The Intercompany Balance Confirmation Letter is an essential document in Pakistani corporate practice, used to verify and document financial positions between related entities within a corporate group. It is typically prepared at regular intervals (monthly, quarterly, or annually) or when required for audit purposes. The document serves multiple purposes: it ensures accuracy in financial reporting, provides documentation for auditors, helps comply with tax authorities' requirements, and maintains transparent financial relationships between related entities. Under Pakistani law, particularly the Companies Act 2017 and SECP regulations, companies must maintain accurate records of intercompany transactions and balances. This letter helps fulfill these obligations while also serving as evidence for external auditors and regulatory compliance. It includes detailed balance information, transaction summaries, and requires formal acknowledgment from authorized representatives of both parties.
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1. Letter Header: Company letterhead, date, reference number, and addressee details
2. Subject Line: Clear indication that this is an Intercompany Balance Confirmation Letter with the relevant period
3. Opening Paragraph: Introduction identifying both companies and the purpose of the confirmation
4. Balance Statement: Clear statement of the intercompany balance amount as of the specified date
5. Balance Details: Breakdown of the main components of the balance (receivables, payables, loans, etc.)
6. Confirmation Request: Request for the recipient to confirm the stated balance and instructions for responding
7. Response Section: Space for the recipient to indicate agreement or disagreement with the stated balance
8. Authorized Signatories: Signature blocks for authorized representatives of both companies
1. Currency Statement: Required when balances are maintained in multiple currencies, specifying exchange rates used
2. Dispute Resolution: Include when there's a history of disagreements or for high-value balances
3. Balance Reconciliation Process: Add when there are complex transactions requiring explanation of how the balance was calculated
4. Compliance Statement: Include when specific regulatory or group policy compliance needs to be acknowledged
5. Confidentiality Clause: Add when sensitive financial information is included in the details
1. Detailed Transaction List: Chronological list of all intercompany transactions for the period
2. Account Reconciliation Statement: Detailed reconciliation showing how the balance was derived
3. Supporting Documents: Copies of relevant invoices, payment receipts, or journal entries
4. Previous Period Balances: Historical balance information for reference and comparison
5. Currency Translation Schedule: When multiple currencies are involved, showing conversion calculations
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Manufacturing
Financial Services
Technology
Retail
Energy
Healthcare
Telecommunications
Construction
Professional Services
Mining
Real Estate
Transportation and Logistics
Conglomerates
Relevant Teams
Finance
Accounting
Treasury
Financial Control
Internal Audit
Compliance
Legal
Corporate Secretariat
Financial Reporting
Tax
Relevant Roles
Chief Financial Officer
Financial Controller
Account Manager
Finance Manager
Corporate Accountant
Treasury Manager
Financial Analyst
Audit Manager
Company Secretary
Group Financial Controller
Financial Reporting Manager
Compliance Officer
Finance Director
Group Accountant
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