SECP Issues Approved List of Auditors for Statutory Audit of Insurance, Reinsurance, Takaful Entities - Android

The Securities and Exchange Commission of Pakistan (SECP) has issued an approved list of 25 auditors for the statutory audit… Read More

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The Securities and Exchange Commission of Pakistan (SECP) has issued an approved list of 25 auditors for the statutory audit of all Insurance/Reinsurance/ Takaful entities.

In this regard, the SECP has issued circular No. 23 of 2020 on Tuesday.

According to the SECP’s announcement, in supersession of its earlier circular number 4 of 2019 dated March 11, 2019, the SECP has reviewed the applications received from the audit firms pursuant to the provisions of section 48 of the Insurance Ordinance, 2000.

The SECP has issued a revised approved list of auditors. All Insurance/Reinsurance/Takaful entities shall appoint their auditors, to conduct the statutory audits, from the approved list issued by the Commission.

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List of approved auditors pursuant to 5.48(1) of Insurance Ordinance, 2000 to conduct an audit of insurance/re-insurance/takaful entities:

Category-A:

• A.F. Ferguson a. Co., Chartered Accountants;
• Grant Thornton Anjum Rahman, Chartered Accountants;
• RSM Avais Hyder Liaquat Nauman, Chartered Accountants;
• BDO Ebrahim a. Co. Chartered Accountants;
• EY Ford Rhodes, Chartered Accountants;
• Kreston Hyder Bhimji & Co.,
• Chartered Accountants;
• KMPG Taseer Hadi & Co Chartered Accountants;
• Deloitte Yousuf Adil, Chartered Accountants;
• Rahman Sarfaraz Rahim Iqbal Rafiq, Chartered Accountants;
• Riaz Ahmad & Co. Chartered Accountants
• Crowe Hussain Chaudhury &. Co Chartered Accountants

Category-B:

• Baker Tilly Mehmood Idrees Qamar. Chartered Accountants;
• PKF F.R.A.N.T.S. Chartered Accountants;
• ShineWing Hameed Chaudhri & Co., Chartered Accountants;
• Muniff Ziauddin &. Co., Chartered Accountants;
• Naveed Zafar Ashfaq Jaffery &. Co., Chartered Accountants;
• Parker Randall-A.J.S., Chartered Accountants;
• S.M. Suhail Co, Chartered Accountants;
• Amin Mudassar &. Co., Chartered Accountants;
• Reanda Haroon Zakaria &. Co., Chartered Accountants;
• Junaidy Shoaib Asad, Chartered Accountants;
• Sarwars, Chartered Accountants;
• IECnet S.K.S.S.S, Chartered Accountants;
• H. A. M. D a. Co. Chartered Accountants.

The audit firms in Category-A are eligible to conduct audits of all Insurance, Reinsurance, and Takaful entities.

Audit firms in Category-B are eligible to conduct audits of all Insurance, Re-insurance, and Takaful entities having Gross Written Premium and Total Assets less than Rs. 1 billion, as per the Financial Statements.

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