Habib Asset Management Ltd was incorporated in

Pakistan as an unquoted public limited company on September 30, 2005 under the Companies Ordinance, 1984 and obtained certificate for the commencement of business on May 8, 2006.The Company is managing First Habib Income Fund, First Habib Stock Fund and First Habib Cash Fund, which were offered for public subscription.

Organizational Structure
Board Of Directors Chief Executive (Imran Azim) Audit Committee
Head of Marketing (vacant)

Internal Audit Function unction Outsourced)

Fund Manager (Vacant)

Head Head Head Of Of Of IT Research Finance (Function Outsourced) (Aquil Raza Khoja) (Function outsourced)

AGM Marketing (Adnan Ali Khan)

AGM Treasury (Junaid Kasbati)

Company Secretary (A Aziz Siwani)

AGM Finance ( Salma Shahzad)

Deputy Manager (Vacant)

PA to CEO And Admin Incharge (M Faiyaz)

Sales Manager Corporate (Vacant)

Sales Manager Retail (Najam)

Assistant Manager Marketing (Faraz Anees)

Assistant Manager Operations (Humera)

Assistant Accounts Manager Executive (Raheel Ahmed) (Hasan Waqar

Tel Operator Peon / Rider (Vacant) Drivers 3 (1 Vacant)

Chief Audit Executive

Audit Manager

Deputy Manager Audit

Audit Trainee

Audit Trainee

1. Revenue. 2. Operating and Financial Expenses. 3. Checking the accuracy of Formation costs and its amortization. 4. Checking the accuracy of Selling Expenses. Financial Expenses and Other Expenses. 5. Fixed Assets. 6. Current Assets and Current Liabilities. 7. Investments. 8. Compliance with Laws.

Cont

1. Used methods of the existing system of accounting and internal controls established by the management. 2. Performed sampling based on random techniques and carried out review on sample selected. 3. Carried out the review of the transactions during the period on a test check basis of the areas specified by the management of the company. 4. Submitted observations to the management in the form of draft report. 5. Submitted observations to the management in the form of draft report.

Cont...

6. Submitted observations to the management in the form of draft report.

7. The reports would be finalized after the comments are received from the management.
8. Checked, on a test basis whether the Company is maintaining proper records as required by the Ordinance and NBFC Rules. 9. Reviewed Quarterly Income Tax Returns submitted by the Company 10. Discussed with the concerned staff, compliance issues of applicable provisions of the Ordinance.

Collection Cycle Commission Payments Vouching Accounting Cycle Bank Reconciliation Un-credited cheques. Unpresented cheques Cash Count

Work Program Of Fixed Assets

Work Program Of Long Term Deposits

Work Program On Advances, Deposits

Prepayments And Other Recievables Prepayments