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Karachi: The Board of Directors of Sazgar Engineering Works Limited has appointed M/S Crowe Hussain Chaudhury and Co., Chartered Accountants, as the company’s new external auditors, effective June 29, 2024. This decision comes after the previous auditors, M/S Saeed Kamran and Co., Chartered Accountants, were removed by the company’s members during an Extraordinary General Meeting on the same day.
The appointment, which is subject to the approval of the Commission, is slated to last until the next Annual General Meeting. This change follows the procedures outlined in Section 96 of the Securities Act, 2015 and Clause 5.6.1 (a) of the PSX Regulations.
According to information available from the Pakistan Stock Exchange (PSX), the transition of auditors is expected to fill the casual vacancy created by the removal of the previous firm. The shareholders and TRE Certificate Holders of the Exchange have been duly informed about these developments as mandated by regulatory requirements.