RegAlertRule · SECP · 23 Jan 2024
Direction No. 2 of 2024: Requirement to Mention Unique Document Identification Number on Initial and Revised Audit Reports
Modaraba companies and their auditors must include the unique document identification number (UDIN) generated from the Institute of Chartered Accountants of Pakistan's designated portal on initial and revised audit reports issued under the Modaraba Ordinance, the Modaraba Companies and Modaraba Rules, 1981, the Modaraba Regulations, 2021, and the Auditors (Reporting Obligations) Regulations, 2018. Compliance is required with immediate effect, and any violation or circumvention will be dealt with under the relevant provisions of the Modaraba Ordinance.
SECP
SECURITIES & EXCHANGE COMMISSION OF PAKISTAN
Specialized Companies Division
Islamic Finance Department
No: SC/M-RS/Circular/14/2024 January 17, 2024
DIRECTION NO. 2 OF 2024
SUBJECT: REQUIREMENT TO MENTION UNIQUE DOCUMENT IDENTIFICATION NUMBER ON THE INITIAL AND REVISED AUDIT REPORTS
In exercise of powers conferred under Section 41B of the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980 (the “Modaraba Ordinance”), the Securities and Exchange Commission of Pakistan hereby directs all Modaraba companies and Modarabas that it shall be mandatory for their auditors to mention the unique document identification number (UDIN) generated from the designated portal of the Institute of Chartered Accountants of Pakistan on the initial and revised audit reports issued under the Modaraba Ordinance, the Modaraba Companies and Modaraba Rules, 1981, the Modaraba Regulations, 2021, and the Auditors (Reporting Obligations) Regulations, 2018.
2. The Modaraba companies and the auditors of the Modarabas companies and Modarabas shall ensure compliance with these requirements with immediate effect. Any violation/circumvention of this direction shall be dealt with in accordance with the relevant provisions of the Modaraba Ordinance.
Tariq Naseem
Registrar Modaraba
Distribution:
1. The Chief Executive of all Modaraba Companies
2. The Chairman, NBFI & Modaraba Association of Pakistan, Karachi
3. The President, Institute of Chartered Accountant of Pakistan, Karachi
4. The CEO, Pakistan Stock Exchange, Karachi
5. The Chairman, Audit Oversight Board, Islamabad
6. The Director, Offsite-I-Supervision Division, SECP, Islamabad
7. Office copy
NIC Building, Jinnah Avenue, Blue Area, Islamabad Telephone (051) 9195188, e-mail tariq.naseem@secp.gov.pk
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- Obligation 2
- Definition / condition 9
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Lineage: No known changes
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The links and the sentences they come from (2)
- Issued under
- Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980Not in RegAlert
“In exercise of powers conferred under Section 41B of the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980”
- Modaraba Companies and Modaraba Rules, 1981Not in RegAlert
“issued under the Modaraba Ordinance, the Modaraba Companies and Modaraba Rules, 1981”
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