SECP and Audit Oversight Board sign MOU

News Image

By MG News | April 07, 2017 at 05:15 PM GMT+05:00

0:00

The Securities and Exchange Commission of Pakistan (SECP) and the Audit Oversight Board (AOB) signed an MOU on Friday at the SECP head office in Islamabad.

The statement of the SECP said that . Zafar ul Haq Hijazi, SECP Chairman, and Dr. Tariq Hassan, AOB Chairman, signed the MOU on behalf of their respective organizations. The AOB is a body formed under the 1997 SECP Act to regulate the audit profession in the country.

Its functions, among many others, include registration and de-registration of audit firms, which intend to carry out audit of public interest companies, oversight and review of the Quality Assurance Board of the Institute of Chartered Accountants of Pakistan (ICAP) etc.

Effective oversight of the auditing profession and regulation of corporate entities are related roles of the two independent regulatory bodies. Cooperation and coordination between the entities will enable effective discharge of their respective functions. The MOU establishes a framework for collaboration, coordination and sharing of information in areas of common regulatory and supervisory interests.

It also provides for administrative coordination and facilitation by the SECP for an interim period. Expressing his confidence in the AOB and its leadership, Hijazi said that the AOB should expedite the commencement of its operations and become a leading audit regulator of international standard. Dr. Hassan thanked the SECP for its role in the establishment and operationalization of the AOB.

Related News

Name Price/Vol %Chg/NChg
KSE100 131,949.07
198.95M
0.97%
1262.41
ALLSHR 82,069.26
730.83M
0.94%
764.01
KSE30 40,387.76
80.88M
1.11%
442.31
KMI30 191,376.82
77.76M
0.36%
678.77
KMIALLSHR 55,193.97
350.11M
0.22%
119.82
BKTi 35,828.25
28.42M
3.64%
1259.85
OGTi 28,446.34
6.84M
-1.02%
-293.01
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,125.00 110,525.00
107,865.00
-2290.00
-2.07%
BRENT CRUDE 68.51 68.89
67.75
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 106.00 106.00
105.85
-2.20
-2.03%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.50 67.18
66.04
-0.50
-0.75%
SUGAR #11 WORLD 16.37 16.40
15.44
0.79
5.07%

Chart of the Day


Latest News
July 05, 2025 at 11:58 PM GMT+05:00

Weekly Market Roundup


July 05, 2025 at 02:57 PM GMT+05:00

National Savings Schemes see over Rs27bn inflow in May


July 04, 2025 at 10:16 PM GMT+05:00

CAT upholds CCP’s ruling against PREMA Milk


July 04, 2025 at 10:07 PM GMT+05:00

Gold price in Pakistan falls Rs1,500 per tola


July 04, 2025 at 08:01 PM GMT+05:00

TRG in Supreme Court



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg