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    Audit Fee by Icap

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    waqaswa
    This document provides a recommended schedule of audit fees for different types and sizes of entities in Pakistan. It breaks down fees for listed companies, large sized companies and public interest companies based on their turnover. Medium sized companies are recommended a fee of Rs. 300,000 while small sized companies are recommended Rs. 175,000, excluding some medium and small companies. The terms used like public interest company, large sized company etc. are also defined based on the Companies Act of 2017.

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    Audit Fee by Icap

    Uploaded by

    waqaswa
    191 views2 pages
    This document provides a recommended schedule of audit fees for different types and sizes of entities in Pakistan. It breaks down fees for listed companies, large sized companies and public interest companies based on their turnover. Medium sized companies are recommended a fee of Rs. 300,000 while small sized companies are recommended Rs. 175,000, excluding some medium and small companies. The terms used like public interest company, large sized company etc. are also defined based on the Companies Act of 2017.

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    AUDIT FEE OF ICAP

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    AUDIT FEE BY ICAP

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    This document provides a recommended schedule of audit fees for different types and sizes of entities in Pakistan. It breaks down fees for listed companies, large sized companies and public interest companies based on their turnover. Medium sized companies are recommended a fee of Rs. 300,000 while small sized companies are recommended Rs. 175,000, excluding some medium and small companies. The terms used like public interest company, large sized company etc. are also defined based on the Companies Act of 2017.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    191 views2 pages

    Audit Fee by Icap

    Uploaded by

    waqaswa
    This document provides a recommended schedule of audit fees for different types and sizes of entities in Pakistan. It breaks down fees for listed companies, large sized companies and public interest companies based on their turnover. Medium sized companies are recommended a fee of Rs. 300,000 while small sized companies are recommended Rs. 175,000, excluding some medium and small companies. The terms used like public interest company, large sized company etc. are also defined based on the Companies Act of 2017.

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    © All Rights Reserved
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    Download as pdf or txt
    of 2

    MEMBERS' HANDBOOK

    PART IV

    DIRECTIVES AND IMPORTANT DECISIONS OF


    THE COUNCIL AND ITS COMMITTEES

    THE INSTITUTE OF
    CHARTERED ACCOUNTANTS OF PAKISTAN
    RECOMMENDED
    SCHEDULE OF AUDIT FEE

    Type of entity Fee

    Listed companies
    Turnover up to Rs.500 million Rs. 600,000

    Turnover over Rs.500 million up to Rs.1 billion Rs. 700,000

    Turnover over Rs.1 billion up to Rs.50 billion Rs.700,000 plus Rs.100,000 for
    every 1 billion increase in turnover

    Turnover over Rs.50 billion Rs. 6,400,000 or fee based on


    engagement hours computed based
    on hourly charge out rate/fee
    amount agreed with client
    whichever is higher

    Large Sized Companies / Public Interest other than listed


    Turnover up to Rs.500 million Rs.400,000

    Turnover over Rs.500 million up to Rs.1 billion Rs.600,000

    Turnover over Rs. 1 billion up to Rs.20 billion Rs.600,000 plus Rs.75,000 for every
    1 billion increase in turnover

    Turnover above Rs.20 billion Rs.2,250,000 or fee based on


    engagement hours computed based
    on hourly charge out rate/fee
    amount agreed with client
    whichever is higher
    Medium Sized Companies* Rs.300,000

    Small Sized Companies* Rs.175,000

    *Excluding Medium Sized and Small Sized Companies having paid up capital less than three million.

    Note: The terms Public Interest Company (PIC)”, “Large Sized Company (LSC)”, “Medium Sized
    Company” (MSC) and “Small Sized Company” (SSC) shall have the same meaning as defined in
    the Third Schedule of the Companies Act, 2017.

     
     

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