List of firms having satisfactory QCR ratings maintained under QCR framework 2024

Firms with valid QCR Rating (As of June 16, 2025)

Based on our review, nothing has come to our attention that causes us to believe that these firms have not carried out the audit of their clients in accordance with the International Standards on Auditing,
relevant ethical requirements or legal and regulatory requirements as applicable in Pakistan.

This opinion has been expressed for the limited purpose of communicating our understanding of the adherence to the professional standards by these firms in conducting the audit of their clients. This
does not in any way absolve or reduce the professional responsibility of these firms in expressing their audit opinion on the financial statements of audit clients.

Name of audit partners updated as of June 16, 2025 based on the Audit Oversight Board and ICAP membership records.

Date of assignment
S. No Name of the Firm of satisfactory QCR QCR rating valid till Category of QCR Rating of the Firm Name of Audit Partners
rating
1 A. Aziz Chaudhury & Co. 31-Oct-23 31-Oct-26 Satisfactory Mr. Sarfraz Chaudhury
2 A. B. M. & Co. 29-Apr-24 29-Apr-27 Satisfactory Mr. Azeem Ullah
Mr. Abdullah Akhawala
3 A. D. Akhawala & Co. 19-Mar-24 19-Mar-27 Satisfactory Mr. Imran Siddiqui
Mr. Mubashir Amin
Mr. Muhammad Sohail
Mr. Aftab Ahmad
Mr. Amer Raza Mir
Mr. Asad Aleem Mirza
Mr. Asim Masood Iqbal
Mr. Azhar Hussain
Mr. Farrukh Rehman
Mr. Hammad Ali Ahmad
Mr. Jehanzeb Amin
Mr. Junaid Meisa
Mr. Khattab Baig
Mr. Khurram Akbar Khan
Mr. Khurshid Hasan
4 A. F. Ferguson & Co. 3-Nov-23 3-Nov-25 Satisfactory Mr. M. Imtiaz Aslam
Mr. Muhammad Ahsan Nadeem
Mr. Muhammad Aleem Zubair
Mr. Muhammad Masood
Mr. Noman Abbas Sheikh
Mr. Osama Kapadia
Mr. Osama Moon
Mr. Salman Hussain
Mr. Shahbaz Akbar
Mr. Syed Fahim-ul- Hasan
Mr. Syed Muhammad Hasnain
Mr. Usman Ali
Mr. Waqas Aftab Sheikh
Mr. Asad Rasul
5 A. H. W. & Co. 6-Jun-23 6-Jun-26 Satisfactory Mr. Hassan Ishtiaq
Mr. Waqar Sharif
6 A. Shahbaz & Co. 16-May-25 16-May-28 Satisfactory Mr. Aamir Shahbaz
7 Abbas & Co. 15-Dec-22 15-Dec-25 Satisfactory Mr.Ghulam Abbas
8 Abdan & Co. 6-Oct-23 6-Oct-25 Satisfactory Mr. Iqbal Ahmad Abdan
9 Abdul Khaliq & Co. 11-Mar-24 11-Mar-27 Satisfactory Mr. Abdul Khaliq
10 Abdul Rahman & Co. 11-Nov-22 11-Nov-25 Satisfactory Mr. Abdul Rahman
11 Akram & Co. 15-Dec-22 15-Dec-25 Satisfactory Mr. Muhammad Akram
