002 Exams

ICMAP have issued a press release stating that with effect from Winter 2002 examinations, there will be ‘negative marking’ in compulsory Multiple Choice Questions of all papers. Here is the full text of the press release: “Students are hereby informed that there will be a ‘negative marking’ in compulsory MCQs of all papers. A wrong choice or incorrect answer of ...

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