The Council of the Institute in its 197th meeting held on July 25, 2008 has approved the recommendations of the Technical Advisory Committee relating to the revision of ATR-14, Minimum Hourly Charge Out Rates and Minimum Fee For Audit Engagements.

Members are advised to file the enclosed revised ATR –14 in Members’ Handbook, Volume II, Part II, Section C.

We also wish to draw the attention of the members that compliance with the directives issued or pronouncements made by the Council or any of its Standing Committees is not only the responsibility of members in practice, the members in service are also required to comply with the Council’s directives or pronouncements so as not to fall within the mischief of Part 4 of Schedule I to the Chartered Accountants Ordinance, 1961.