CIRCULAR ISSUED TO MEMBERS
2005
Circular No.
Date of Issue
Subject
01/2005
02/2005
03/2005
04/2005
05/2005
06/2005
07/2005
08/2005
09/2005
10/2005
11/2005
12/2005
March 16, 2005
May 9, 2005
May 28, 2005
May 28, 2005
June 15, 2005
July 16, 2005
July 22, 2005
Oct. 15, 2005
Oct. 27, 2005
Nov 2, 2005
Nov 11, 2005
Dec. 20, 2005
Revised Fourth Schedule to the Companies Ordinance, 1984
Withdrawal of ATR-12 – Appointment of Auditors – II
Code of Ethics for Chartered Accountants
Styling of Firms
Management letter to Exchange Companies
Amendments in the Code of Corporate Governance relating to change
of external auditors
Applicability of Provisions Pertaining to Transfer Pricing held in
abeyance by SECP
Amendment in Council Directive 4.06 on Styling of Firms
Waivers given to companies as per SBP’s Circular Letter No. 29
1.
QUALITY CONTROL REVIEW
TR-5 - IASB STANDARDS – COUNCIL’S STATEMENT ON
APPLICABILITY (REVISED 2005)
1. Adoption of IFRS - 2. Adoption of ISA
G:\ICAP\Circular Issued in 2005.DOC
Circular No. 01/ 2005
March 16, 2005
ALL MEMBERS OF THE INSTITUTE
Dear Member
REVISED FOURTH SCHEDULE TO THE COMPANIES ORDINANCE, 1984
In view of the comprehensive presentation and disclosure requirements contained in the
International Accounting Standards, the Institute had long been convincing the Securities and
Exchange Commission of Pakistan for revision of the Fourth Schedule to the Companies
Ordinance, 1984 suggesting retention of only those requirements that were essential in addition
to the requirements of IAS.
After a lengthy process of deliberations between the Institute and the SECP, the latter has issued
revised Fourth Schedule to the Companies Ordinance, 1984 (vide its SRO 589/(I)/2004 dated
July 5, 2004) which would be applicable to all the listed Companies whose financial year