As regards to the scoop revealed in The Categorical Tribune on October 6, 2017 titled ‘NAB to step up probe into KASB-Financial institution Islami merger’, the Institute of Chartered Accountants of Pakistan (ICAP) has said that it initiated court cases on receipt of a criticism on the subject of the valuation project of KASB Financial institution Restricted carried out by way of A.F Ferguson & Co., Chartered Accountants.
“The mentioned criticism was once laid earlier than the investigation committee of ICAP underneath the provisions of the Chartered Accountants Ordinance, 1961. The court cases by way of ICAP’s investigation committee are underneath method based on the provisions of the Chartered Accountants Ordinance, 1961 and under no circumstances has ICAP taken a choice to forestall or drop the court cases.”
Printed in The Categorical Tribune, October 10th, 2017.
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