Opinion
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Empirically Analyzing the "Five Percent Rule of Materiality" in Financial Reporting Decisions
This study analyzes a sample of financial restatements from 2011 and 2012 as a way to assess a proposed “five…
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Interpreting and Applying IAS 11 – Construction Contracts
The interpretation and application of an accounting standard could be a complex task especially in those cases where a slightly…
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Fixing the Pakistani Tax System
The existential threat to Pakistan starts with the letter ‘T’. It’s ‘Taxes’. More precisely, it’s the lack of a fair…
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Internal Audit in the New Business Environment
United States public companies are navigating new reporting and monitoring demands arising from new regulation and societal trends. The Sarbanes-Oxley Act…
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Our Stubborn Tax Culture
Even though the Federal Board of Revenue (FBR) appears determined to widen the tax net and is undertaking some unconventional…
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Making Inter-corporate Financing Transparent
The Securities and Exchange Commission of Pakistan (SECP) has decided to streamline investments made by listed companies in associated firms,…
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Are Tax Reforms Delivering?
The 1973 Constitution provides for eliminating all forms of exploitation on the basis of, ‘from each according to his ability,…
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SECP's Regulation Relaxation Spree
The Securities and Exchange Commission of Pakistan (SECP) is on a relaxation spree, amending rules and regulations governing the markets.…
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Expanding Reach of Islamic Banks
With a futuristic approach, Islamic banks are now trying to find Shariah-compliant mode for overnight borrowings from the State Bank…
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Regulators in Search of their Role
Financial regulators seem to be in search of their role far beyond the bee-line of notifications and circulars, as there…
