10-04-2004, 06:23 PM
Salam
Well this is a critical issue wherein the IAS states that is a non-adjusting event and the dividend disclosed after the balance sheet date needs disclosure under IAS 01, however, schedule (4th and 5th) to the Ordinance requires under current liability "the disclosure of the proposed dividend" and under expenses, its related expense for the year which means the adjustment of the amount of proposed dividend.... SECP knows better.....
Though my forthcoming words do not fullfil the requirements of this room, it is worth mentioning here that SECP should better become a professional body or it should quit. My GOD, it has not been able to resolve whether the private and public companies should follow the IAS in the preparation of its financial statements. this is one of the ages old cases to be resolved.....
Many people may be aware that recently jobs have been announced under SECP Junior executive..... ACA has been seeked limiting his/her age to 25 years.... SECP must say clearly that ACAs are ineligible to apply, how it is possible that a person completes his articles well before the age of 25 years.... SECP know better.....
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Be careful! Words speak....
Well this is a critical issue wherein the IAS states that is a non-adjusting event and the dividend disclosed after the balance sheet date needs disclosure under IAS 01, however, schedule (4th and 5th) to the Ordinance requires under current liability "the disclosure of the proposed dividend" and under expenses, its related expense for the year which means the adjustment of the amount of proposed dividend.... SECP knows better.....
Though my forthcoming words do not fullfil the requirements of this room, it is worth mentioning here that SECP should better become a professional body or it should quit. My GOD, it has not been able to resolve whether the private and public companies should follow the IAS in the preparation of its financial statements. this is one of the ages old cases to be resolved.....
Many people may be aware that recently jobs have been announced under SECP Junior executive..... ACA has been seeked limiting his/her age to 25 years.... SECP must say clearly that ACAs are ineligible to apply, how it is possible that a person completes his articles well before the age of 25 years.... SECP know better.....
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Be careful! Words speak....
