ISLAMABAD  - In order to improve efficiency and performance of power distribution companies in the country, the USAID with the assistance of DISCOs is introducing new modern mechanism of audit for DISCOs. In this regard the USAID Power Distribution Program organized a one-day workshop for the ...

KARACHI - A large number of tax payers of Karachi district have received audit notices from RTO Karachi demanding all previous and current records under section 176 and 177 of the Income Tax Ordinance 2001 that will be based on manual selection by Officers of Inland Revenue.Responding to the ...

ISLAMABAD - AHMAD AHMADANI - In order to ascertain the cost and profit of CNG stations of the country, an audit firm after conducting emergency audit has submitted its findings and recommendations to Oil and Gas Regulatory Authority (Ogra), sources said on Monday.Following the orders of apex court ...

LAHORE - The provincial audit department has detected financial irregularities to the tune of little less than one billion rupees in the rehabilitation and modernisation project of Taunsa Barrage completed at a cost of Rs 11.23 billion. This disclosure has been made in the audit report presented to ...

ISLAMABAD - In continuation of its efforts to enhance transparency and reinforce investor confidence in capital market, the Securities and Exchange Commission of Pakistan (SECP) has revamped regulations governing system audit of brokers of Karachi Stock Exchange. The revised regulations strengthen ...

The Supreme Court (SC) was presented a report by the Pakistan Steel Mills’ attorney Fakharuddin G. Ibrahim that disclosed that the Pakistan Steel Mills have borne a loss of 26.5 billion rupees so far. According to a private television channel, a three-member bench chaired by Chief Justice ...

FAISALABAD - All the textile associations have expressed grave concern over the misuse of EOBI, social security and labour funds, which are being spent on non-welfare purposes and demanded a transparent third-party audit of the funds. This demand was raised in a joint meeting of Pakistan Textile ...

ISLAMABAD - In an ostensibly deliberate move, the government is not paying much heed to appoint new chief of Public Accounts Committee (PAC) after the resignation of Ch Nisar Ali Khan, leader of the opposition in the National Assembly, even after passing a couple of months, as audit paras relating ...

ISLAMABAD - After exhaustive consultation with NBFIs and Modaraba Association of Pakistan, the Registrar, Modarabas, Securities and Exchange Commission of Pakistan, has issued Shariah compliance and Shariah audit mechanism (SCSAM) for modarabas.The Modaraba Companies and Modaraba (Floatation and ...

KARACHI (Online) - President Asif Zardari on Friday advised the Sindh government to carry out audit of the machinery and pumps belonging to different departments recently installed for de-watering and prepare a complete inventory of the equipment for the future use. It is necessary so that a ...

ISLAMABAD - A special audit report on Basic Education Community Schools (BECS) Project under the National Education Foundation that reviewed its operations and utilisiation of funds over the period 2002-03 to 2007-08 has unearthed irregularities in supervision of NGOs, financial spending and ...

LAHORE - The audit of Cooperative Housing Societies should be transparent that the actual performance of societies could be seen and the societies working against Cooperative Act and Byelaws could be brought under legal action, says a press release.

ISLAMABAD The Auditor General of Pakistan in the audit report for the year 2009-10 has pointed out that rental power contracts were awarded without competitive bidding which cost national exchequer a loss of US $63.832 million. Audit Report 2009-10 pointed out that three rental contracts were ...

ISLAMABAD Taking strict notice of financial wrongdoings of Rs 470 million in Pakistan Railways (PR), Public Accounts Committee (PAC) on Tuesday ordered to conduct special audit in this regard. The PAC met under its Vice Chairman Yasmin Rehman and reviewed the audit report of Railways for the ...

KARACHI - Former City nazim Naimatullah Khan on Tuesday demanded the government to conduct audit of the Haq Parast-led city governments funds to asses the historical corruption made over the last 4 years. He was addressing a counter press conference regarding the four years performance of MQMs city ...

LAHORE - A scam of Rs 6.4 million has surfaced in the Internal Audit Report of the Lady Willingdon Hospital for the fiscal year 2007-08, The Nation learnt on Wednesday. It was also learnt that out of the total amount, not less than Rs 3.9 million had been misappropriated by Hospitals General Store ...

KARACHI (PPI) - The Sindh Assemblys Public Accounts Committee (PAC), which met here on Thursday with its Chairman Jam Tamachi Unnar in the chair, discussed four paras of audit report 2005- 06 of provincial local government department and settled only one of them. It sought more clearances on three ...

LAHORE - The Chairman Federal Board of Revenue (FBR) Sohail Ahmed on Tuesday told the businessmen that audit would be carried out at all costs as some of the taxpayers are not paying their taxes voluntarily. He said that a computer software is being developed that would point the prospective under ...

WASHINGTON (AFP) - Sensitive military technology used in nuclear weapons and missiles can be bought easily in the US and illegally exported abroad, a government audit has found. An undercover investigation by the Government Accountability Office (GAO) revealed that parts employed in atomic bombs, ...

LAHORE - The CATDM Pakistan has demanded the third world countries including Pakistan to refuse repayment of foreign debt to all global financial institutions including WB and IMF as potential of the country to pay off the foreign liabilities is decreasing day after day due to declining foreign ...

ISLAMABAD - The government Thursday finally decided to carry out audit of big business firms, which are earning billions of rupees and contributing nothing to the national exchequer, a factor pressing the tax authorities to squeeze the poor to pay more taxes. The chief spokesman of the Federal ...

NEW YORK - A Pentagon audit of $8.2 billion spent by the US Army on contractors found that some displayed a stunning lack of accountability, according to a government audit cited by The New York Times on Friday. "The new report is especially significant because while other federal auditors have ...