No Company shall have a name

Which in
opinion of SECP
I. Deceptive
II. Design to Exploit
III. Offend the religious
believes Of people.
Identical
Nearly Resemble
With existing
company
Which Shows
Patronage Connection
1.Federal Govt
2.Provincial Govt
3.Any Govt
Authority
4.Corporation
setup under any
Law
Foreign Govt or
international
Organization
Pakistan or
Foreign
Head of State
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Auditors Appointment by Directors
1
st
Auditor Casual Vacancy
Within 60 days from
C.O.I
Within 30 days
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Rights of Auditors
Ask Access Apply Test
Attend
Meetings
Receives
Meetings
Notice
Makes
Presentation
Prepare
Absent
reports
Explanation
Books of
accounts
Bills
Contracts
Budgets
Polices
Books of
a/c of
branches
Substantive
When
members
From
Board
Test of
control
Want to
remove him
What, When
Who, Why
Analytical
procedures
D.T.O.T *
Un Modified
Modified
Un Qualified
Discloser of
opinion
Adverse
opinion
*Detail test of transaction (D.T.O.T)
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Auditors Remuneration
Appointed by
Members
Appointed by
Directors
Appointed by
SECP
Decided By
Members Directors SECP
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Cost Audit
Applicable
Federal
Govt
Appointment
Time
Qualification
He Must
not be
Time to
prepare
Cost Audit
report
Production
Processing
Mining
Manufactur
ing
May Direct
to Board
To Appoint
Auditor
Boards
appoints
Auditor with
permission
from SECP
Within 60
days
After Closing
of Final
Accounts
C.A / ACMA
Statutory
Auditor
Cost Audit
report
Within 60
days
Submitted
to
SECP , ROC
Directors
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Cost Audit
Sugar Mills
Cement
Factories
Cooking Vegetable Oil
As per order by Federal Govt
Must be conducted by
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Auditors Representations
If Receive before
AGM
If Receive Late
If board takes
permission
Send it to
members
Report is not read
in AGM
Board Read in AGM From ROC
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Cost Records Maintain by Company
Plant
Capacity
Production
Capacity
Cost related
information
Labour
Wages
Factory
Overhead
Details
Raw
Material
Budgets
Reports
Variances
Direct &
Indirect
Work in
Process
Finished
Goods
Purchase
Raw
Material
Packing
Material
Direct &
Indirect
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Removal of Auditor
By members only
In EOGM by passing Special Resolution
Now SECP will appoint auditor
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Inspection of Audit Report
Read
All members
can inspect
Members can ask
In front of
On Auditors
Observation
At AGM Audit report
What, When
Who, How
Why, Whom
Members,
Director,
Company
Secretary
Auditor
Points raised by
auditors
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Auditors Name suggested by member
Any Member
Can suggest
a name
For Auditor
Before 14 days
from AGM
Directors
send suggested
name to
Members &
existing Auditor
Before 7 days
from AGM
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