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SHAIKH JALALUDDIN F.C.A. versus COMMISSIONER (ENFORCEMENT AND MONITORING) SEC

Penalty Appeal Penalty imposed on Appellant / Legal Auditors after issuing showcase notices on Sections 255, 260 and 476 Companies (General Provisions and Forms) Rules 1985, R17A Securities and Exchange Commission of Pakistan Act (XLII of 1997), Section 33 Done. It is alleged that the Appellant Company members were violated the law by not disclosing material facts, of which the Appellant was the Legal Auditor as required by Section 260 of the Companies Ordinance 1984 and has filed Section 255 of the Companies Ordinance. The audit report was not prepared according to the terms. , 1984 Appellant failed to disclose the number of employees of the relevant company in his company. Failed to disclose staff responsibilities separately. The current concern failed to express a negative opinion on the assumption as well as failed to amend the report so that any competent, disclaimer or negative opinion expressed App Appeals were also appealed to international accounting standards. was obligated to audit the account of the respective company according to. Applicants cannot argue that international standards of audit as applicable in Pakistan, such as Pakistan, have clearly laid down conditions for disclosure of employee benefits beyond the required disclosure of employee benefits. Used its discretion in not reporting the number of employees or employees. In his report the responsibilities of the appellant which were not material facts were unacceptable. In the case of the failure of the appellant to submit his report, he argued that the report should be disqualified as it was not disqualified. property advocates from Utror lawyer