Mr. Adeel Mirza
12 Alam & Aulakh 16-May-25 16-May-26 Satisfactory with improvements required Mr. Muhammad Bin Qasim
Mr. Aqeel Alam
Mr. Shan Ibrahim
Mr. Mian Ahmed Farhan
13 Mr. Muhammad Akhtar
Ali Akhtar Adnan 19-Oct-22 19-Oct-25 Satisfactory
Mr. Shahzad Akhtar
Mr. Muhammad Ali
14 Amin & Co. 25-Jan-23 25-Jan-26 Satisfactory Mr. Shaukat Amin Shah
Mr. Naeem Maqsood
15 Amin Mudassar & Co. 29-Jul-24 29-Jul-26 Satisfactory Mr. Ghulam Mudassar
Mr. Muhammad Daoud
16 26-Dec-24 26-Dec-25 Mr. Habib Fakhruddin
Amir Alam Khan & Co. Satisfactory with improvements required
Mr. Abdul Basit
17 Arshad Raheem & Co. 28-Feb-24 28-Feb-26 Satisfactory Mr. Arshad Raheem
Mr. Faisal Masood Afzal
18 Ather Rasool Imran & Co. 30-Aug-24 30-Aug-25 Satisfactory with improvements required Mr. Ghulam Rasool
Mr. M. Imran Sarver
Mr. Nadeem Anwar
Mr. Bilal Ahmed Khan
Mr. M. Abdur Rub Khan
Baker Tilly Mehmood Idrees Mr. Mehmood A. Razzak
19 8-Nov-24 8-Nov-26 Satisfactory
Qamar Mr. Muhammad Abu Bakar
Mr. Muhammad Aqeel Ashraf Tabani
Mr. Siraj Ahmed
Mr. Abdul Qadeer
Mr. Arqam Ayubi
Mr. Atif Riaz
Mr. IIffat Hussain
20 BDO Ebrahim & Co 8-Oct-24 8-Oct-26 Satisfactory Mr. M. Imran
Mr. Muhammad Kamran
Mr. Qasim Ebrahim Causer
Mr. Sajjad Hussain Gill
Mr. Tariq Feroz Khan
Mr. Zulfikar Ali Causer
21 Daudally Lalani & Co. 28-Feb-25 28-Feb-26 Satisfactory with improvements required Mr. Sohail Lalani
22 Dawood Saif & Co 8-Oct-24 8-Oct-27 Satisfactory Mr. Ahmed Saif Uz Zafar
Mr. Dawood Khan
Mr. Amin Ali
Mr. C.A Habib
Mr. Imran Shaikh
23 Crowe Hussain Chaudhury & Co. 19-Sep-24 19-Sep-26 Satisfactory Mr. Iqbal Hussain
Mr. Muhammad Nasir Muneer
Mr. Najeeb Moochhala
Mr. Shahzad Qazi
Mr. Arslan Khalid
24 EY Ford Rhodes 26-Oct-23 26-Oct-25 Satisfactory Mr. Omer Chughtai
Mr. Shaikh Salman
25 F. R. Merchant & Co. 24-Sep-24 24-Sep-27 Satisfactory Mr. Ahmer Zafar Siddiqui
26 Fatah & Co. 24-Sep-24 24-Sep-27 Satisfactory Mr. Kamil Fatah
Mr. Muhammad Faisal Nini
27 Faruq Ali & Co. 28-Jan-25 28-Jan-26 Satisfactory with improvements required Mr. Fasih Uz Zaman
Mr. Umer Farooq
Mr. Fazal Mahmood
28 Fazal Mahmood & Co. 31-Oct-23 31-Oct-25 Satisfactory Mr. Muhammad Imran Akhtar
Mr. Sharafat Ali
29 Feroze Sharif Tariq & Co. 30-Jan-24 30-Jan-26 Satisfactory Mr. Mohammad Ghalib
Mr. Mohammad Tariq
 List of firms having satisfactory QCR ratings maintained under QCR framework 2024

