ABDUL MUQTADIR SIDDIQUI, PARTNER, MUQTADIR & CO., CHARTERED ACCOUNTANTS versus
During the company's inspection under section 255 and ordinance of 260 companies, section 231 of 1984, the auditors' failure to audit the company in accordance with the standards and guidelines, it has been observed that the company lacks proper books Was. Ignoring the requirement of the ordinance, it was stated that the auditors had failed to disclose material facts about the company's affairs. The auditors' reports were received by the auditors, but the matters raised in the showcase notice were appropriate and Not properly resolved. The auditors failed to audit the financial statements of the company in accordance with the standards and guidelines provided in the auditors' audit framework and did not perform their duties of making a fact report to the members of the company, The negligence was done. His professional responsibilities stated that due to the facts the audit reports of the relevant year were misleading and that they were not in accordance with the requirements of section 255 of the Companies Ordinance 1984 and he was false in bringing forward material facts about the affairs of the company. And were unsuccessful and the auditors also failed to discharge their responsibilities and were very earnest in taking advantage of /. The Company's administration states that the violations have attracted the constitutional provisions contained in Sections (1) and (2) of Section 260 of Section 260 of the Companies Ordinance, 1984, the facts of this case have been of any kind to the auditors. Sympathy was not guaranteed and strict action was required against them. One thousand one hundred one lakh rupees was imposed on the auditors
Related judgments — Securities and Exchange Commission of Pakistan, 2009
