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The Finance Department

The Finance is responsible for directing and controlling the areas of accounting, facilitating overall operations of the SECP and ensuring its smooth functioning. It is responsible for directing and controlling the areas of accounting, treasury management, budgeting and preparation of periodic financial reports of the SECP.

 
 
Functional Profile

Finance Wing
The Finance Wing process payments for authorized transactions of the SECP while ensuring that payments are in accordance with the laid down policies and procedures. It also liaises with banks to ensure that banking arrangements are adequate and undertakes investment of surplus funds. Its functions include payments to suppliers and employees, bank operation and reconciliation, treasury management and taxation.

Accounts Wing
The Accounts Wing is responsible for the preparation of budget and obtaining approval from the Securities and Exchange Policy Board in this regard. Furthermore, it monitors actual expenditure against budgeted limits. The Wing is also responsible for maintaining proper books of accounts for the SECP. This includes recording of all transactions for receipts and payments, fixed assets, other assets and liabilities while ensuring that internal controls are properly adhered to. The Accounts Wing ensures that financial statement are prepared, audited and approved for submission to the Federal Government in a proper and timely manner. It also prepares and distributes monthly management information reports within the SECP and liaises with the external auditors. Its function includes General Accounts i.e. general, revenue, fixed assets and CROs accounting and Management Accounts i.e. Budgeting, Monthly MIS reports, Capex Control and Other management information..

Staff Funds Wing
This wing is responsible for management of SECP Employees Provident Fund, SECP Employees Pension Fund, SECP Employees Gratuity Fund in consultation with the Trustees of the fund..

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