OBJECTIVES FOR 2011 – COMPLIANCE

1. Large Transaction Activity Report

Present Status as assessed by the Regional Measures for improvement

Head
Satisfactory • Branches are advised to check
each and every transaction
Regularly/daily reviewed by the giving remarks thereagainst
authorized officer at branches. about the nature/ genuineness
and consideration for complete
satisfaction.
2. CNIC Verification

Present Status as assessed by the Measures for improvement

Regional Head
Satisfactory
• Branches are being continuously
pursued to make all out efforts to
trace whereabouts of old account
holders for obtaining CNICs.
3. Audit Rating of Branches

Present Status as assessed by the Measures for improvement

Regional Head
Satisfactory The Managers/Operation Managers
have
Following is the position of last audit been instructed to take corrective
rating:- measures
by strengthening the Internal Control
• 19-Branches – B to
• 21-Branches – C improve the audit rating of branches.
4. Exceptions Rectification Ratio

Present Status as assessed by the Measures for improvement

Regional Head
Satisfactory At present the rectification ratio is
80% and
by strengthening the internal
controls, we
are committed to increase it upto
95%.
5. Recurrence of Exceptions

Present Status as assessed by the Measures for improvement

Regional Head
Satisfactory We endeavour to guard against
recurrence
of Exceptions by making accountable
the
responsible and award those who
follow the
procedure.
6. Audit Clearance Certificate

Present Status as assessed by the Measures for improvement

Regional Head
Very Good 1-Strict actions are being taken
against those branches who do
Position of Clearance Certificates is not submit Clearance Certificate
as under:- within prescribed time period.
2-Branches are being guided and
• Due Clearance Certificate – provided
16 every help in preparation of
• Received Clearance Certificate – Clearance
14 Certificate for submission the
• Remaining same
- 02 within prescribed time.
7. Income/Sales Tax Deduction at Branches

Present Status as assessed by the Measures for improvement

Regional Head
Satisfactory Branches are being
informed/educated & updated
regarding instructions laid down by
the FBR/Head Office Karachi.
8. Auditors’ Observations

Present Status as assessed by the Measures for improvement

Regional Head
Satisfactory Steps are being taken to improve the
overall working in the light of
auditors’ observations.