| |
|
 |
| For business information, annual reports, laws, ordinances, regulations and articles. |
|
|
|
030319
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN, ISLAMABAD
Circular No. 9
Reference No. EMD/D-II/7/2002
March 19, 2003
PREPARATION AND TRANSMISSION OF SECOND QUARTER ACCOUNTS BY THE LISTED COMPANIES.
Consequent upon an
amendment in Section 245 of the Companies Ordinance, 1984 (the “Ordinance”)
through the Companies (Amendment) Ordinance, 2002, the listed companies are
required to prepare and transmit to the members and the Stock Exchange (s) their
first, second and third quarter accounts within one month of the close of the
respective quarter. Further, Circular No.16 of 2002 dated December 11, 2002,
issued by the Commission on the subject requires that cumulative figures for the
half year presented in the second quarter accounts shall be subject to limited
scope review by the statutory auditors.
2. The Commission is, however, receiving a large number of representations from
the listed companies, APTMA, PSMA, ICAP and certain other professional bodies
stating therein that it is impracticable to prepare and transmit second quarter
accounts with limited scope review by the statutory auditors, within a period of
one month of the close of that quarter.
3. Considering the practical difficulties expressed by the management and
auditors of listed companies, it has been decided by the Commission to grant a
general relaxation of further one month enabling the listed companies to
circulate their second quarter accounts with limited scope review by the
statutory auditors within a period of two months of the close of second quarter.
4. The Commission expects timely compliance from the management of listed
companies in respect of filing of statutory returns.
(Ashfaq Ahmed Khan)
Director (E & M)
Distribution
1. Chief Executives of all listed companies
2. Managing Directors of Stock Exchanges, Karachi/ Lahore/ Islamabad
3. The President, Institute of Chartered Accountants of Pakistan
4. The President, Institute of Cost and Management Accountants of Pakistan
5. The President, Institute of Corporate Secretaries of Pakistan
6. The President, Institute of Chartered Secretaries and Managers
7. Press Information Department, Islamabad
8. Associated Press of Pakistan
9. All officers of the Commission
10. All CROs.
11. The Media Coordinator, SEC, Islamabad
|
|
|
|
|
|
| Home | About Us | Contact | Information Resources |