clients of Riaz Ahmed and Co

[faran]

Will RACO lose its major clients like MCB, nishat group in near future??????

[wicky]

why r u thinking so?

[mudassar2704]

who said and why?

[faran]

I am thinking so becoz I like that firm and I want to get inducted in that firm when I will clear my ca-inter. I think you said so becoz of my query in career forum. At that time I was very disappointed but now I receive some encouragement from my friends and family to do full CA. I think I have no chance in big 4 but MFC 14 still can get into top ten.

I said so becoz listed companies have to rotate the firms after 5 years and I think 5 years are about to complete.

[faran]

mudassar
are u audit trainee?

[mudassar2704]

Yup, but not in RACO

[alihassan1414]

then where ?????????????????

[faran]

can somebody like to answer my original question?

[wicky]

well y r u so worried.

even if it loses some clients due 2 some reason , still it would be good firm.

thx

[faran]

I am not worried. RACO is all about nishat group and when it loses that group it will not be that geat firm. Nishat group is the biggest group, not one or two companies.

[VITAL]

Clause (xli) of the Code of Corporate Governance might help you

(xli) (a) All companies (whether listed or otherwise) in the financial sector shall change their external auditors every five years. Financial sector, for this purpose, means Banks, Non-Banking Finance Companies (NBFCs), Modarabas and Insurance Companies; and

(b) All listed companies other than those in the financial sector shall, at a minimum, rotate the engagement partner after every five years.

[faran]

[)]thanks[8D]