Find a Lawyer

HYDER ALI BHIMJI, F.C.A. versus DIRECTOR (ENFORCEMENT-II)

Sections 255 and 260 of the Securities and Exchange Commission of Pakistan Act (XLI of 1997), Section 33 Auditing Company Auditing Company audited a limited company's account under the penalties and inspected the company's audit account through enforcement. had gone. The department had disclosed malpractices and irregularities which, after issuing a show cause notice and providing the opportunity to hear evidence on record, were imposed on all the auditing company partners, proving that the companies' ordinance The audit of the company was not reported in terms of section 255. , 1984 Due to the disclosure requirements of the International Accounting Standards, major weaknesses in the audit raised doubts about the quality of the audit, which was due to a failure to perform the legal duty of section 260 of the Companies Ordinance 1984. The facts in the circumstances which were material about T were those who audited the company whose accounts were not deliberately disclosed by the auditors, the terms of section 255 of the Orders of the Company Ordinance, 1984 No report was made, according to which the appellant auditing company was fined. Conditions top civil advocates from Dir lawyer