Audit and Assurance
Corporate & Secretarial services
- LLP (Limited Liability Partnership)
- SMC (Single Member Company)
- Pvt. Ltd (Private Limited Company)
- Ltd. (Public Limited Company)
NGOs/INGOs related services
- Section 42 Company – Non-Governmental Organization (NGO) – Not for profit company (NPO) – Punjab charity commission
- Conversion of existing:
- Trust (public or private),
- The Voluntary Social Welfare Agency,
- The Charitable Endowments Act (Vi Of 1890)
into a licenced entity section 42 of the Companies Act, 2017
Registration with The Punjab Charity Commission (PCC)
- Tax Exemption qualify through Pakistan Centre for Philanthropy – PCP
- APPROVAL U/S.2(36) (C) OF THE I.TAX ORDINANCE 2001. 2001READ WITH RULE 212 OF THE INCOME TAX RULES 2002
- Islamabad trust act 2020
- Punjab trust act 2020
- Sindh trust act 2020
- The Baluchistan Trust Act 2020
- The Khyber Pakhtunkhwa Trust Act, 2020
- Economic Affairs Division (EAD), Government of Pakistan registration for NGOs and INGOs and for local NGOs receiving foreign contributions.
Section 130 of Companies Act 2017 requires every company to file an Annual Return once in a year. This annual return contains information about its Chief Executive Officer (CEO), Directors, Chief Financial Officer (CFO), Secretary, Legal Advisor, Auditors, Registered office address, members and share capital.
- Form A: Company having share capital will file annnual return on Form A
- Form B: Company not having share capital will file annual retrun on Form B
When to File: Within 30 days of AGM (Annual General Meeting) that may be extended by registrar up to 45 days in case of listed company.
Exemptions Available If there is no change in particulars in the last annual return filed the following exemptions are available:
- No need to file Form A/B: Single Member Company (SMC) or Private Limited Company having paid up capital of not more than three million rupees.
- No need to file Form A/B But to inform registrar about no change: Companies other than those mentioned above.
Section 197 of Companies Act 2017 requires every company to file Form 29 to report:
- Subsequent appointment of officers of the company after incorporation including Director, Chief executive (CEO), Chief Financial Officer (CFO), company secretary, Legal advisor and Auditors.
- Ceasing of officers of the company (resignation, removal, death etc.).
- Any change in particulars/details of officers of company such as new residential address.
When to File: Within 15 days from the date of appointment or any change among them.
Special Resolution passed by a company is to be filed with the registrar within 15 days of passing resolution.
Change of Registered Address: If company decides to change its registered office, you have to inform Registrar by filing Form 21 within 28 days of such change.
- Partnership registration
- Chamber of commerce registration
- WEBOC registration for import / export
- Trade Mark registration
- OGRA – LPG / LNG license / Petrol pump license
- Pakistan Standard & Quality (PSQ) license
- Punjab Food Authority license
- Tour Operator license
- Hajj & Umrah company
- NTN registration
- Withholding Statement
- Income Tax Return
- STRN (Sales Tax Registration)
- Sales Tax Return
- POS Integration with FBR
- Sales Tax refund
- Representation before FBR for notices
- Tax Appeal
- Tax Planning
- Tax compliance
audit and Assurance
Being “Cost and Management Accountants” firm, Ihsan Bajwa & Co. is authorized by the Institute of Cost and Management Accountants of Pakistan through Certificate of Practice to conduct audit of all entities except (as per section 247 (b) of Companies Act 2017):
- Public Limited Companies
- Private Limited Companies having paid up capital of Rs. 3 Million or more.
We provide Statutory Audit services to:
- Private Limited companies (having paid up capital less than Rs. 3 million)
- Single Member Companies (SMC)
- Partnership firms
- Nonprofit Organizations
Statutory Audit is a financial audit at the end of the accounting period. Actually its a post mortem of what has happened. Nothing can be changed. Its past now.
While Internal Audit is conducted during the year so that any irregularities, misappropriations, frauds and compliance issues can be addressed in time. Its not mandatory but its more important than statutory audit as they say “Prevention is better than cure”
We provide Internal Audit services to the following:
- Public Limited companies
- Private Limited companies
- Single Member companies (SMC)
- Limited Liability Partnerships (LLP)
- Partnership firms
- Sole proprietor businesses
- Non Profit organizations (NPO)
- Non Government Organizations (NGO)
Under Internal Audit we will:
- Conduct Internal Audit at agreed internals
- Review Internal Controls
- Report Corporate Governance issues
- SECP Compliance
- IFRS Compliance
Cost audit is carried out to evaluate cost performance of the entity for which Cost Accounting Records have been prescribed by the Securities and Exchange Commission of Pakistan (SECP).
Section 220 of Companies Act 2017 requires companies engaged in production, processing, manufacturing or mining activities maintain cost records with such particulars relating to utilization of material or labor or the other inputs or items of cost as may be specified.