Z.

A Nasir & Co
Chartered Accountants

Erasmus (Pvt.) Limited

Audit for the year ended 30th June, 2016
Job In charge: Mr.Abdul Basit

Dated: November 1, 2016

Audit Points to discuss with Partner

1. Land
2. Should we provide provision in accounts for advance for Rs.1 million given to Patoki Nursery Farms
(FIR to be register)?
3. No Supporting for rent paid for guest house Islamabad amount Rs.1, 020,000.
4. WHT relating to The college of Law building rent for the year 2014 is still unpaid.
5. WHT relating to University of Gujrat buildings rent for the current year is underpaid by the
amount of Rs.998, 117.
6. Company can no longer pay tax as Small Company under normal taxation policy because
average number of employees has exceeded by 250 in the month of Feb 2016.
7. Company is Paying fee Share to UOG Main Campus @ Rate of 18% without updating in MOU
which has resulted in overpayment of Rs.17.9 Million this year as compared to previous year as
per Old MOU.
8.