Being admitted to Chartered Accountants Worldwide recognises the importance of the qualification in Bangladesh and demonstrates ICAB’s commitment to the highest professional and ethical standards. ICAB is the seventh Chartered Accountancy body to be awarded Associate membership to the organisation since it was launched in February 2013.Īs an Associate Member, ICAB joins a group of globally recognised Chartered Accountancy bodies that are committed to enhancing the value of the Chartered Accountant brand and the profession. The Institute of Chartered Accountants of Bangladesh (ICAB) has become the twelfth member of international body Chartered Accountants Worldwide. He said DVS is well accepted by the regulator and financial institutions, including banks, and corporate houses as the organisations which have access to the DVS server will be able to find out which auditors have signed in and it will enhance the credibility of auditors.The South African Institute of Chartered Accountants (SAICA) welcomes the Institute of Chartered Accountants of Bangladesh (ICAB) as an associate member of Chartered Accountants Worldwide (CAW). The DVS will boost revenue as no firms can make different audit reports anyway. Moniruzzaman said that those who are involved with unethical practices will be removed soon as they introduced a document verification system (DVS). Of them, 17,041 financial reports were verified by 50 professional accountants, which is practically abnormal.” In a notice issued on September 22, the Financial Reporting Council, Bangladesh said, “A total of 41,082 financial reports were verified by 400 professional chartered accountants. Besides, there is allegation that most of the audit reports are verified by several firms. Consequently, Bangladesh has to hire a significant number of CAs from the global market, including India and Sri Lanka. Our training and examinations are well accepted by the Institute of Chartered Accountants in England and Wales,” he added.ĭespite having high demand of CAs in the market, Bangladesh still lags behind many developed countries in producing CAs to cope up with the expansion of the economy.ĭue to several challenges during the learning period and a lack of positive branding and awareness among the candidates, the students don’t want to become CA. “There are high demand for CAs even in the global market as the curriculum is world standard. Humayun Kabir said that the achievements of ICAB are now visible with the progress of the nation. And in 2022, ICAB witnessed a record number of 2,000 articled students. As a result, a growing number of students are now choosing CA as a profession and the number of articled students is gradually increasing along with the pass rate. With the expansion of the economy and boom in the corporate sector, the services of certified chartered accountants (CAs) are now on high demand in Bangladesh. Besides, ICAB has signed MoUs with 13 universities in recent years to give the profession a boost. Currently, there are some 200 CA firms to accelerate financial auditing. Over the last 50 years, ICAB has produced 2,500 chartered accountants (CAs) for Bangladesh. In the last 50 years of its journey, ICAB has made remarkable achievements in developing infrastructure, designing world standard curriculum, making CA education decentralized and setting up different CA firms across the country. Besides, we will focus highly on implementing the code of ethics of International Federation of Accountants (IFAC) strictly and making the curriculum more updated,” he added. “Marking the golden jubilee of ICAB, we will focus on enhancing the capability of firms and making the profession more dignified. “This is why we have to be more realistic and market-oriented to win over the competition.” ICAB executive committee member Md Humayun Kabir said that Bangladesh will graduate from LDC status by 2026 when everything will be more competitive. ICAB will draw up a 50-year action plan to make the CA profession more effective for the economy,” he said. “The CAs have made a significant contribution to the country’s economy with financial reporting and auditing. The country needs skilled manpower to keep pace with the development, he added.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |