http://www.accountancy.com.pk/newsprac_archive.asp Latest news items related to accounting, audit and tax professions including news on Big4 firms, consulting firms, standards and accounting governing bodies. http://www.accountancy.com.pk/newsprac.asp?newsid=671The Council of the Institute of Chartered Accountant of Pakistan in its meeting held on August 26th 2008 elected office bearers for the year 2008-09. http://www.accountancy.com.pk/newsprac.asp?newsid=671 http://www.accountancy.com.pk/newsprac.asp?newsid=670The ‘business as usual’ model for organisations world-wide is no longer an option in this sustainable age, says ACCA (the Association of Chartered Certified Accountants) yesterday as it published its Sustainability Agenda for Action called <em>Going Concern?</em>http://www.accountancy.com.pk/newsprac.asp?newsid=670 http://www.accountancy.com.pk/newsprac.asp?newsid=669Islamabad - ACCA (Association of Chartered Certified Accountants) Pakistan hosted a ceremony at the Serena Hotel on Wednesday to certify Pakistan Telecommunications Ltd (PTCL) as its approved employer.http://www.accountancy.com.pk/newsprac.asp?newsid=669 http://www.accountancy.com.pk/newsprac.asp?newsid=668Helen Brand, 43, has been appointed as the new chief executive of ACCA (Association of Chartered Certified Accountants). Currently the managing director of strategy and development at ACCA, she joined the global accountancy body in 1996. http://www.accountancy.com.pk/newsprac.asp?newsid=668 http://www.accountancy.com.pk/newsprac.asp?newsid=667KARACHI- The State Bank of Pakistan (SBP) on Monday organised a seminar on ‘Murabaha and Ijara Accounting Standards’ to develop an understanding of accounting treatment of such modes of Islamic transactions.http://www.accountancy.com.pk/newsprac.asp?newsid=667 http://www.accountancy.com.pk/newsprac.asp?newsid=666ISLAMABAD- The Securities and Exchange Commission of Pakistan (SECP) on Wednesday brushed aside the apprehension expressed by certain auditors regarding the SECP’s decision to create a “Panel of Auditors,” which according to them has probably been designed to favour some big audit firms.http://www.accountancy.com.pk/newsprac.asp?newsid=666 http://www.accountancy.com.pk/newsprac.asp?newsid=665KARACHI- The Institute of Chartered Accountants in England and Wales (ICAEW) and the Institute of Chartered Accountants of Pakistan (ICAP) have signed an MoU for enhanced cooperation and assistance.http://www.accountancy.com.pk/newsprac.asp?newsid=665 http://www.accountancy.com.pk/newsprac.asp?newsid=664Ikuo Nishikawa, Chairman of the Accounting Standards Board of Japan (ASBJ), and Sir David Tweedie, Chairman of the International Accounting Standards Board (IASB), jointly announced today an agreement (known as the Tokyo Agreement) to accelerate convergence between Japanese GAAP and International Financial Reporting Standards (IFRSs), a process that was started in March 2005.http://www.accountancy.com.pk/newsprac.asp?newsid=664 http://www.accountancy.com.pk/newsprac.asp?newsid=663The Council of the Institute of Chartered Accountants of India, at its 269th meeting being held these days at New Delhi, has decided to fully converge with International Financial Reporting Standards (IFRSs) issued by the International Accounting Standards Board from the accounting periods commencing on or after 1st April, 2011. http://www.accountancy.com.pk/newsprac.asp?newsid=663 http://www.accountancy.com.pk/newsprac.asp?newsid=660Aug. 15, 2007 (Associated Press) -- MIAMI - Accounting firm BDO Seidman must pay $170 million in compensation and provide punitive damages for its negligence in failing to reveal massive fraud in a financial services company backed by a Portuguese bank, a jury decided Monday.http://www.accountancy.com.pk/newsprac.asp?newsid=660