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MAHBOOB SHEIKH & CO. CHARTERED ACCOUNTANTS versus

Auditors Powers and Duties of Articles 255, 260, 476 and 492 Auditors audited the Company's account ending June 30, 2006, for non-compliance with the provisions of the law by the penal auditors. That the auditor had a detailed examination of the accounts in light of Company Ordinance, 1984, International Accounting Standards (IAS) and International Standard on Audit (ISAs) revealed that the quality of audit conducted by the Enforcement Department I have been worried. The Auditor and Audit Report, made on account of section 255 of the Companies Ordinance, 1984, mandates that the Company's accounts, in addition to other things, be audited to the Company's accounts in accordance with the approved accounting standards. Must report. In the present case, applicable auditor standards were also required to be followed, however, not only with international accounting standards, but in the current case, a correct and fair view of the information required by the Company Ordinance, 1984, and the status of the company's affairs. Failed to report compliance, but also failed to produce its own report in accordance with the International Auditor's Standards. The statement that the default intention was not, cannot be accepted by the auditor who signed the audit report otherwise the Companies Ordinance complied with the requirements of section 255 of 1984 and for punishment under section 260 (1). Had blamed myself. The auditing company was imposed under section 260 (1) of the Companies Ordinance 1984, with a fine of not more than Rs 100,000 / 25,000. best law firm from Musafir Khana lawyer