Internal Auditors

The internal control framework has been effectively implemented through in-house services.

The Company's system of internal control is sound in design and has been continually evaluated for effectiveness and control.

External Auditors

The statutory Auditors of the Company, M/s KPMG TaseerHadi & Co., Chartered Accountants, have completed their Audit Assignment of the “Company's Financial Statements” and the "Statement of Compliance " with the Code of Corporate Governance for the financial year ended 30 June 2018 and shall retire on the conclusion of the 10th Annual General Meeting.

The Board Audit Committee has reviewed and discussed Audit observations with the External Auditors. The Audit Firm has been given a satisfactory rating under the Quality Control Review Programme of the Institute of Chartered Accountants of Pakistan (ICAP) and the firm is fully compliant with the International Federation of Accountants (IFAC) Guidelines on Code of Ethics, as adopted by the ICAP. The Auditors have indicated their willingness to continue as Auditors.

Being eligible for reappointment under the listing regulations, the Board Audit Committee recommends their reappointment for the financial year ending 30 June 2019 on remuneration as negotiated by the Chief Executive Officer.