SECP has raised objection on CallMate’s removal of AF Ferguson & Co as its external auditors. In a letter written against CallMate’s notice of Extra-Ordinary General Meeting (EOGM) for removal of AF Ferguson as auditors and appointment of new auditors, SECP has ordered CallMate to provide explanation of their allegations against the auditors and to furnish revised statement including all deficient material.
(click on images to enlarge)
I Fully support the decision made by the Management of CTTL,as the law permit the management to remove the existing auditor in EOGM.
I think all the controversy is because the removed Firm is the well known top audit firm in Pakistan.
Such hollow allegations are raised just to defame the firm(A.F.F) Although managemnt has a clear right to remove the auditors but credibility and professional status of A.F.Ferguson (PWC) should not be underestimated.
I believe A.F.Ferguson(PWC) is a professionally organized firm and it can resolve such fake allegations amicably raised by other dis-organized companies.
Comment-3
By Ammar Murtaza Jaffery
The allegation raised by C.T.T.L’s management against A.F.Ferguson is nothing but a childish blame.
Beacause SECP has also criticised the CallMate’s removal of A.F.Ferguson & Co as its external auditors and has ordered CallMate to provide explanation of their allegations against the auditors.
C.T.T.L’s management is employing non-professional & anti-social means to defame the firm(A.F.F).
A.F.Ferguson(PWC) is one of the leading auditing firms all over the WORLD and it has better professional knowledge & strong legal authority to resolve the case.
please let me know, that when will the service of callmate co. be start?
CTTL was blind to the quality advice it was receiving and behaved arrogantly as to how dare somebody call them wrong. Removing the auditor is easy but in reality the owner managers of CTTL have not become wise to listen . Profits have clouded their judgemment.
who is the responsibl the losse of invester in callmate share
The management of the company caused all the chaos and is resposible