Date of assignment
S. No Name of the Firm of satisfactory QCR QCR rating valid till Category of QCR Rating of the Firm Name of Audit Partners
rating
Mr. Hassaan Riaz
Mr. Imran Afzal
Mr. Khaliq ur Rehman
30 Grant Thornton Anjum Rahman 29-Jan-24 29-Jan-26 Satisfactory Mr. Khurram Jameel
Mr. Muhammad Khalid Aziz
Mr. Muhammad Shaukat Naseeb
Mr. Waqas Waris
31 Gul Ahmed & Co. 28-Jan-25 28-Jan-28 Satisfactory Mr. Naufal Gul Ahmed
Mr. Tanzil Ahmed
Mr. Idrees Dawson
Mr. Mohammad Asif Raza
Mr. Muhammad Nadeem
32 H. A. M. D. & Co. 13-May-25 13-May-26 Satisfactory with improvements required Mr. Muhammad Nasir Jamil
Mr. Syed Saad Hasan
Mr. Tahir Saeed
Mr. Waseem Ashfaq
33 Hameed Zahid & Co. 29-Aug-23 29-Aug-26 Satisfactory Mr. Zahid Hameed
34 Hashmi & Co. 28-Feb-25 28-Feb-28 Satisfactory Mr. Khalid Adeeb
Mr. Abdul Rafay
35 Hasnain Ali & Co 29-Aug-23 29-Aug-25 Satisfactory Mr. Hasnain Adam Ali
Mr. Farooq Hamid
36 Hassan Farooq & Co. 11-Jul-24 11-Jul-25 Satisfactory with improvements required Mr. Kamran Hassan
Mr. Muhammad Imran Hassan
Mr. Ijaz Akber
37 HLB Ijaz Tabussum & Co. 26-May-25 26-May-26 Satisfactory with improvements required Mr. Sheikh Muhammad Saleem Ahsan
Mr. Waqas Firdous
Ms. Saira Tabussum
Mr. Imran Ilyas
Mr. Muhammad Maqbool
38 Mr. Shahid Mehmood
Ilyas Saeed & Co. 6-Feb-25 6-Feb-26 Satisfactory with improvements required
Mr. Tahir Shah
Ms. Bushra Sana
Ms. Hina Usmani
39 Iqbal Yasir & Co. 1-Nov-23 1-Nov-26 Satisfactory Mr. Yasir Riaz
Mr. Muhammad Iqbal Khan
40 Ishtiaq Rana & Co. 18-Nov-22 18-Nov-25 Satisfactory Mr. Laeeq Ahmed Rana
41 Izhar & Co. 19-Oct-22 19-Oct-25 Satisfactory Mr. Izhar-Ul-Haq
42 Jalis Ahmad & Co. 14-Mar-24 14-Mar-26 Satisfactory Mr. Shaikh Jamal Yousuf
43 Javaid Jalal Amjad & Co. 30-Jan-24 30-Jan-27 Satisfactory Mr. Mohammad Javaid Iqbal Khan
44 Javed & Co. 8-May-24 8-May-27 Satisfactory Mr. Javed Iqbal Khan
Mr. Farrukh Viqaruddin Junaidy
45 Mr. Rukhsar Ahmed
Junaidy Shoaib Asad 20-Aug-24 20-Aug-25 Satisfactory with improvements required
Mr. Shahid Hussain
Mr. Shoaib Ahmad Waseem
46 Kaleem & Co. 29-Aug-23 29-Aug-25 Satisfactory Mr. Muhammad Kaleem Rathor
47 Kamran & Co. 31-Oct-23 31-Oct-25 Satisfactory Mr. Kamil Fatah
Mr. Kamran Fatah
Mr. Ahsin Tariq
Mr. Amyn Malik
Mr. Atif Zamurrad Malik
Mr. Bilal Ali
Mr. Fahad Bin Waheed
Mr. Inam Ullah
48 KPMG Taseer Hadi & Co. 3-Nov-23 3-Nov-25 Satisfactory Mr. Muhammad Danish
Mr. Muhammad Taufiq
