ICAB Monthly News Bulletin June 2021 Issue

June 2021 Number 377 icab news bulletin Monthly News Brieﬁng from the Institute of Chartered Accountants of Bangladesh (ICAB)

SME’s Contribution to GDP is Very Low in Comparison to Other Emerging Economies, Needs SMPs’ Support to Revive the Sector Speakers suggest at a Global Webinar

SME’s Contribution to 1 GDP... Revive the Sector Auditing Software 3 Launched:.. audit begins President’s 4 Communication Inauguration of ICAB 7 Digital... Education Minister Some provisions of 8 Companies... Webinar Meeting with NBR 9 Chairman Meeting with CAG 9 Bangladesh Press Conference on 10 National Budget 2021 ICAB Team paid a 12 courtesy... Secretary, GoB Campus News 12 Chartered Accountancy- 13 A Career Choice Training on “Minimum 13 audit... each audit client” Virtual Members’ 14 Conference... forward’ Online Certificate Course 14 ... Audit (IS Audit)-5th Batch n Bangladesh SMEs are considered as situation has aggravated as cash-flow problem, Online Certificate Course 14 on... Based on ISA engine of economic growth that constitutes liquidity crisis, IT skill gap, reduction of Anwaruddin Chowdhury 15 I over 90 percent of business enterprises while production costs, shifting to e-commerce Participates... Meeting it is 97.60 percent in India, 99 percent in China, practices and digitalization of operations have Admission as Fellows 15 99.70 percent in Japan and 60 percent in emerged as new challenges to SME sector. Permission to Continue 15 Pakistan. SME contributes to GDP 20.25 Practice The Institute of Chartered Accountants of percent which is very low in comparison to other Permission to Start 16 Bangladesh (ICAB) organized the Global emerging economies. Bangladesh has 17,384 Practice Webinar on ‘Future ready SMEs and SMPs: micro enterprises, out of which 15,666 is small, Permission to Join as 16 Vital for Sustainable Economy on 27 June Partner 6103 medium and 3639 large scale enterprises. 2021 to mark International SMEs/SMPs day Permission to train 16 Articled Students Speakers also said, in the country SME sector 2021. can not grow substantially because of the lack Change of Firm’s 16 Commerce Minister Tipu Munshi, MP said, Address of fiscal incentives, management problems, during ongoing COVID-19 crisis, Small & Report on Disciplinary 17 access to finance, skilled manpower and policy Medium Practitioners (SMP) can play a great Action inconsistency. In the Covid scenario the MoU signed between 18 ICAB and CA ANZ ISSN 1993-5366 www.icab.org.bd

role in supporting SMEs. As procedures, employment advisor to the SMEs, they regulations etc. provide the link between the Describing the challenges for SME sector and the ecosystem the SMPs in Bangladesh, she that the sector has to navigate. said, to build capacity of SMPs, As the Chief Guest Tipu ICAB has taken initiative to Munshi, MP, Honorable digitalize audit practice, Minister, Ministry of subsidize audit software Commerce, GoB said, ‘I license for all CA Firms, believe SMPs have been able provide training on audit to demonstrate themselves to software at free of costs. their clients as value advisers, and help them to build Describing the transformation businesses that are of SMP’s, another keynote sustainable for the long term’. presenter Christopher Arnold pointed out the importance of In his address of welcome SMP services during and after ICAB President Mahmudul Covid as SMP always focus on Hasan Khusru FCA said, Small advisory role and the growth & Medium Practitioners (SMPs) opportunities of the sector. are providing services for Tipu Munshi, MP, Honorable adjustment to technological Minister, Ministry of advancements and evolving Commerce, GoB grace the needs of their clients with the webinar as the Chief Guest. changing business Maria Howlader FCA, Vice environment President of ICAB and On how small and medium Christopher Arnold, Head of practitioners (SMPs) can SME/SMP and Research, support SMEs, Maria Howlader International Federation of FCA, Vice President-ICAB, one Accountants (IFAC) jointly of the keynote presenters said, presented the keynote paper. many SME industries do not ICAB President Mahmudul know the importance of SMPs Hasan Khusru FCA delivered in their business procedure. address of welcome. ICAB ICAB will take initiatives for CEO Shubhashish Bose collaboration with government, delivered opening remarks SME Foundation, different while Vice President Md. Abdul trade bodies for making the Kader Joaddar FCA made industry aware of the quality closing remarks. AKM Aftabul and diversified services of Islam FCA, Principal Partner, SMPs. Islam Aftab Kamrul & Co, Chartered Accountants Ms. Howlader said, small and moderated the session as medium practitioners can session chairman, provide advisory supports to SME in the fields of tax & VAT As panel speakers Dr. Md. advisory, loan, merger & Masudur Rahman, Chairman, acquisitions, loan Small & Medium Enterprise documentation, restructuring, Foundation; Anwar-ul Alam succession planning, Chowdhury, President, insolvency, liquidation, Bangladesh Chamber of financial planning, modeling, Industries (BCI); and Tina structuring, support on Jabeen, Managing Director & business development and CEO, Startup Bangladesh Human Resources policies and Limited joined the programme. n Bangladesh SMEs are considered as situation has aggravated as cash-flow problem, engine of economic growth that constitutes liquidity crisis, IT skill gap, reduction of over 90 percent of business enterprises while production costs, shifting to e-commerce it is 97.60 percent in India, 99 percent in China, practices and digitalization of operations have 99.70 percent in Japan and 60 percent in emerged as new challenges to SME sector. Pakistan. SME contributes to GDP 20.25 The Institute of Chartered Accountants of percent which is very low in comparison to other Bangladesh (ICAB) organized the Global emerging economies. Bangladesh has 17,384 Webinar on ‘Future ready SMEs and SMPs: micro enterprises, out of which 15,666 is small, Vital for Sustainable Economy on 27 June 6103 medium and 3639 large scale enterprises. 2021 to mark International SMEs/SMPs day Speakers also said, in the country SME sector 2021. can not grow substantially because of the lack Commerce Minister Tipu Munshi, MP said, of fiscal incentives, management problems, during ongoing COVID-19 crisis, Small & access to finance, skilled manpower and policy Medium Practitioners (SMP) can play a great inconsistency. In the Covid scenario the

