People are afraid of going to police station and court as they think the judiciary has become corrupt, he said while speaking as the chief guest at a seminar on "Public Accountant's Liability: An Overview" organised by the Institute of Chartered Accountants of Bangladesh (ICAB) at its auditorium in the city.

"What is left if the judiciary itself becomes corrupt?" Moudud questioned, adding that only the judiciary reform is not enough, rather many other related factors also have to be improved.

The minister said professions of law and accounting are different from others as these professions are a combination of knowledge, legal obligation, social evaluation and ethical aspects.

He said the tax payment of a company or an institution depends on the financial statements of that organisation prepared by the public accountants. Urging the public accountants not to compromise with morality, he said, "You have to be honest, responsible and liable in your profession. And I believe that money is not everything in life."

Addressing the function, ICAB President Sheikh A Hafiz said a public accountant is responsible for issuing an independent opinion on a set of financial statements without being biased.

He alleged that some small accounting firms are not doing business in proper way and may create a threat to the whole profession.

MA Baree, former ICAB president, presented the keynote paper at the seminar while former deputy prime minister and ex-president of ICAB Jamal Uddin Ahmed conducted the session.