Call to make compliance of auditing standards mandatory
Bdnews, Dhaka
Speakers at a seminar have voiced their disappointment over the non-compliance of auditing and accounting standards by the companies, calling for new laws to make it mandatory.Managing Director of Nirman International KZ Islam and past president of ICAB MJ Abedin were speaking at the seminar on related parties organised by the Institute of Chartered Accountants of Bangladesh (ICAB) Wednesday in Dhaka. ICAB President Sheikh A Hafiz presided over the seminar where M Farhad Hussain and Md Zohirul Islam presented the keynote paper. KZ Islam said the Bangladesh Accounting Standard (BAS) and the Bangladesh Audit Standard (BAS) are good theoretically, but 95 percent of the companies in the country are not practising accounting and audit standards. He said a utopian situation is prevailing in audit and accounting practices as there was no monitoring system in Bangladesh. Only some of the listed companies maintain the accounting and audit standards in Bangladesh.
| 
