name='verify-v1'/>"> MediaTrial: SECP tells cos not to appoint non qualified auditors

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Monday, October 28, 2013

SECP tells cos not to appoint non qualified auditors

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In Punjab language; an adij is well spoken that "Malla da Huka Sukka": means the boat driver's traditional smoking pipe remains unwatered. The SECP's officials are also not capable to read the balance sheets, profit and loss accounts together with Auditors' and Directors' report submitted by the companies (Public unlisted, Public listed and private companies registered under the Companies Ordinance, 1984)!

So how the SECP can direct the companies for due-diligence while appointing auditors. Moreover, by this stupid move, many public auditors firms who are not the member of ICP can justify. This move seems to be domination of CA firms. It also seems to be nepotism.

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