Draft amendments to the Auditors (Reporting Obligations) Regulations, 2018

Government of Pakistan
Securities and Exchange Commission of Pakistan -.-.-.- Islamabad, the 18 th October, 2023 NOTIFICATION S.R.O. 1481 (I)/2023.- The following draft amendments to the Auditors (Reporting Obligations) Regulations, 2018, proposed to be made by the Securities and Exchange Commission of Pakistan, in exercise of the powers conferred under section 512 of the Companies Act, 2017 (XIX of 2017), are hereby published for information of all the persons likely to be effected thereby and notice is hereby given that suggestions or objections, if any, received within a period of fourteen days from the date of its publication in the official Gazette, shall be taken into consideration by the Securities and Exchange Commission of Pakistan, namely:- DRAFT AMENDMENTS In the aforesaid Regulations, - (1) in regulation 2, in sub-regulation (1), - (i) in clause (vi), the word “and” at the end shall be omitted; (ii) in clause (vii), for the full stop the expression “; and” shall be inserted and thereafter, following new clause (viii) shall be inserted, namely: - ‘’(viii) “Unique Document Identification Number” or “UDIN” means UDIN generated from the designated portal of the Institute of Chartered Accountants of Pakistan or the Institute of Cost and Management Accountants of Pakistan.”; (2) after regulation 6, following new regulation 6A shall be inserted, namely: - ‘’6A. UDIN. - It shall be mandatory for auditors to mention UDIN on all reports issued under these regulations:
Provided that this requirement shall be applicable to the practicing members of the Institute of Cost and Management Accountants of Pakistan from the date notified by the Commission.’’; and (3) in annexure I, II, III, IV, V and VI, at the bottom of the said annexures, after the word ‘’[date]’’ the word ‘’[UDIN]’’ shall be inserted. [File No. CLD/CCD/PR (12)/2017]