Mr. Muhammad Ubbaid Ullah
Mr. Rehan Chughtai
Mr. Riaz Akbar Ali Pesnani
Mr. Zeeshan Rashid
Ms. Amyn Pirani
Ms. Moneeza Usman Butt
Mr. Fahad Ali Shaikh
Mr. Khan Muhammad
Mr. Mohammad Hanif Razzak
Mr. Muhammad Ali
49 Kreston Hyder Bhimji & Co. 24-Nov-23 24-Nov-25 Satisfactory Mr. Muhammad Usman Shah
Mr. Muhammad Yousaf Warsi
Mr. Shabir Ahmed
Mr. Shaikh Mohammad Tanvir
Mr. Syed Aftab Hameed
Mr. Taswar Hussain
The last satisfactory QCR Report was
issued to the the Firm on December 27,
2017. Further, QAB is unable to carry out
50 M. A. Chaudhri & Co. - - Mr. Mubarik Ali
any further reviews and assign latest
rating due to pending litigation and interim
injunction.
51 M. R. M. E. & Co. 3-Oct-23 3-Oct-26 Satisfactory Mr. Mudassar Raza
Mr. Malik Haroon Ahmad
Mr. Muhammad Nawaz
52 Malik Haroon Ahmad & Co. 16-May-24 16-May-26 Satisfactory
Mr. Muhammad Safder
Mr. Shahid Mahmood
Mr. Masoom Akhtar
53 Masoom Akhtar & Co. 22-Feb-24 22-Feb-26 Satisfactory
Syed Shabbar Hussain Shah
54 MAZARS M.F. & Co. 29-May-24 29-May-26 Satisfactory Mr. Muhammad Saqlain Siddiqui
Mr. Naseem Akbar
55 Mian Saleem & Co. 30-Jan-24 30-Jan-26 Satisfactory Mr. Mohammad Saleem
Mr. Tariq Mahmood
56 Mohsin & Co. 26-May-25 26-May-26 Satisfactory with improvements required Mr. Mohsin Nusrullah
57 Moore Shekha Mufti 4-Nov-24 4-Nov-26 Satisfactory Mr. Muhammad Jawwad Shekha
Mr. Adnan Ahmad Mufti
58 Muhammad Ali Hussain & Co. 28-Jan-25 28-Jan-28 Satisfactory Mr. M. Ali Saif Cheema
Mr. Zeeshan Aslam
59 Munaf Yusuf & Co. 4-Jul-24 4-Jul-25 Satisfactory with improvements required Ms. Tasneem Yousuf
Mr. Mansoor Yaqoob
Mr. Arqum Naveed
Mr. Hammad Farid
Mr. Muhammad Ali Latif
60 Muniff Ziauddin & Co. 28-Nov-24 28-Nov-26 Satisfactory Mr. Muhammad Moin Khan
Mr. Salim Sadruddin
Mr. Shahid Farid
Mr. Sohail Saleem
61 Nadeem Safdar & Co. 21-Jul-22 21-Jul-25 Satisfactory Mr. Nadeem Safdar
62 Naeem & Co 27-Jan-25 27-Jan-28 Satisfactory Mr. Muhammad Naeem
63 Nasir Jamil & Co. 26-Nov-24 26-Nov-25 Satisfactory with improvements required Mr. Nasir Jamil
64 Omer Adil & Co. 29-Nov-24 29-Nov-25 Satisfactory with improvements required Mr. Omer Adil
Mr. Ejaz Hussain Rathore
Mr. Mahmood Saeed
65 PKF F.R.A.N.T.S. 13-Mar-24 13-Mar-26 Satisfactory Mr. Muhammad Talib
Mr. Nouman Razaq Khan
Mr. Zeeshan Ali
Mr. Zulfiqar Ahmed Nasir
 List of firms having satisfactory QCR ratings maintained under QCR framework 2024

