Regulatory Alerts2023-04-05
Added · Updated
Appointment of Auditors for SECP Regulated Entities
The Securities and Exchange Commission of Pakistan maintains a list of approved auditors for the appointment by SECP regulated entities, applicable for financial years starting on or after July 01, 2023. Entities are categorized by asset size or license type, requiring large securities exchanges, futures exchanges, clearing houses, depository companies, and large asset managers to appoint auditors from a specific top-tier list, while smaller entities may select from a broader list or any firm with a satisfactory Quality Control Review rating from the Institute of Chartered Accountants of Pakistan. Public Interest Companies under the Companies Act, 2017 must additionally ensure their appointed audit firm is registered with the Audit Oversight Board.