Regulatory Alerts2026-04-21
Added · Updated
Circular No. 7 of 2026: List of Approved Auditors of SECP Regulated Entities
The Securities and Exchange Commission of Pakistan has revised the list of approved auditors for SECP-regulated entities by adding S. M. Suhail & Co. to Annexure I. The document establishes tiered auditor appointment requirements based on entity type and asset thresholds, restricting large entities such as securities exchanges, insurance operators with assets over Rs. 10 billion, and asset management companies with AuM of Rs. 50 billion or more to the firms listed in clause (i). Smaller entities, including securities brokers with trading-only licenses and modarabas with assets under Rs. 1 billion, are permitted to appoint auditors from clause (ii) or clause (iii) lists, or firms with a satisfactory QCR rating from ICAP. Additionally, Public Interest Companies must appoint audit firms registered with the Audit Oversight Board, and Asset Management Companies auditing Collective Investment Schemes must comply with specific directions issued in 2026.