Accountancy
The weekly newsletter of accountancy.com.pk
  Issue # 044 December 04, 2003

News

General
Tax officials cannot shift computers from suspected units- Tax Ombudsman
CDC further slashes security deposit
Standard & Poor's assigns 'BB-' to three PIBs
Sharp decline in SBP profitability in last four years
Time for banks and DFIs quarterly statements extended
Credit rating made mandatory for micro-finance banks
30 companies approved for badla trading
DTRE scheme made more attractive
SBP seeks views on interest rate policy
SNGPL profit crosses Rs 2 billion mark- 22 percent dividend declared
Registration under DTRE scheme- custom collectors empowered to accept and reject applications
CED jurisdiction for Karachi units changed
SBP seeks views of stakeholders on interest rate
Revenue Board pays Rs 5 billion as duty drawback to exporters
Revenue Board to encourage voluntary compliance by taxpayers
Nishat Mills profit more than doubles
Goods from Fata and Pata liable to sales tax

Practice
PWC tips tough time for Aussie banks
Revenue Rises at PricewaterhouseCoopers
Probe- KPMG's tax plans netted $180M
The Biggest Accounting Firm- Best Consult the Fine Print
Telecom tops M&A deals in first half- PwC
Big accounting firms not too big to fail- US audit regulator
Deloitte & Touche offers settlement
SEC Investigating Wachovia-KPMG Link
FASB to Require Reporting on Investments
Deloitte says couldn't detect Ahold irregularities
PricewaterhouseCoopers Quits Myanmar
XBRL Fellow Positions Established at FASB and IASCF
IFAC Invites Comments on Ethics Code Revision on Audit Partner Rotation
IFAC Council Adopts Reforms to Improve Audit Quality Worldwide
IFAC Seeking Technical Manager for Small-to-Midsized Practices
Islamabad Stock Exchange listed companies asked to rotate auditors

Student
BA, BSc BCom exams from 6th of December in Karachi
ACCA & CAT - Last date for submission of forms for June 2004 session
ICMAP - Notice issued regarding admissions

Featured Articles

Maximizing ASPs - by Maureen Mascha & David Jensen

In recent years, application service providers (ASP) have emerged as a new twist on the old theme of computer time-sharing. For either a monthly or yearly fee, ASPs allow users to share powerful software applications by remotely accessing them over the Internet. ASPs have become an appealing alternative to the rising cost and burden of purchasing hardware and software.  Read the full article
 

Reporting Capabilities of Software-audit Tools - by John Silltow

Auditors undertaking a variety of organizational missions such as optimizing IT assets, checking on file usage, or keeping an eye on software license holdings need to use dedicated software-audit tools to ensure that they are capturing the appropriate information. A variety of such tools are available, but there is a wide divergence in how they approach a problem.  Read the full article
 
Articles for Students

Five Points to Remember When Looking for an Accounting Position - by Accountemps

Within just the past 18 months the accounting profession has changed dramatically. New legislation has altered once-traditional business practices, and some specialty areas are now booming. As a result, students currently entering the profession are facing issues far different from their predecessors. These challenges have also led to new opportunities.  Read the full article
 

Detecting Accounts Payable Abuse Through Continuous Auditing - by Larry Potla

Changes in information technology and corporate governance are challenging internal audit professionals to review greater volumes of data and to confirm their organization's compliance with internal controls designed to protect assets and shareholder interests.  Read the full article

 
Check out what our audience is talking about in the Forums

MYASCO now as Deloitte (in forum "Firms")
Comments on code of corporate governance by SECP (in forum "Corporate Governance")
Islamic accounting model (in forum "Accounting and Audit")
Public Finance Accountants (in forum "Students")
N R V - which price is to be taken? (in forum "Accounting and Audit")
Is the scope of CA is falling down? (in forum "Firms")
Comparatives on Half Year Ended Accounts (in forum "Accounting and Audit")
Congrats to M.Yousuf Adil Saleem & Co. (in forum "Firms")
Procedure Of Getting Internship in A.F. Ferguson (in forum "Firms")
Work Permits (in forum "Students")
Revaluation of leased assets (in forum "Accounting and Audit")
Islamic and Non Islamic Financing, Difference? (in forum "Accounting and Audit")
Info on acturial sciences (in forum "Students")
Auditors Liability (in forum "Accounting and Audit")
Stock Valuation, Accounting Policy (in forum "Accounting and Audit")
Should marketing be allowed to CA firms? (in forum "Firms")
SECP Vs. Chartered Accountants (in forum "Accounting and Audit")
Should there be Mandatory Rotation (in forum "Accounting and Audit")
Company in the process of winding up (in forum "Accounting and Audit")
ICAP's passing criteria (in forum "Career")
IAS-36 and Country Risk (in forum "Accounting and Audit")
Losses Carried Back & Carried Forward (in forum "Tax")
Women in accountancy (in forum "Students")
Financial reporting of private companies (in forum "General Discussion")
 
Added to our Reference Library

The reference section has been totally redesigned for ease of use! Click here to check out the new Reference section.

 

We have added new audit programs in the Audit Reference section!

Account payables (61 Kb)
Bank reconciliation statements (137 Kb)
Inventories (32 Kb)
Departmental Audit (Internal Audit) (272 Kb)
 

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