FE REPORT |
September 09, 2021, 9:33 a.m.
Sept. 10, 2021, 5:33 p.m.
Secretary of Commerce Tapan Kanti Ghosh has drawn the attention of the country’s auditors to guarantee a financial statement against a company, in order to bring transparency in the financial statements.
The Commerce Secretary made the appeal, while addressing as the main guest at a training workshop entitled “Finance for non-finance professionals”, in the capital on Wednesday.
The Bangladesh Institute of Chartered Accountants (ICAB) and the Economic Reporters Forum (ERF) jointly organized the event for business journalists.
Different business houses and trading companies prepare three to four types of financial reports to take various types of illegal facilities, Ghosh said.
Currently, there is a tendency to submit separate financial reports to the National Board of Revenue (NBR), Bangladesh Bank (BB) and Bangladesh Securities and Exchange Commission (BSEC) for the convenience of the companies concerned, he said. he adds.
The preparation of separate financial statements by companies often results in both overvaluation and undervaluation of their assets, the secretary of commerce said.
In addition, such a practice also creates revenue collection problems, he added.
Mr. Ghosh mentioned that the role of auditors was very important to ensure transparency in the preparation of companies’ financial statements.
“We must all work together to prepare transparent audit reports,” he added.
ICAB President Mahmudul Hasan Khusru FCA and Vice President Sidhartha Barua FCA, General Manager Shubhashish Bose, ERF President Sharmin Rinvi and General Secretary SM Rashidul Islam, among others, spoke at this opportunity.
ICAB Vice President Maria Howlader FCA, Board Member Md Mahamud Hosain FCA and NKA Mobin FCA, among others, were present at the inaugural event.