Page 24 - May-Newsletter-2019

Newsletter The Institute of Chartered Accountants of Pakistan An official from Securities and Exchange Commission reporting requirements under the AML/CFT of Pakistan (SECP) Waseem Ahmad Khan, additional framework. registrar of Companies made a detailed presentation on AML/CFT regulatory requirements as well as the The keynote speaker also discussed the regulatory mechanism for implementation of United Nations measures contained in the regulations for NPOs and Sanctions Regime under Resolutions 1267 and intermediaries to prevent money laundering and terror 1373 for designation of terrorist organisations and financing abuses, supplemented by the best practices individuals. and recommendations contained in the AML/CFT guidelines for NPOs issued by it. The session started with a welcome note by Ali Saif Cheema, secretary NRC ICAP. The session was focused on the relevant recommendations of FATF as well as findings of the The session was well-attended by members and non- National Terrorism Financing Risk Assessment (NTFRA), members. The participants showed great interest including directions, channels and sources of terror and asked pertinent questions from the speaker. As a finance, risk assessment of NPOs, and various policy, token of appreciation, memento was presented to the legislative and administrative measures for terror speaker. Rafqat Hussain, chairman CPD Committee financing risk mitigation. It also helped participants in Lahore, concluded the session with a vote of thanks. improving the understanding of suspicious transaction The session was followed by hi-tea. Ethics & Taxation: An Awareness Session for Students on Tax Day Celebrations From L to R: Iftikhar Taj, Rana Muhammad Usman Khan, Javed Ahmed, Khurram Shehbaz Butt, Ahmad Salhotra and Salah-ud-Din. P unjab Revenue Authority (PRA) celebrates Tax Day on and that there is a dire need to promote tax culture. According to PRA, tax payments are essentially important April 10 by creating awareness in businesses, students and masses. PRA believes that better health, security and for various development projects and for provision of education are only possible through payment of taxes basic amenities to the masses. 24 May 2019