Date of assignment
S. No Name of the Firm of satisfactory QCR QCR rating valid till Category of QCR Rating of the Firm Name of Audit Partners
rating

Mr. Saifullah
66 Rafaqat Babar & Co. 4-Nov-24 4-Nov-26 Satisfactory Mr. Amer Javed Ahmad
Mr. Shuja-Ul-Malik
67 Rafqat Hussain & Co 6-Jun-23 6-Jun-26 Satisfactory Ms. Bushr Sana
Mr. Nazir Ahmed Chaudhri
68 Rao & Company 18-Nov-24 18-Nov-25 Satisfactory with improvements required Mr. Abdul Rafay
Mr. Khalid Adeeb
Mr. Shafqat Raza
Mr. Farhan Ahmed Memon
Mr. Muhammad Farooq
Mr. Muhammad Haroon
Reanda Haroon Zakaria Aamir Mr. Muhammad Iqbal
69 Salman Rizwan & Co. (Formerly 5-Oct-23 5-Oct-25 Satisfactory Mr. Muhammad Yameen
Reanda Haroon Zakaria & Co.) Mr. Aamir Shahbaz
Mr. Ahmad Salman Arshad
Mr. Muhammad Rizwan
Mr. Zakaria
Mr. Atif Anjum
Mr. Bilal Ahmad
Mr. Junaid Ashraf
70 Mr. Liaqat Ali Panwar
Riaz Ahmad & Co. 24-Nov-23 24-Nov-25 Satisfactory
Mr. Mubashar Mahmood
Mr. Muhammad Waqas
Mr. Raheel Arshad
Mr. Syed Mustafa Ali
Mr. Gohar Manzoor
71 Riaz Ahmad, Saqib, Gohar & Co. 29-Jul-24 29-Jul-26 Satisfactory Mr. Muhammad Ali Rafique
Mr. Muhammad Kamal Gohar
Mr. Shahid Kamran Khan
Mr. Imran Bashir
72 Mr. Moin Siddiq
Rizwan & Co. 8-May-24 8-May-26 Satisfactory
Mr. Rashid Iqbal
Mr. Sharjeel Ayub
Mr. Adnan Zaman
Mr. Hamid Masood
RSM Avais Hyder Liaquat Mr. Inam Ul Haque
73 8-Apr-24 8-Apr-26 Satisfactory
Nauman Mr. Muhammad Arif Saeed
Mr. Syed Ali Adnan Tirmizey
Mr. Syed Naveed Abbas
74 S. M. A. R. T. 2-Oct-23 2-Oct-26 Satisfactory Mr. Shamail Shahid
Mr. S.M. Suhail
75 S. M. Suhail & Co. 8-Oct-24 8-Oct-26 Satisfactory Mr. Aneel Peter
Mr. Syed Imran Haider
76 Saeed Ul Hassan & Co. 28-Oct-22 28-Oct-25 Satisfactory Mr. Saeed ul Hassan
77 Mr. Ch. Shafaqat Ali
Shafaqat Hassan Majid & Co. 30-Aug-24 30-Aug-25 Satisfactory with improvements required
Mr. Hassan Maqsood Ahmad Aujla
78 Shahbaz Hannan & Co. 6-May-23 6-May-26 Satisfactory Mr. Muhammad Shahbaz Saeed
79 Sheikh & Chaudhri 11-Jan-24 11-Jan-26 Satisfactory Mr. Saad Ali Rana
Mr. Iftikhar A. Chaudhry
Mr. Nafees ud din
ShineWing Hameed Chaudhri &
80 2-Nov-23 2-Nov-25 Satisfactory Mr. Osman Hameed Chaudhri
Co.
Mr. Raheel Ahmed
Mr. Talat Javed
81 Tabussum Saleem & Co 22-May-25 22-May-26 Satisfactory with improvements required Ms. Saira Muddassar
82 Mr. Tahir Siddiqi
Tahir Siddiqi & Co. 10-Jul-24 10-Jul-25 Satisfactory with improvements required
Ms. Sarah Tahir Siddiqi
Mr. Hasan Rehman
Mr. Irfan ul Haq Haqui
83 Tariq Abdul Ghani & Co. 6-May-24 6-May-26 Satisfactory Mr. Muhammad Safdar
Mr. Shahid Mehmood
Mr. Younus Mohiuddin
Mr. Ibne Hassan
84 Mr. Imran Iqbal
UHY Hassan Naeem & Co. 17-Oct-24 17-Oct-25 Satisfactory with improvements required
Mr. Malik Arslan Ahmed
Mr. Muhammad Shahid Farooq
85 Ms. Hina Usmani
Usmani & Co. 12-May-25 12-May-28 Satisfactory
Ms. Huma Pasha
86 Uzair Hammad Faisal & Co. 4-Nov-24 4-Nov-27 Satisfactory Mr. Uzair Ahmad Malik
87 Waqas & Co. 14-Nov-22 14-Nov-25 Satisfactory Mr. Muhammad Waqas Khalid
88 Yaqub & Co. 30-May-24 30-May-27 Satisfactory Mr. Muhammad Yaqub
Mr. Arif Nazeer
Mr. Hamid Masood
Mr. Muhammad Sufyan
Mr. Nadeem Yousuf Adil
89 Yousuf Adil 26-Aug-24 26-Aug-26 Satisfactory Mr. Rana M. Usman Khan
Mr. Shafqat Ali
Mr. Shahzad Ali
Mr. Syed Asmatullah
Ms. Hena Sadiq
Mr. Aamir Salim Toor
90 Yusaf Saeed & Co. 26-Jul-22 26-Jul-25 Satisfactory Mr. Abdul Ghaffar
Mr. Yusaf Mian Saeed
91 Z. M. T. & Co. 30-Aug-24 30-Aug-25 Satisfactory with improvements required Mr. Muhammad Mehran Ur Rashid
92 Zaheer Babar & Co. 15-Dec-22 15-Dec-25 Satisfactory Mr. Zaheer-ud-din Babar
Mr. Adeel Anwar
Mr. Faisal Siddiqi
Mr. Hassaan
93 Zahid Jamil & Co. 10-Sep-24 10-Sep-25 Satisfactory with improvements required Mr. Muhammad Amin
Mr. Muhammad Jameel Tahir
Mr. Muhammad Mazhar Arshad
Mr. Syed Ali Hasnain Shah
94 Zulfiqar Ahmad & Co. 29-Mar-24 29-Mar-27 Satisfactory Mr. Zulfiqar Ahmed
 List of firms having satisfactory QCR ratings maintained under QCR framework 2024

