Technology has influenced the working environment specially during this pandemic time so tremendously when remote working phenomenon has become the day order instead of physical interaction at office, said speakers at an inaugural ceremony on Wednesday.
They said in this new normal situation ICT enhanced the efficiency of officials and smoother the operational procedure of organizations.
Institute of Chartered Accountants of Bangladesh (ICAB) on Wednesday organised the event to inaugurate the ‘Automation of Best Presented Accounts & Reports Awarding Process’
The benefits of ICT based automation are very clear; it reduces the over burden of tasks, free up time to work on that adds genuine value to the work process, allows more innovative in the work process. IT generally reduces occurrence of human error by a nominal margin and ensures better product quality, they opined.
As the chief guest Information Minister Muhammad Hasan Mahmud, MP inaugurated the ceremony. ICAB President Mahmudul Hasan Khusru FCA delivered address of welcome while Council Member & Chairman of Review Committee for Published Accounts & Reports (RCPAR) chaired the programme as session chairman.
Md. Moniruzzaman FCA, Council Member and Convenor of RCPAR of ICAB spoke on theme of the event. ICAB CEO Shubhashish Bose made introductory remarks and ICAB Vice President Maria Howlader FCA delivered closing remarks.
Information Minister Muhammad Hasan Mahmud said, accountancy profession is valued around the world for their expertise in financial management and government revenue generation and building confidence for investment.
To ensure continuity of our development, integrity, transparency, accountability and good governance in business process and reporting are essential, he said.
Chartered accountants hold the key of financial accounting, auditing and reporting from different roles as preparers, presenters, auditors and strategic business partner, he added.
He also said, “I hope your professional excellence would add value to ensure good governance in organisations. This will build business confidence among stakeholders”.
ICAB President Mahmudul Hasan Khusru FCA said, objective of RCPAR web-based program is to make evaluation process easier and more trust worthy.
He informed that ICAB has already introduced a web-based ‘Document Verification System (DVS)’ which would enhance transparency of financial information of organisations. Both the initiatives will establish good corporate practice in organisations and create financial reporting eco-system in the country, he added.
ICAB Vice President Maria Howlader FCA said, ICAB has taken 19 automation projects which include automation of Accounting Module including AR & AP, Student Registration process Automation, E-Library & Library Automation, Website Revamping, RCPAR Automation, Paperless ICAB, Member Service & Payment Automation, Regulatory Automation, HR Automation and so on.
She also said, after completion of these projects, the operational costs of the ICAB would be reduced significantly at the same time productivity & reliability will be increased and it would optimize the performance of employees as well.
Automation would instill more trust and confidence of participating entities in the process of awards for Best Presented Accounts and Reports, she added.
