{"id":65403,"date":"2020-05-13T10:20:00","date_gmt":"2020-05-13T05:20:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=65403"},"modified":"2020-05-12T16:44:52","modified_gmt":"2020-05-12T11:44:52","slug":"ccp-asks-secp-reinstate-cost-audit-sensitive-sector","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/ccp-asks-secp-reinstate-cost-audit-sensitive-sector.html","title":{"rendered":"CCP asks SECP to reinstate cost audit of consumer-sensitive sectors"},"content":{"rendered":"\n<p>Islamabad: The Competition Commission of Pakistan (CCP) has suggested for the Securities and Exchange Commission of Pakistan (SECP) to reintroduce its mandatory annual cost audit of the five economic sectors which produce consumer-sensitive goods, a news source reported.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/rda-approves-tors-for-private-projects-3rd-party-audit.html\" target=\"_blank\" rel=\"noreferrer noopener\">RDA approves TORs for private project\u2019s third party audit<\/a><\/p>\n\n\n\n<p>These sectors include cement, sugar, cooking oil, fertiliser, and wheat flour production. The CCP has contended that the cost audit will not only ensure transparency, but provide information for the government to make decisions which will serve public interest in the best possible way.<\/p>\n\n\n\n<p>According to a note sent by CCP to SECP, the former faced difficulty in determining cost of sugar production while the price of sugar was undergoing a hike since there is no public information available for the past three years, as the last cost audit was conducted in 2017.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/pending-cases-prevented-fbr-from-collecting-pkr-87-42-billion-income-tax-audit-report.html\" target=\"_blank\" rel=\"noreferrer noopener\">Pending cases prevented FBR from collecting PKR 87.42 billion in income tax: Audit Report<\/a><\/p>\n\n\n\n<p>The former government had then amended the Companies Law to link the cost audit with recommendation by sector\u2019s regulator, whereas these sector do not have a regulator.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Competition Commission of Pakistan (CCP) has suggested for the Securities and Exchange Commission of Pakistan (SECP) to reintroduce its mandatory annual cost audit of the five economic sectors which produce consumer-sensitive goods, a news source reported. Read: RDA approves TORs for private project\u2019s third party audit These sectors include cement, sugar, cooking oil, fertiliser, and wheat flour production. The CCP has contended that the cost audit will not only ensure transparency, but provide information for the government to make decisions which will serve public interest in the best possible way. According to a note sent by CCP to SECP, the former faced difficulty in determining cost of sugar production while the price of sugar was undergoing a hike since there is no public information available for the past three years, as the last cost audit was conducted in 2017. Read: Pending cases prevented FBR from collecting PKR 87.42 billion in income tax: Audit Report The former government had then amended the Companies Law to link the cost audit with recommendation by sector\u2019s regulator, whereas these sector do not have a regulator.<\/p>\n","protected":false},"author":57,"featured_media":65404,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15012],"tags":[28960],"persona":[],"class_list":{"0":"post-65403","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-allied-industries","8":"tag-ccp-asks-secp-to-reinstate-cost-audit-of-consumer-sensitive-sectors","9":"cat-15012-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CCP asks SECP to reinstate cost audit of sensitive sectors - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Competition Commission of Pakistan (CCP) has suggested for the Securities and Exchange Commission of Pakistan (SECP) to reintroduce its mandatory annual cost audit of the five economic sectors which produce consumer-sensitive goods, a news source reported.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/ccp-asks-secp-reinstate-cost-audit-sensitive-sector.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CCP asks SECP to reinstate cost audit of sensitive sectors - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The Competition Commission of Pakistan (CCP) has suggested for the Securities and Exchange Commission of Pakistan (SECP) to reintroduce its mandatory annual cost audit of the five economic sectors which produce consumer-sensitive goods, a news source reported.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/ccp-asks-secp-reinstate-cost-audit-sensitive-sector.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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