Firms where the QCR validity of firm has expired (As of June 16, 2025)

Where the QCR validity of firm has expired, the QCR rating of the firm remains valid as the QCR renewal is in process
Based on our review, nothing has come to our attention that causes us to believe that these firms have not carried out the audit of their clients in accordance with the International
Standards on Auditing, relevant ethical requirements or legal and regulatory requirements as applicable in Pakistan.

This opinion has been expressed for the limited purpose of communicating our understanding of the adherence to the professional standards by these firms in conducting the audit of their
clients. This does not in any way absolve or reduce the professional responsibility of these firms in expressing their audit opinion on the financial statements of audit clients.

Name of audit partners updated as of May 31, 2025 based on the Audit Oversight Board and ICAP membership records.

Date of assignment QCR rating

QCR rating valid Category of QCR Rating of the
S. No Name of the Firm of satisfactory QCR expired by Name of Audit Partners
till Firm
rating number of days
1 A. A. Baig & Co. 4-May-23 4-May-25 43 Satisfactory Mr. Asad Ali Baig
2 A. M. Laliwala & Co. 18-Jan-22 18-Jan-25 149 Satisfactory Mr. Saleem Ahmed Laliwala
3 Ahmed Mushir & Salariya 13-Aug-20 13-Aug-23 673 Satisfactory Mr. Hassan Ali Qadri

4 Ale Imran & Co. 19-Oct-20 19-Oct-22 971 Satisfactory Mr. Ale Imran Siddiqi
Mr. Muhammad Kamran
Aslam
5 Aslam Malik & Co. 12-Jun-23 12-Jun-25 4 Satisfactory
Mr. Hafiz Muhammad Ahmad

