MoU signed to regulate audit profession
The Securities and Exchange Commission of Pakistan and the Audit Oversight Board signed an MoU in Islamabad on Friday to regulate the audit profession in the country.
According to MOU a new institution named Site Board has been established under SECP act 1997.
Chairman SECP Zafarul Haq Hijazi and Chairman AOB Tariq Hassan signed the MOU on behalf of their respective organizations.
The Site Board will register and monitor the existing audit firms in the country and it is also empowered to de-register them over violation of laws.