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Top Story April 14, 2021 ISLAMABAD: The audit firm that gave Jehangir Khan Tareen’s JDW Sugar Mills Limited a clean bill of health year-on-year remains unaccounted for though a reference was filed against it but never followed through – apparently due to conflicting interests. The JDW Sugar Mills, together with 14 other mills, is currently facing a probe by the Federal Investigation Agency. The Sugar Inquiry Commission in its final report submitted to the federal cabinet on May 21, 2020, accused the auditors of neither obtaining appropriate assurance that the financial reports were free from material misstatement nor ensuring that the accounting treatment was appropriately applied. The report further noted that the auditors also didn’t address any deficiencies detected so that the investors and other users of financial reports were not misled with regard to the quality of information they contained.

Jehangir khan tareenInstitute of chartered accountants pakistanAsian development bankPakistan stock exchangeInvestigation agencySugar mills limitedSugar millsSecurities exchange commission of pakistanSugar inquiry commissionMills limitedFederal investigationExchange commissionAudit oversight bodyAudit oversight boardPakistan stockChartered accountants