ICAP vide Circular No. 6/2020 (dated June 08, 2020) has requested comments on exposure draft technical release ‘Accounting for Common Control Transactions ’ by July 8, 2020. The aim of the technical release is to improve relevance, reliability and comparability of financial statements with regards common control transactions. The exposure draft technical release establishes principles…

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ICAP vide Circular No. 5/2020 (dated May 15, 2020) clarifies that auditor of a retirement benefit fund should conduct audit in accordance with the International Standards on Auditing (ISAs) as applicable in Pakistan and issue a report on financial statements in accordance with the ISA 700 (Revised), Forming an Opinion and Reporting on Financial Statements.…

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