Commerce Secretary Tapan Kanti Ghosh has drawn the attention of the country’s auditors to ensure one financial statement against a company, in order to bring transparency into the financial statements.

Commerce secretary made the call, while addressing as the chief guest a training workshop, styled ‘Finance for Non-Finance Professionals’, in the capital on Wednesday.

The Institute of Chartered Accountants of Bangladesh (ICAB) and the Economic Reporters Forum (ERF) jointly organised the event for business reporters.

Different business houses and corporate firms prepare three to four types of financial reports to take various types of illegal facilities, said Mr Ghosh.

Currently, there is a tendency to submit separate financial reports to the National Board of Revenue (NBR), Bangladesh Bank (BB), and the Bangladesh Securities and Exchange Commission (BSEC) for the convenience of the companies concerned, he added.

Preparing separate financial statements by the companies often causes both over and under valuation of theirs assets, said the commerce secretary.

Besides, such practice also creates problems in collecting revenues, he added.

Mr Ghosh mentioned that the role of auditors was very important in ensuring transparency in the preparation of financial statements of the companies.

“We all have to work together for preparing transparent audit reports,” he added.

ICAB President Mahmudul Hasan Khusru FCA and vice President Sidhartha Barua FCA, Chief Executive Officer Shubhashish Bose, ERF President Sharmin Rinvi and General Secretary SM Rashidul Islam, among others, spoke on the occasion.

Auditors asked to ensure single financial statement of every company

 

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