Property, Plant and Equipment Yes Assets subject to finance lease No Intangible assets No Capital work in progress Yes Investments Yes Loans and advances Yes Long term security deposits No Deferred tax assets No Drawing and Stationery stores Yes Contract fee receivable Yes Advances, deposits and prepayments Yes Cash and bank balances Yes .Employee retirement benefits No Liabilities against finance No Current portion of liabilities No Creditors and accrued liabilities Yes Provision for tax No Consultancy service fee Yes income Yes Share of profit of associate No Administrative expenses Yes Financial charges Yes AUDITOR-GENERAL OF PAKISTAN AUDIT PLANNING-PERMANENT FILE Form PF- X Understanding of Entity’s Business Significant Accounting Policies – Name of Entity/Organisation: National Engineering Services Pakistan (Private) Limited Significant Accounting Policies
Property, Plant and Equipment Assets subject to finance lease Intangible assets Capital work in progress Investments Loans and advances Long term security deposits Deferred tax assets Drawing and Stationery stores Contract fee receivable Advances, deposits and prepayments Cash and bank balances .Employee retirement benefits Liabilities against finance Current portion of liabilities Creditors and accrued liabilities Provision for tax Consultancy service fee income Share of profit of associate Administrative expenses Financial charges Yes No No Yes Yes Yes No No Yes Yes Yes Yes No No No Yes No Yes Yes No Yes Yes AUDITOR-GENERAL OF PAKISTAN AUDIT PLANNING-PERMANENT FILE Form PF- X Understanding of Entity’s Business – Significant Accounting Policies Name of Entity/Organisation: National Engineering Services Pakistan (Private) Limited Significant Accounting Policies
Commercial%20Audit%20Guidelines-Final%2025%20Mar%202010%20.docx