ICMAB has unveiled the Model Independent Cost Auditors’ Report in a ceremony held at ICMAB Bhaban, Nilkhet in the capital.
Shah Imdadul Haque, Chairman, Bangladesh Chemical Industries Corporation attended the occasion as Chief Guest while AKM Delwer Hussain FCMA, President, South Asian Federation of Accountants (SAFA) and Former President, ICMAB was present as Special Guest.
The speakers highlighted different aspects and usefulness of Cost Audit and gave emphasis to implement Cost Audit in the country for the benefit of the business itself.
“Cost Audit is not punitive in nature; it is rather suggestive which helps to achieve organizational goals and maximize profits” the speakers opined.
They also added that Cost Audit helps enterprise management to analyze cost data to reduce cost and get competitive advantage in the market.
It also helps to protect public interest and increase governments VAT and AIT.
The speakers also mentioned “Cost audit is a Statutory Audit is not a mere audit of expenses and financial accuracy; it is an audit of performance and efficiency. It is also an audit of financial morality”.
ICMAB President Abu Bakar Siddique FCMA presided over the program.
Past President and Council Member Abu Sayed Md. Shaykhul Islam FCMA presented the Model Independent Cost Auditors’ Report and spoke on the usefulness of Cost Audit.
Past President of ICMAB Md. Jasim Uddin Akond FCMA delivered the welcome address.
Chief Guest Shah Imdadul Haque unveiled the book "Model Independent Cost Auditors’ Report" and inaugurated the "CMAB Professional Consultancy Center".