The SAPM, in a statement, said from 2012 onwards, Geo had not submitted their accounts to Pakistan Electronic Media Regulatory Authority (PEMRA), which was a requirement for all licensees as per law, nor they had they submitted
audited statement of accounts with the Security Exchange Commission of Pakistan (SECP), both were regulators.
In addition to the
audited statement of NCB / LC; BCMs shall continue to submit monthly statement of Net Capital balance (NCB) and Liquid Capital (LC) with securities exchange and clearing house as per Regulation 6.3.
The
audited statement of account relating to transfer of this amount to the equity of DMRC shall be furnished to Urban Development Ministry after the close of financial year with a certificate that the amount has been utilised for the purpose it was sanctioned, the official added.
The Task Force Committee, which is headed by Imtiaz Gillani, Vice Chancellor, University of Engineering and Technology, Peshawar, will submit
Audited Statement of Accounts of Expenditure.
CoGS, at its spring meeting March 14 to 17, did not discuss the budget, pending an
audited statement.
The meeting approved the
audited statement and recommended the distribution of $0.05 per share for the total of 1,081,637,634 group shares.
For purposes of tabling in Parliament, every year the Council submits to the Minister of Health and Social Services a report of its activities during such financial year, together with a copy of the
audited statement and the balance sheet in respect of the financial year concerned.
Certified or
audited statements reduce the perceived risk that a buyer associates with the accuracy of financial reporting since the CPA firm preparing the
audited statement is certifying as to its accuracy, that financial records have been maintained in form and substance adequate for preparing
audited statements in accordance with GAAP (Generally Accepted Accounting Principals) and it has conducted a certain level of due diligence.
Tabreed's current liabilities exceeded assets by Dh2.6 billion as of March 31 and accumulated losses of Dh972 million amounted to 400 per cent of the issued share capital, according to the company's
audited statement.
Each company submitted a letter or
audited statement from their CPA to verify their total volume of sales.