Legal Privileges

Legal Privileges to Cost and Management Accountants

Sr. Description Law Section / Rule
01 To act as an Auditor in case of a private limited company having paid up capital up to Ten million Companies Act, 2017 Section 247(b)
02 Appointment as Special Auditors by FBR for Income Tax Audit Income Tax Ordinance, 2001 Section 177 (10) Income Tax Ordinance, 2001
03 Appointment as Special Auditors by FBR Sales Tax Audit Sales Act, 1990 Section 32-A of Sales Act, 1990, & SRO 539(1)/2006 dated 5th June, 2006
04 To perform Audit of Cost Accounts as an Auditor Companies Act, 2017 Section 250(1)
05 Audit & Certification of Accounts of Non Profit Organizations Income Tax Rules, 2002 Income Tax Rules, 2002 notified through SRO 774 dated 29th July, 2006
06 Audit of Financial Statements for Agricultural Borrowers Prudential Regulations for Agriculture Financing 2014 Part C, Regulations R-20
07 Audit of Financial Statements of SMEs Prudential Regulations for Small and Medium Enterprises Financing 2013 Chapter No. 3, Regulation ME R-4
08 Audit of Financial Statements of Corporate and Commercial Banks Prudential Regulations for Corporate / Commercial Banking 2011 Part B, Regulations R-3
09 To Act as Legal Representative of Taxpayer Income Tax Ordinance, 2001 Income Tax Rules, 2002 Sec 223 Income Tax Ordinance, 2001 Rules 84-90 Chp XIV if Income Tax Rules, 2002
10 Delegation of Function by Assets Management Companies SECP Circular, 2013 No.24/2013 dated December 06, 2013
11 Declaration for Registration of Memorandum Companies Rules, 1985 Rule 4 (2) (ii)
12 Appointment as Committee Member on Custom matters Customs Act, 1969 Section 195 C(2)
13 Appointment as Member of Settlement Commission on Custom matters Customs Act, 1969 Section 196 K(3)
14 Appointment as Accountant Member of the Appellate Tribunal Anti-Dumping Duties Ordinance, 2015 Rule 65(1)(a), No.2((1)/2015-Pub dated February 26, 2015
15 To Act as Legal representative in Anti-Dumping Tribunal Anti-Dumping Duties Ordinance, 2015 No.2((1)/2015-Pub dated February 26, 2015
16 To Act as Member of Small Dispute Resolution Committee Small Dispute Resolution Committees (Constitution and Procedure) Rules, 2015 Section 4(1)(b)5
17 To act as an Expert in the Companies Act, 2017 Companies Act, 2017 Section 2(30)
18 To act as Certifier in the memorandum and articles Companies Act, 2017 Section 17(3)
19 To act as Auditor for making report in case of return as to allotments Companies Act, 2017 Section 70(b)
20 To act as an Intermediary in terms of Section 455 of the Companies Act, 2017 Intermediaries (Registration) Regulations, 2017 Section 3(i)(b)
21 To act as an Internal Auditor in the listed companies Code of Corporate Governance Code of Corporate Governance
22 To carry out the Audit of Separated Accounts PTA Accounting Separation Guidelines, 2007 Sub-Clause 9(1)
23 To act as an  Expert in the Panel of Insolvency Experts Corporate Rehabilitation Regulations, 2019 Sub-Clause 4(ii)
24 To act as a Provisional Manager and Official Liquidator Panel of Provisional Managers and Official Liquidators Regulations, 2019 Sub-Clause 4(a)
25 To act as a member of ADRC Income Tax Ordinance ,2001 Section 134 A
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