ISLAMABAD -  Ministry of Finance has issued a notification for appointment of chairman and members of the Audit Oversight Board (AOB), formed under the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997).

According to the notification, Dr Tariq Hassan has been appointed as the chairman of AOB, whereas, Ahmad Saeed, Muhammad Naeem, Faresa Jafarey Ahsan, Shahid Ghaffar, Tariq Iqbal Khan, and Asif Usman appointed as the members.

These appointments have been made with immediate effect for the period of three-year. The appointments have been made on the recommendation of the nominating committee comprising the SECP chairman, Finance Division secretary, SBP governor and ICAP president.

All the appointees are eminent professionals having vast experience in the relevant fields. Dr Tariq is an attorney practicing law and served as the former chairman of SECP and adviser to the finance minister in the past. Saeed is a fellow member of the ICAP and the Institute of Cost & Management Accountants of Pakistan (ICMAP). Naeem is also a chartered accountant and is presently serving as a board member of the NBP and the PSX. He has also served as chairman of Lahore Stock Exchange in the past.

Faresa is a leading corporate lawyer and is currently associated with LMA Ebrahim Hosain. Shahid is currently working as managing director of National Investment Trust. He has also served as SECP commissioner and KSE MD in the past. Tariq is also a fellow chartered accountant and has served at numerous key positions such as ISE president, FBR member and SECP commissioner. Asif is a retired BPS-22 officer of the Pakistan Audit & Accounts Service and remained Controller General of Accounts.

The AOB is a body formed under the SECP Act, 1997 to regulate the audit profession in the country. Its functions among many others include registration and de-registration of audit firms which intend to carry out audit of public interest companies, oversight and review of the Quality Assurance Board of the Institute of Chartered Accountants of Pakistan (ICAP) etc.