Syed Ali Adnan Tirmizey

Mr. Adnan Zaman
6 Avais 20-May-22 20-May-25 27 Satisfactory
Mr . Bilal Ahmed
Syed Naveed Abbas
Mr. Zafar Iqbal
7 Azhar Zafar & Co. 22-May-23 22-May-25 25 Satisfactory
Mr. Tallat Mehboob
Mr. Asif Mubeen
Satisfactory with improvements Mr. Mustafa Lakhani
8 Clarkson Hyde Saud Ansari 29-May-24 29-May-25 18
required Mr. Saud Ansari
Ms. Fatima Shumaila
Mr. Muhammad Faiz-ur-
9 Faiz & Co. 14-Mar-22 14-Mar-25 94 Satisfactory
Rahman
Mr. Muhammad Younas
10 Ghazi & Co. 16-Nov-20 16-Nov-23 578 Satisfactory
Ghazi

Mr. Badrur Rahman

11 Hafizullah & Co. 2-Jun-22 2-Jun-25 14 Satisfactory
Mr. Syed Hafizullah

Satisfactory with improvements

12 Hasnain Rashid & Co. 16-May-24 16-May-25 31 Mr. Muhammad Rashid Khan
required
Mr. Ghulam Mudassar
13 Ibrahim, Shaikh & Co. 23-Jan-23 23-Jan-25 144 Satisfactory Mr. Imran Ahmed Zaki
Mr. Iqbal Ahmad Abdan
14 Mr. Muhammad Ijaz
M. Almas & Co. 9-Mar-23 9-Mar-25 99 Satisfactory
Mr. Mohammad Almas
15 M. Saleem Associates 7-Jan-20 7-Jan-23 891 Satisfactory Mr. Muhammad Saleem
16 Mahboob Sheikh & Co. 2-Apr-18 2-Apr-21 1536 Satisfactory Mr. Mahboob Sheikh
17 Malik & Co. 24-Mar-23 24-Mar-25 84 Satisfactory Mr. Muhammad Asad Waqas
Mr. Zahid Hussain Zahid
Mr. Abdul Qaddos
18 Mushtaq & Co. 15-Dec-22 15-Dec-24 183 Satisfactory Mr. Abubakar Bilwani
Mr. Muhammab Taiyab
Mr. Nouman Arshad
Mr. Imran-ul-Haq
19 27-Jan-23 27-Jan-25 Mr. Mohammad Javaid Qasim
Nasir Javaid Maqsood Imran 140 Satisfactory
Mr. Mohammad Maqsood
Mr. Nasir Gulzar
20 Naveed Mukhtar & Co. 28-Jan-22 28-Jan-25 139 Satisfactory Mr. Naveed Mukhtar Rana
Mr. Aftab Ahmad
Mr. Ahsan Elahi Vohra
Conclusion of last QCR report
Mr. Azeem Hussain Siddiqui
dated October 11, 2023 was
Naveed Zafar Ashfaq Jaffery Mr. Javed K. Siddiqui
21 9-Jan-24 unsatisfactory which has been set
& Co. Mr. Mukhtar H. Jaffery
aside by the Appellate Board and
the new QCR is pending. Mr. Qazi Wajeeh Uddin
Mr. Shah Naveed Saeed
Mr. Shahid Mohsin Sheikh
Mr. Ahmed Jabbar
Mr. Faisal Iqbal Khawaja
Mr. Junaid Subhani
Mr. Muhammad Masood
22 Parker Russell-A. J. S. 1-Nov-22 1-Nov-24 227 Satisfactory Shahid
Mr. Muhammad Shabbir
Kasbati
Mr. Muhammad Zeeshan
Abid
Mr. Adnan Rashid

Mr. Ali Raza Jaffery

Mr. Muhammad Rafiq Dosani

Rahman Sarfaraz Rahim Iqbal
23 8-Jun-23 8-Jun-25 8 Satisfactory
Rafiq Mr. Muhammad Waseem

