Fazal Mahmood & Company

IFRS 9 Financial
Instrument

Audit & Reviews

  • Statutory / External audit
  • Special purpose audit (includes Donor Requested Audits),
  • Review,
  • Due Diligence,
  • Internal control audits according to national regulations & international standards
  • Agreed-upon procedures,
  • Compilation of reports,
  • Conducted Sales Tax Audits as appointed by the C.B.R / FBR (Federal Board of Revenue)
  • Firm has also been appointed by Securities and Exchange Commission of Pakistan as inspectors to conduct specialized investigative audits about the affairs of the companies.

IFRS 9 Financial Instrument

IFRS 9, Financial Instruments
– Financial assets and financial liabilities are classified on initial recognition. This classification drives subsequent measurement of the instruments.
– Financial assets are classified as either measured at amortised cost, fair value through other comprehensive income or fair value through profit or loss.
– Reclassifications are permitted only if there is a change in the entity’s business model for holding the financial asset.
– The financial statements should reflect the general pattern of deterioration or improvement in the credit quality of financial instruments within the scope of IFRS 9.
The impairment model in IFRS 9 is based on the premise of providing for expected losses.

Audit & Reviews

  • Statutory / External audit
  • Special purpose audit (includes Donor Requested Audits),
  • Review,
  • Due Diligence,
  • Internal control audits according to national regulations & international standards
  • Agreed-upon procedures,
  • Compilation of reports,
  • Conducted Sales Tax Audits as appointed by the C.B.R / FBR (Federal Board of Revenue)
  • Firm has also been appointed by Securities and Exchange Commission of Pakistan as inspectors to conduct specialized investigative audits about the affairs of the companies.

Navigation

  • Accounting and Financial Reporting

  • External Audit

  • Internal Audit

  • Fraud Investigation & Dispute Services 

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