02-02-2005, 10:11 PM
AOA here is Extraction from ICAP's website
"The Institute of Chartered Accountants of Pakistan is entrusted with an important public interest statutory mandate under the Chartered Accountants Ordinance, 1961 of regulating the profession of accountants. The members of the accounting profession play a key role in corporate governance, both as part of management, and as the external auditors of the corporate entities in Pakistan. A number of ICAP members also serve as Chairmen, Chief Executives, board members and members of audit committees of corporate entities.
The efforts of ICAP resulted in the Draft Code of Corporate Governance later re-examined and enforced by the Securities & Exchange Commission of Pakistan (SECP) through the listing rules of the stock exchanges in May 2002?. Recently the SECP has announced the formation of an Institute of Corporate Governance of which ICAP is a founder member.
ICAP as a part of its pro-active role of providing guidance to its members in all areas of their professional performance is also in the public interest required to reach out to those who are actively involved in any manner with the management and ownership of corporate entities but may not be members of ICAP.
Accordingly, ICAP has set up a Group on Corporate Governance under its aegis that will not only supplement the efforts of the Institute of Corporate Governance but intends to address the issues relating to the subject of Corporate Social Responsibility, of which Corporate Governance is an important part, and prepare and provide practical guidelines and framework for the Pakistani business environment".
Regards
Mahtab
"The Institute of Chartered Accountants of Pakistan is entrusted with an important public interest statutory mandate under the Chartered Accountants Ordinance, 1961 of regulating the profession of accountants. The members of the accounting profession play a key role in corporate governance, both as part of management, and as the external auditors of the corporate entities in Pakistan. A number of ICAP members also serve as Chairmen, Chief Executives, board members and members of audit committees of corporate entities.
The efforts of ICAP resulted in the Draft Code of Corporate Governance later re-examined and enforced by the Securities & Exchange Commission of Pakistan (SECP) through the listing rules of the stock exchanges in May 2002?. Recently the SECP has announced the formation of an Institute of Corporate Governance of which ICAP is a founder member.
ICAP as a part of its pro-active role of providing guidance to its members in all areas of their professional performance is also in the public interest required to reach out to those who are actively involved in any manner with the management and ownership of corporate entities but may not be members of ICAP.
Accordingly, ICAP has set up a Group on Corporate Governance under its aegis that will not only supplement the efforts of the Institute of Corporate Governance but intends to address the issues relating to the subject of Corporate Social Responsibility, of which Corporate Governance is an important part, and prepare and provide practical guidelines and framework for the Pakistani business environment".
Regards
Mahtab