Audit in 42 industries: FBR to hire 102 sector experts

ISLAMABAD: The Federal Board of Revenue (FBR) has decided to appoint 102 sector/audit experts in 42 sectors/industries for conducting field audits of these leading sectors.

The FBR has compiled a list of 42 sectors including automotive sector; aviation; banks; beverages; cement; ceramics; chemical; coal; departmental stores; edible oil; education; electronics; feed fertilizer; flour mills; food importer; IT; manufacturer; batteries; copper manufacturer; mobile manufacturer; paper, chip board & packages manufacturer; plastic; poultry; power; real estate; restaurants and marquee; rice mills; services; sugar; tea; telecom; textile and tobacco sector.

In the first phase, field audit of these sectors would be conducted: Automobile Sector; textile; Iron & Steel; IPP’s & DISCO’s; Pharmaceutical; Finance & Insurance; banks; sugar; chemicals & fertilizers; real estate/builders & developers; petroleum, oil & lubricants; cement; telecommunication and tobacco.

Audits on large-scale: third-party auditors being hired by FBR

While the responsibility for ensuring the quality of audit mentors and sector experts rests with the HR firms, a Selection Committee shall be constituted to assess and finalize the suitability of these experts shortlisted for deployment from the list provided by the respective HR firms as provided in FBR’s list. The selection process may be conducted either in person or virtually, depending on feasibility.

In accordance with the requirements communicated by the field formations, the sectors prioritized for the first phase are listed, FBR added.

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