Pakistan's Largest Accountancy News Source
News Desk Habib Bank Limited (HBL) kicked off the result season in style on Monday by posting better than expected net profit for the first nine months of 2011. Net profit of the second largest bank by assets jumped 28% to Rs14.4 billion during January to September 2011 compared with Rs11.3 billion in the same period last year, according to the bank’s unconsolidated results sent to the Karachi Stock Exchange. The bank’s net profit jumped a
Press Release [caption id="attachment_3454" align="aligncenter" width="300" caption="Left to right: At the panel discussion: Muhammad Naveed Alam Deputy General Manager Siemens Pakistan, Sarah Fazli Business Analyst United Bank Ltd, Pakistan, Akbar Afzal Jessani Senior Consultant Ernst and Young Ford Rhodes Sidat Hyder and M. Sharique Siddiqui Assistant Director (Monitoring & Inspection Wing) Security and Exchange Commission of Pakistan (SECP)"][/caption] As part of ACCA’s
By Maliha Sheikh (Lahore) As you probably heard, the PCAOB officially put out a proposal earlier this week for audit partners to be named in the annual reports of public companies. It would also require “registered firms to disclose the name of the engagement partner for each audit report already required to be reported on the form” and “disclosure in the audit report of other accounting firms and certain other participants that took part in the audit.” While m
By ProPakistani With State Bank of Pakistan demoing a constructive regulatory approach for branchless banking, a number of players are now evolving to offer branchless banking in Pakistan as a viable business model, said a report published by CGAP. CGAP says that Pakistan has become one of the fastest developing markets for branchless banking in the world. According to report, SBP has issued four branchless banking licenses and is considering several others. M
News Desk The Anti-corruption Department (ACD) on Tuesday booked a revenue officer for allegedly taking a bribe. Asif Saeed, a resident of Makhan Deobandi, lodged a complaint with the Haripur Anti-corruption Circle Office, saying that he had approached Malik Ibrar, a revenue officer, to issue his land’s ownership record, as he wanted to transfer a piece of his property to his daughter-in-law. However, Ibrar allegedly asked him to pay Rs4,000 to him, upon
By Ali Ahmad Global Reporting Standards are gaining popularity among investors and other stakeholders, a new report by ACCA finds out. Around 170 senior executives and investors were questioned. More than 40% said international financial reporting standards improve access to capital, while around 25% believe the global standards have lowered capital costs. Pakistan is one of the countries which adopted it earlier and now it's mandatory on companies
Press Release ACCA Pakistan recently organized a series of Career Counseling workshops for teachers and student advisors in Islamabad, Lahore and Karachi. ACCA recognizes the integral role career guidance plays in helping students identify their natural talents in order to pursue a career promising them professional success. The workshops were based on the concept that the best career exploration and job search strategies capitalize on the natural strengths of an individu
News Desk PwC has regained its cherished position as the world's biggest accountancy and consulting firm, as companies splashed out on the latter despite fears of glum times to come in the world's economy. The firm reported a 10 per cent rise in gross revenues to $29.2bn (£18.8bn) for its worldwide network of firms for the fiscal year ended 30 June. That saw the firm once again in front of rival Deloitte Touche Tohmatsu, by $400m. Last year the latter held t
(ExP) -- The Financial Times or FT as it is generally known, is a great newspaper. First printed way back in 1888 by James Sheridan and Horatio Bottomley, the FT specialises in business and financial news. You can find a lot of information in the FT. Information ranging from share prices to the latest business activities can all be found within the paper’s famous light salmon coloured covers. In the year to 30 June 2011 the average profit share
By Sana Zeb (Lahore) The author is an ACCA member and member of Institute of Internal Auditors. She previously worked in ACCA Head Office in Pakistan in Finance Function and currently working at Tetra Pak. Mentorship is a relationship in which a more experienced person helps a less experienced personto learn, change and succeed. The newbies are supported by mentors to change their mindset andaccomplish their task in a systematic manner. They motivate them to learn