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Signature Qualification contents CA that Empowers to Lead PAKISTAN The Council 4 Editor’s Letter Muhammad Awais July - Sept 2018 President Riaz A. Rehman Chamdia, FCA 5 President’s Page FATF grey list & its Vice Presidents Farrukh Rehman, FCA Riaz A. Rehman Chamdia impact on business Jafar Husain, FCA Cover Story Members Ashfaq Yousuf Tola, FCA Muhammad Ali Latif, FCA 6 FATF grey list & its impact on Hina Usmani, FCA Muhammad Awais, FCA business and economy Dollar Vs Rupee Debate Can you feel the Iftikhar Taj, FCA Rana Muhammad Usman Khan, FCA by Hina Kazi lighter rupee in On-job Human Resource Development your hand? helps lower employee turnover Understanding Khalid Rahman, FCA Saifullah, FCA Organisational Leadership Khalilullah Shaikh, FCA Syed Najmul Hussain, FCA 10 FATF grey list & its impact M. Sharif Tabani, FCA by Muhammad Bilal 14 FATF Government Nominees Dr. Waqar Masood Khan by Samir Ahmad Mohammad Abdullah Yusuf, FCA Mohammad Jehanzeb Khan 16 Accountants Vital Role in Anti-Money Shaukat Hussain Laundering and Counter Financing of Terrorism Publication Committee by Sohail Malik Economy Chairman Muhammad Awais, FCA Members 18 Dollar Vs Rupee Aneel Peter, ACA Omair Haroon, FCA Can you feel the lighter rupee in your hand? Haris Bin Mohsin, ACA Sadia Shakoor, ACA by Samir Ahmad Hina Kazi, FCA Shahid Jamal Kazi, FCA Iftikhar Taj, FCA Syed Athar Hussain Zaidi, FCA Audit & Assurance Jafar Husain, FCA Syed Jawwad Ul Haq Haqqi, ACA Mian Bilal Zia, ACA Syed Muhammad Hassan Ali, ACA 20 Keeping the Audit Profession Nadeem Butt, FCA Tariq Feroz Khan, FCA Attractive Naseer Ahmed, ACA Usman Zafar, ACA Nouman Razaq Khan, FCA Waqas Latif, ACA Auditing 22 Enhanced Auditor’s Reporting – Chief Operating Officer Abdul Malik, FCA The New Auditor’s Report & Secretary by Hina Kazi Executive Directors Farzana Munaf, FCA IFRS Masood Akhtar, FCA 25 Financial Reporting Excellence Tariq Kaleem for Loan Losses Editorial Team by Muhammad Imran Butt Executive Editor Samina Iqbal Accounting samina.iqbal@icap.org.pk 26 The Strategic CFO Publication Asad Shahzad by Hamza Bilal Co-Ordinators asad.shahzad@icap.org.pk Companies Act Afshan Aleem afshan.aleem@icap.org.pk 28 The First Experience with Financial Statements under Editorial Office: Chartered Accountants Avenue Companies Act 2017 Clifton, Karachi-75600 (Pakistan). Ph: 99251648, 99251636-39 by Farrukh Rehman Email: publications@icap.org.pk Website: www.icap.org.pk Debate The views expressed are those of the writers and do not reflect 32 On-job Human Resource Development The Institute of Chartered Accountants of Pakistan. All submissions received will be edited for clarity and space. helps lower employee turnover 2 The Pakistan Accountant July - September 2018