Karachi: Ali Asghar Textile Mills Limited has announced a change in its external audit firm, with M/s. Mushtaq & Co., Chartered Accountants, resigning from their position effective June 8, 2026. The board has appointed M/s. Reanda Haroon Zakaria Aamir Salman Rizwan & Co., Chartered Accountants, as the new external auditors for the financial year 2026-2027.

The decision was confirmed in a resolution passed by the board of directors during a meeting held at the company’s registered office in Karachi on June 8, 2026. The board accepted the resignation of M/s. Mushtaq & Co. and noted the consent of M/s. Reanda Haroon Zakaria Aamir Salman Rizwan & Co. to assume the role of external auditors, subject to compliance with the Companies Act, 2017, and any necessary member approvals.

According to information available from the Pakistan Stock Exchange (PSX), Ali Asghar Textile Mills Limited is undergoing a strategic reassessment of its financial oversight mechanisms. The transition in audit firms reflects the company's efforts to align with evolving corporate governance standards.

Furthermore, Ms. Tasleem Khan, the company secretary, has been authorized to manage all procedural requirements to facilitate the change in auditors, ensuring compliance with regulatory obligations. This organizational shift marks a significant step in the company's ongoing corporate governance enhancements.