2. Submission of LOR to AOB
Once the LOR is received from QAB, please submit the LOR along with Form-A to AOB.
3. Fee Submission
Pay fee as specified in Schedule 3 to the Regulation.
4. Certificate of Registration
Subject to regulation 4B, AOB may approve registration of an audit firm and in token of its approval, shall issue a Certificate of Registration under the signature of an Authorized Officer of AOB and enter the particulars of the applicant audit firm in the Register. A Certificate of Registration entitles the audit firm to conduct audit of public interest companies. The particulars of registered audit firm shall be entered in the Register which shall be posted on the website of AOB:
Provided that the registration of an audit firm shall be subject to continuing compliance with conditions stated below which require that firm shall be:
(i) maintaining satisfactory QCR Rating under the QCRF;
(ii) complying with all the applicable laws and regulations, QCRF, International Standards on Auditing (ISAs), relevant requirements of code of ethics as adopted by Institute, international standards related to quality and other professional pronouncements as applicable in Pakistan, by the audit firm and its Audit Partners;
(iii) submitting Form A as specified in Schedule 2 annually;
(iv) timely depositing the specified annual Fee; and
(v) submitting the revised Form A as specified in Schedule 2 to AOB within 15 days from the occurrence of changes, if any, in the particulars of registered audit firm