Mr. Rashid Rahman Mir

Mr. Zubair Irfan Malik

24 Riaz & Co. 10-Mar-22 10-Mar-25 98 Satisfactory Mr. Riaz Ahmed

25 Rizwani Imtiaz & Co. 7-Jan-20 7-Jan-23 891 Satisfactory Mr. Abdul Qadir
26 8-May-23 8-May-25 Mr. Muhammad Yousaf
Saeed Kamran & Co. 39 Satisfactory
Mr. Younus Kamran
Mr. Nadeem Ahmad
27 Sarwar Awan & Co. 27-Dec-18 27-Dec-21 1267 Satisfactory
Ghaznavi
28 Mr. Nauman Rafique
Suriya Nauman Rehan & Co. 15-Dec-22 15-Dec-24 183 Satisfactory
Mr. Hasnain Adam Ali
29 Viqar A. Khan & Co. 9-Mar-22 9-Mar-25 99 Satisfactory Mr. Viqar Ahmed Khan
30 Mr. Ali Ahmad
Zahid Ali Faisal Asjad & Co. 18-Jan-22 18-Jan-25 149 Satisfactory
Mr. Zahid Noor
 List of firms having satisfactory QCR ratings maintained under QCR framework 2024

Firms restored in the list through court orders

Name of audit partners updated as of June 16, 2025 based on the ICAP membership records.

Category of QCR Rating of the

S. No Name of the Firm Name of Audit Partners
Firm
Conclusion of last QCR report dated
February 26, 2019 was
unsatisfactory.The firm name was
restored through Court order. Case
1 Akhter Mahmood Mian Mr. Jamil Akhter Baig
No: (19785/2021) (Court: Senior Civil
Judge, Lahore) (Dated: 30-04-2021)
pending final adjudication.

Conclusion of last QCR report dated

October 7, 2020 was unsatisfactory.
The firm name was restored through
a Court order. Case No:
2 Ishtiaq Ahmad & Co Muhammad Asim (14934/2025) (Court: Senior Civil
Judge, Lahore) (Stay Order Dated:
21-04-2025) pending final
adjudication.

Conclusion of last QCR report dated

Mr. Arsalan Salahuddin Vardag
March 27, 2023 was
unsatisfactory.The firm name was
restored through Court order. Case
3 J. A. S. B. & Associates No: (82663/2023) (Court: Civil Judge
Mr. Basharat Rasool West, Islamabad) (Dated: July 03,
2023) pending final adjudication.

Conclusion of last QCR report dated

July 22, 2022 was unsatisfactory.The
firm name was restored through
Court order. Case No: (45951/2024)
4 Nauman Javed Hasnain Rashid Muhammad Rashid Khan
(Court: Senior Civil Judge, Lahore)
(Dated: 12-12-2025) pending final
adjudication.

QAB concluded ‘Unsatisfactory’

Mr. Nawaz Khan
rating in last QCR report dated May
15, 2023 and QAB’s decision was
upheld by Appellate Board. The firm’s
name was restored in the list of firms
having satisfactory QCR rating
5 Qadeer & Co.
through court order. Writ petition
Mr. Abdul Rahman number 5179/2024 dated March 20,
2025. However, this restoration has
been contested by filing C.P.L.A.

QAB concluded ‘Unsatisfactory’

rating in last QCR report dated
November 29, 2022 and QAB’s
decision was upheld by Appellate
Board. The firm’s name was restored
in the list of firms having satisfactory
Rafaqat Mansha Mohsin Dossani QCR rating through court order. Writ
6 Mr. Mohsin Nadeem
Masoom & Co. Petition number 20778/2024 &
3597/2025 dated March 20, 2025.
However, this restoration has been
contested by filing C.P.L.A.

Conclusion of last QCR report dated

Mr. Asim Nazir Sheikh
October 05, 2021 was
unsatisfactory.The firm name was
7 Sarwars restored through Court order. Suit
No: (4025/2022) (Court: Senior Civil
Mr. Rashid Sarwar
Judge) (Dated: 31-01-2022) pending
final adjudication.