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IN THE MATTER OF: MESSRS TARIQ AYUB ANWAR & CO. versus IN THE MATTER OF: MESSRS TARIQ AYUB ANWAR & CO.

255, 260 and 476 Implementation of penalties on auditors for non-compliance with auditors' powers and duties of auditors, who audited company accounts of the accounts of these companies, books of accounts, company's balance sheet. Report made to members. Profit and Loss Account Instead of complying with the requirements of Section 255 of the Companies Ordinance, 1984, the examination of the Company's illicit accounts for the relevant years revealed that the International Accounting Standards and Companies Ordinance, 1984, were based on certain requirements. Was not implemented. And since the accounting policy for recording and disclosure of revenue was not permanently implemented, auditors had the ultimate oversight of shareholder interest, so it was imperative that they be audited in advance. Give a report of accounts and books. (Ashfaq Ahmad Kaitian, Director (Knowledge)) The Companies Ordinance, 1984 Procedures and Requirements and International Accounting Standards If auditors were found to be irregular, which was material in relation to these accounts, they would be required to issue a qualified report. Was needed. Shareholders were the final entity whose auditors were responsible and they should take this fact into account when auditing book accounts. And reporting on it should keep auditors from realizing their true gestures and prevent them from performing their duties wholeheartedly. It was important for the auditors to remain alert and to perform their duties and responsibilities with due diligence, while auditing accounts and books of accounts, the auditors in the present case paid their legal obligations by giving misleading information to the members. law firms from Khangarh lawyer