03-04-2008, 04:09 PM
<font color="navy"></font id="navy"><font size="6"></font id="size6"><font face="Georgia">Mr. Kamran,
Off Course! I do know that the local laws and regulations override the professional pronouncements. I'm aware that the implementation of IAS 39 was deferred by SBP for banks. If you look at my previous post, I mentioned that every individual instance needs to be assessed, before deciding on consolidation.
Further,the examples I've provided in my previous post are all real life examples, based on facts.
I'm not aware of any provision in law specifically restricting the implementation of SIC 12 in Pakistan. Yes,for the asset management companies, it is concluded not to conslidate, but you'd agree that this doesnot withold the implementation of SIC 12 in other cases.</font id="Georgia">
Off Course! I do know that the local laws and regulations override the professional pronouncements. I'm aware that the implementation of IAS 39 was deferred by SBP for banks. If you look at my previous post, I mentioned that every individual instance needs to be assessed, before deciding on consolidation.
Further,the examples I've provided in my previous post are all real life examples, based on facts.
I'm not aware of any provision in law specifically restricting the implementation of SIC 12 in Pakistan. Yes,for the asset management companies, it is concluded not to conslidate, but you'd agree that this doesnot withold the implementation of SIC 12 in other cases.</font id="Georgia">