05-04-2007, 09:01 PM
Dears,
I just found out this post. Guys who support Deloitte at lahore should have look on these posts. I know Deloitte at Faisalabad and Lahore is doing so much wrong which is not the habit of big fours. These are most probably the insiders.
I know various firms where the industrial clients, at the year end issue cheques showing the payments against workers participation fund under 1968's Act or provident fund balance, or 10-C bonus payable to workers under labour laws and keep such entries in bank reconciliation statements of current accounts or loan accounts. In the next year these cheques are reversed in general ledger and no actual payment is ever made. I know cases where crores of rupees have not been paid by industrialists. Such firms have never qualified their opinion on such huge issues.
I know the requirements of auditors in case of legal non-compliances by the clients. But any relaxation or confidentiality stipulations does not mean closing eyes on such issues and in some cases such non-compliances are not even emphasized in the covering letters addressed to board of directors.
Just affiliations cannot make us better. Firms have to take stand on every material issue or minor issues aggregating to be material altogether. Specially in view of ISQC 1 and revised ISA 220 where all responsibilities have been explicitly clarified.
Regards,
Kamran.
I just found out this post. Guys who support Deloitte at lahore should have look on these posts. I know Deloitte at Faisalabad and Lahore is doing so much wrong which is not the habit of big fours. These are most probably the insiders.
I know various firms where the industrial clients, at the year end issue cheques showing the payments against workers participation fund under 1968's Act or provident fund balance, or 10-C bonus payable to workers under labour laws and keep such entries in bank reconciliation statements of current accounts or loan accounts. In the next year these cheques are reversed in general ledger and no actual payment is ever made. I know cases where crores of rupees have not been paid by industrialists. Such firms have never qualified their opinion on such huge issues.
I know the requirements of auditors in case of legal non-compliances by the clients. But any relaxation or confidentiality stipulations does not mean closing eyes on such issues and in some cases such non-compliances are not even emphasized in the covering letters addressed to board of directors.
Just affiliations cannot make us better. Firms have to take stand on every material issue or minor issues aggregating to be material altogether. Specially in view of ISQC 1 and revised ISA 220 where all responsibilities have been explicitly clarified.
Regards,
Kamran.
