Institute of Chartered Accountants of Bangladesh (ICMAB) has urged the BSEC to closely monitor the listed companies, who are not complying with the mandatory cost audit obligation as per the directives of the Ministry of Commerce and the BSEC by enacting the appropriate provision in the Corporate Governance Code for the wider interest of the government, shareholders and society.
ICMAB made the urge while a delegation of the body, led by its President Md Abdur Rahman Khan, met Professor Shibli Rubayat-Ul-Islam, Chairman of Bangladesh Securities and Exchange Commission (BSEC), at his office on Tuesday.
ICMAB leaders also requested BSEC to appoint the members of ICMAB as independent directors in various listed companies.
During the meeting, they discussed different matters related to the development of the CMA profession in Bangladesh. The ICMAB President apprised the BSEC Chairman of the present status and activities of the Institute and sought all out support from BSEC for the further development of the CMA profession, said a press release. Abdur Rahman Khan thanked the BSEC chairman for issuing a directive for certification of the Cost of Goods sold statement by CMA professionals on case to case basis and requested him to implement this directive by assigning the specific job to the CMA firms for conducting the said Cost of Goods Sold audit.
He also requested BSEC to appoint the members of ICMAB as independent directors in various listed companies.
The BSEC Chairman highly appreciated the role of CMAs in the economic development of Bangladesh and assured the delegation to provide full assistance for the further development of the CMA profession.
Former ICMAB presidents - Mohammed Salim and Arif Khan, vice president Mahtab Uddin Ahmed, secretary Md Kausar Alam, treasurer Md Akhtaruzzaman, council member SM Zahir Uddin Haider, Mohammed Jahangir Alam and executive director Mirza Mostafa Walid, among others, were present at the meeting.
