ASRAL-UL-MAJEED KHAN versus HEAD OF DEPARTMENT (ENFORCEMENT)
Sections 255 and 260 of the Securities and Exchange Commission of Pakistan Act (XLI of 1997), Section 33 Company audits of non-compliance with relevant statutory powers by auditors and duties auditors auditing company accounts for the relevant year. And issued an ineligible report by the Enforcement Department, checking to determine the company's accounts, whether the auditors' report for the relevant year was prepared in accordance with the terms of section 255 of the Company Ordinance, 1984, a detailed examination of the accounts. The investigation revealed some of the irregularities associated with the company's information, grounds and sanctions Acknowledging failure to comply with the disclosure of asset accounting policies. And after presenting the matter and after carefully considering all the facts and circumstances, requested a soft-look commission, it was found that the provisions of section 255 of the Companies Ordinance, 1984, were violated, and In exercise of the powers under section 260 (1). The Companies Ordinance, 1984, imposed a fine of Rs 10,000 on the appellant, who had filed the present appeal, the auditors acknowledged the failure to enter the cash flow statement. And statement of equality charges with the accounts, and urged that the role of the auditors in this process was important in ensuring that the financial accounts presented were genuine and fair auditors acted in a professional manner. And they had to do their duty. Shareholders and stakeholders should have a skilled professional whose failure to submit a revised report to the Commission reveals that the company was dedicated, the Commission
Related judgments — Securities and Exchange Commission of Pakistan, 2014
