10-31-2002, 02:46 PM
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Dear beg,
Who dare to come forward, even you have not mentioned a single example to support your general statement
This is not a matter only for 1990s this is an ongoing corruption.
Iqbal Abid
iqbalabid
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Dear Mr Abid
The firms that had the opportunity to audit the companies reputedly involved in such corruption had the opportunity to discover the fraud. I from the outside cannot quote examples without access to the companiesâ records and market information on the then prices but if the general perception in the market is that such corruption took place (and indeed continues) it is incumbent upon the auditors to investigate into the matter before giving a clean opinion on the accounts. Auditors must make it their business to be aware of true prices of all material purchases and sales of their clients. They cannot pretend that their duty ends at inspecting the invoices produced to them by their clients. They can also look at the tax assessments of some of the multinational pharmaceutical companies - they will discover that there have been additions to the taxable income on account of transfer pricing - half their work is already done by them by the ITO.
Nasim Beg
Dear beg,
Who dare to come forward, even you have not mentioned a single example to support your general statement
This is not a matter only for 1990s this is an ongoing corruption.
Iqbal Abid
iqbalabid
<hr height=1 noshade id=quote></BLOCKQUOTE id=quote></font id=quote><font face="Verdana" size=2 id=quote>
Dear Mr Abid
The firms that had the opportunity to audit the companies reputedly involved in such corruption had the opportunity to discover the fraud. I from the outside cannot quote examples without access to the companiesâ records and market information on the then prices but if the general perception in the market is that such corruption took place (and indeed continues) it is incumbent upon the auditors to investigate into the matter before giving a clean opinion on the accounts. Auditors must make it their business to be aware of true prices of all material purchases and sales of their clients. They cannot pretend that their duty ends at inspecting the invoices produced to them by their clients. They can also look at the tax assessments of some of the multinational pharmaceutical companies - they will discover that there have been additions to the taxable income on account of transfer pricing - half their work is already done by them by the ITO.
Nasim Beg
