The opinions contained in this compilation are of the competent Committees constituted by the Council of the Institute and are of operational nature and not on issues on which relevant laws and rules are not explicit. These “Selected Opinions” are not a compendium of “legal advice”.

The opinions issued by the Committees to the members’ queries are dated. Since an opinion is arrived at on the basis of the facts and circumstances of each individual query, it may change if the facts and the circumstances change. An opinion may also change due to subsequent developments in law, pronouncements made by the Institute and other relevant changes. The Institute and the Committees will have no liability in connection with such opinion.

In every case the members have to take their own decisions in the light of facts and circumstances in accordance with related laws and rules etc., applicable to the issue under decision at that point in time.

Accounting

1.1    Income Earned on Equity Raised Specifically for Qualifying Asset
1.2    Accounting Treatment of Post Dated Cheques
1.3    Capitalization of Borrowing Cost
1.4    Consolidation as per Section 237 of the Companies Ordinance, 1984
1.5    Deferred Taxation on Investment Property
1.6    Disclosure & Reporting Requirements for Delisted Companies
1.7    Accounting and Financial Reporting Standards for Medium Sized Entities (MSEs)
1.8    Opinion on Valuation of Biological Assets applying IAS 41
1.9    Particular Method for Providing Depreciation in the Accounts
1.10  Treatment of Start-up Costs in the case of Medium-sized Entities
1.11  Treatment of Incremental Depreciation arising out of Revaluation of Fixed Assets
1.12  Annuity Method of Depreciation

Auditing

2.1   Appointment of One Auditor In Place of Two Retiring Auditors
2.2   Register of Mortgages & Maintenance of Fixed Assets Register