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Railways to adopt IFRS for financial audit
LAHORE: The Pakistan Railways has decided to get its financial statements audited under the International Financial Reporting Standards (IFRS) for the first time in its history to strengthen financial transparency, accountability and good governance. Federal Minister for Railways Hanif Abbasi announced that the services of an internationally reputed chartered accountancy firm would be hired to audit the organisation’s financial statements for the fiscal year 2025-26. He said the selection of the audit firm would be made strictly on merit and in accordance with the Public Procurement Regulatory...
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