SECP rejects auditor’s findings of unlawful pay, perks
The Securities and Exchange Commission of Pakistan (SECP) on Monday challenged the Auditor General of Pakistan’s (AGP) audit report 2024-25, which alleged that pay and allowance increases for its senior management were made unlawfully and without due process. In challenging the report, the commission also claimed that the auditor general’s office lacked the authority required to conduct the financial scrutiny. The move by the SECP follows similar pushback against the auditor general from the Pakistan Telecommunication Company Ltd and the Pakistan Telecommunications Authority. The audit objections noted that the salary and perks of the SECP chairman and commissioners were raised for the two previous fiscal years. The report also mentioned that the SECP failed to deposit revenues and surplus balances into the Federal Consolidated Fund.