Insurance/reinsurance/Takaful entities: SECP issues list of 25 auditors for statutory audit

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has issued 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, here on Tuesday.

According to the SECP’s announcement, in super session 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 statutory audit, from the approved list issued by the Commission.

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

Category-A: A.F. Ferguson & 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 Raflq, Chartered Accountants; Riaz Ahmad & Co. Chartered Accountants and 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 and H. A. M. D a. Co., Chartered Accountants.

The audit firms in category-A are eligible to conduct audit of all Insurance, Reinsurance and Takaful entities.Audit firms in category-B are eligible to conduct audit of all Insurance, Reinsurance and Takaful entities having Gross Written Premium and Total Assets less than Rs1 billion, as per the Financial Statements.

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