Lahore: Zahur Cotton Mills Limited (ZHCM) has announced a change in its external audit arrangements following the resignation of its previous auditors, M/s Ali Akhtar Adnan, Chartered Accountants. The firm, based in Lahore, has cited reasons related to their own circumstances for their inability to continue as auditors for the fiscal year ending June 30, 2025. They have expressed regrets for any inconvenience this may have caused the company.

In response to the resignation, the Board of Directors of Zahur Cotton Mills Limited has appointed M/s Rahman Sarfraz Rahim Iqbal Rafiq, Chartered Accountants, to serve as the new external auditors. The newly appointed firm is also located in Lahore, with its office at 72-A, Faisal Town. This change is intended to fill the casual vacancy created by the departure of M/s Ali Akhtar Adnan.

According to information available from the Pakistan Stock Exchange (PSX), stakeholders including TRE Certificate holders and members of the PSX are being informed of this development. Zahur Cotton Mills Limited, which operates within the designated market category, aims to ensure a smooth transition in its auditing process.

The appointment of M/s Rahman Sarfraz Rahim Iqbal Rafiq is effective for the audit of the company's financial statements for the period ending June 30, 2025. The company has not disclosed any further details regarding the reasons behind the auditors' resignation or any potential impact on its financial reporting.