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World Bank chief commends Pakistan

WASHINGTON (October 01 2002) : The World Bank President, James D. Wolfensohn, has commended Pakistan for staying the reform course while urging greater efforts to ensure that the benefits reached the country's poor people. “We have seen Pakistan make a really sustained effort and stick to the ambitious programme of restructuring that it laid out nearly three years ago,” said ...

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Rs 88.2 billion revenue collected in first quarter

ISLAMABAD (October 01 2002) : The federal tax authorities have collected Rs 88.2 billion in the first quarter (July-September) of the current fiscal year 2002-03 against the target of Rs 90 billion, showing a shortfall of Rs 1.8 billion. The collection of Rs 88.2 billion during this period is Rs 10.7 billion higher than Rs 77.5 billion collected in the ...

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Tax returns filing date not extended

ISLAMABAD (October 01 2002) : The Member of Direct Taxes, Central Board of Revenue, Vakil Ahmed Khan, has said the government has not extended the date for filing tax returns. He told Business Recorder on Monday that the last date of filing of tax returns i.e., September 30, 2002, has not been extended. He dispelled the impression that the government ...

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PricewaterhouseCoopers in Tyco Spotlight

BOSTON/NEW YORK (Reuters) – Tyco International Ltd. has become a headache for its outside auditor PricewaterhouseCoopers, whose work is under the microscope of a small army of investigators poring over several controversial deals that happened on the accounting firm's watch. PricewaterhouseCoopers (PWC) on Monday said it was cooperating as an “information provider” with the Manhattan district attorney's office on its ...

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ICMAP appoints Council Election Committee

The Institute of Cost and Management Accountants of Pakistan has issued a press release stating the appointment of the ICMAP Council Election Committee. The following is the full text of the release. “In pursuance of Clause 11(2) of the Cost and Management Accountants Regulations, 1990 (revised upto September 30, 1999), the National Council, has appointed the following fellow members of ...

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ICMAP announce Council Election Schedule

The Election Committee appointed by the National Council has finalized the following “Time Table” in pursuance of Regulation # 11(3) of Cost and Management Accountants Regulations, 1990 (revised upto September 30, 1999), for election to the 13th National Council 2003-2005 and Branch Councils for the year 2003 to be held on Sunday, December 22, 2002. Time Table for the same ...

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Returns to be filed under old ordinance

ISLAMABAD, Sept 21: The Central Board of Revenue (CBR) has clarified that the income tax returns for the period ending June 30, 2002 are to be filed under the repealed Income Tax Ordinance 1979 on the old forms. An official statement issued by CBR on Saturday said that in case of existing taxpayers, wealth statement would accompany all returns of ...

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IASB, IFAC to Translate Int'l Accounting Standards

NEW YORK, Aug. 23, 2002 The International Accounting Standards Board and the Public Sector Committee of the International Federation of Accountants announced they will work together to translate the accrual basis International Public Sector Accounting Standards (IPSASs) into languages other than English. These IPSASs are based on International Accounting Standards (IASs) to the extent that the requirements of those IASs ...

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DTT in affiliation pact with Yousuf Adil

KARACHI, July 27: Deloitte Touche Tohmatsu (DTT) – one of world's remaining 'big four' accountancy firms – has entered into an affiliation agreement with M. Yousuf Adil Saleem & Co. – Pakistan's fifth biggest firm of chartered accountants , Dawn has learnt from knowledgeable sources. The arrangement is effective from July 17 and the agreement, all prepared, sealed and signed ...

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ICMAP – Negative Marking in ICMAP Winter 2002 Exams

ICMAP have issued a press release stating that with effect from Winter 2002 examinations, there will be ‘negative marking’ in compulsory Multiple Choice Questions of all papers. Here is the full text of the press release: “Students are hereby informed that there will be a ‘negative marking’ in compulsory MCQs of all papers. A wrong choice or incorrect answer of ...

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