Sustainability-related disclosure in the public sector should be of high quality and usable for decision making. Importantly, it should be subject to effective audit and assurance arrangements to help build public trust, said experts at an international conference on Thursday
They said “the empirical evidence on sustainability practices is directly linked to the reduction cost of capital, National commitment and development. The government of Bangladesh is committed to achieve SDGs by 2031. So, accountability and transparency in managing risks and investments are the sine quo none for the implementation of SDGs”.
Institute of Chartered Accountants of Bangladesh (ICAB) organized the conference on Accountability & Sustainability: Implementation Progress jointly with Dhaka Stock Exchange Ltd and Victoria University of Wellington, New Zealand at ICAB Auditorium, CA Bhaban, Kawran Bazar in the capital.
Dr. Shamsul Alam, Former Minister of State, Ministry of Planning, GoB, has graced the ceremony as the Chief Guest. Dr. Md. Khairuzzaman Mozumder, Secretary, Finance Division, Ministry of Finance, GoB remained as the Special Guest in the ceremony.
Professor Dr. Hafiz Md. Hasan Babu, Chairman, Dhaka Stock Exchange (DSE) Ltd was present as the Guest of Honour. ICAB President Md. Moniruzaman FCA delivered an address of welcome while ICAB CEO Sshubhashish Bose delivered introductory remarks.
Dr. Yinka Moses, CA, CPA(Aust), Academic Programme Leader, Wellington School of Business and Government, Victoria University of Wellington, New Zealand presented the keynote paper.
Dr. Shamsul Alam said, political accountability plays an important role in economic development. Bangladesh is well ahead of other countries in South Asia like India and Pakistan in achieving the SDGs and ranked 101st of 191 countries. We need to continue the progress and upgrade the rank further, he added.
“We should ensure accountability for sustainable development, the chief guest said adding, chartered accountants play an important role in ensuring accountability in the private sector”, he added.
The Keynote speaker Dr. Yinka Moses in his deliberation said, sustainability reporting can be described as ‘The practice of an organisation reporting on its impact on sustainable development’. It includes not only environmental considerations, but also the social and economic impacts of human activities.
ICAB President Md. Moniruzzaman FCA said, the accountancy profession is best positioned to lead sustainability reporting and assurance. Professionals working in financial accounting, reporting, internal and external audit can all apply their expertise to this agendum, he said.
Dr. Md. Khairuzzaman Mozumder, Secretary, Finance Division, Ministry of Finance said, many organisations are starting sustainability reporting journeys, there is an opportunity for finance, accountancy and audit professionals to demonstrate leadership and drive this agenda forward.