ICAP, SECP discuss corporate sector issues

KARACHI: The Institute of Chartered Accountants of Pakistan (ICAP) and Securities and Exchange Commission of Pakistan (SECP) discussed corporate sector issues.

According to a press release received here on Friday, the ICAP submitted a report of the consultants on the issue of transfer pricing related rules to the SECP for consideration, which was presented at the meeting held recently.

Chairman SECP Dr Tariq Hasan and President ICAP Zafar Iqbal Sobani represented their respective teams.

Besides transfer pricing issue, the meeting discussed several other important matters including rotation of auditors, offer of services under GATS/WTO, professional misconduct cases, CA (Amendment) Bill 2005, revision of Fifty Schedule to the Companies Ordinance 1984, Cost Audits, Islamic Financial Accounting Standards, replacement of the terminology International Accounting Standards (IAS) with International Financial Reporting Standards (IFRS) and qualification of CFO and Company Secretary for listed companies.

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