No. 377 June 2021 icab news bulletin

role in supporting SMEs. As procedures, employment Editorial Note from advisor to the SMEs, they regulations etc. Chairman – Editorial Board provide the link between the Describing the challenges for SME sector and the ecosystem the SMPs in Bangladesh, she that the sector has to navigate. said, to build capacity of SMPs, As the Chief Guest Tipu ICAB has taken initiative to Munshi, MP, Honorable digitalize audit practice, Minister, Ministry of subsidize audit software Commerce, GoB said, ‘I license for all CA Firms, believe SMPs have been able provide training on audit to demonstrate themselves to software at free of costs. their clients as value advisers, and help them to build Describing the transformation businesses that are of SMP’s, another keynote presenter Christopher Arnold Dear Readers, sustainable for the long term’. pointed out the importance of The Month of June 2021 was one of the busiest months of In his address of welcome 2021 for the institute. A number of significant events were SMP services during and after unfolded in this month. ICAB President Mahmudul Covid as SMP always focus on We organized a Global Webinar on ‘Future ready SMEs and Hasan Khusru FCA said, Small advisory role and the growth SMPs: Vital for Sustainable Economy’ on 27 June 2021 & Medium Practitioners (SMPs) opportunities of the sector. where Honorable Minister, Ministry of Commerce, GoB had are providing services for his gracious presence as the Chief Guest. A distinguished Tipu Munshi, MP, Honorable panelist from home and abroad attended the webinar and adjustment to technological Minister, Ministry of gave their valuable suggestions. advancements and evolving Commerce, GoB grace the Auditing Software was launched in this month and ICAB needs of their clients with the organized a virtual inauguration programme of Audit Practice webinar as the Chief Guest. Software in Bangladesh where Mustafa Jabbar, Honorable changing business Maria Howlader FCA, Vice Minister, Posts & Telecommunications Division, GoB graced environment the occasion as the Chief Guest. It will add high value to our President of ICAB and audit works. I must congratulate everyone who successfully On how small and medium Christopher Arnold, Head of materialized it. practitioners (SMPs) can SME/SMP and Research, We organized a webinar on ‘Ease of doing business: perspective of Companies Act’ on 24 June 2021 where support SMEs, Maria Howlader International Federation of Tapan Kanti Ghosh, Secretary, Ministry of Commerce, GoB FCA, Vice President-ICAB, one Accountants (IFAC) jointly was present as the Chief Guest. This was also a time of the keynote presenters said, befitting initiative of ICAB. presented the keynote paper. many SME industries do not We also Inaugurated ICAB Digital Library where Chief guest ICAB President Mahmudul Mohibul Hassan Chowdhoury, MP, Deputy Minister, Ministry know the importance of SMPs Hasan Khusru FCA delivered of Education, GoB attended the programme virtually on 09 in their business procedure. address of welcome. ICAB June 2021. This is also a noteworthy initiative of ICAB and all will be benefitted by this digitalization program. ICAB will take initiatives for CEO Shubhashish Bose This was the month of Budget and like previous years, ICAB collaboration with government, delivered opening remarks organized a Press Conference on National Budget 2021 as SME Foundation, different while Vice President Md. Abdul part of our responsibility to share our views and suggestions. trade bodies for making the I believe that if the policy makers pay attention to our Kader Joaddar FCA made suggestions, the nation will be benefitted.. industry aware of the quality closing remarks. AKM Aftabul A Memorandum of Understanding has been signed on 16 and diversified services of Islam FCA, Principal Partner, June 2021 between ICAB and CA ANZs which was indeed a SMPs. Islam Aftab Kamrul & Co, historical moment for The Institute of Chartered Accountants Chartered Accountants of Bangladesh (ICAB) and Chartered Accountants Australia Ms. Howlader said, small and & New Zealand (CA ANZ). Under this MoU both the Institutes moderated the session as medium practitioners can will recognize their members based on a pathway program session chairman, and practical experience. I am sure our members would be provide advisory supports to immensely benefitted by this pathway programme. SME in the fields of tax & VAT As panel speakers Dr. Md. Finally, a number of meetings were held in this month which advisory, loan, merger & is also a testimony of ICAB’s relentless efforts to have good Masudur Rahman, Chairman, interaction with all stakeholders. acquisitions, loan Small & Medium Enterprise Wishing your good health and safety, documentation, restructuring, Foundation; Anwar-ul Alam With best regards, succession planning, Chowdhury, President, insolvency, liquidation, Bangladesh Chamber of financial planning, modeling, Industries (BCI); and Tina structuring, support on Jabeen, Managing Director & Dr. Md. Abu Sayed Khan FCA business development and CEO, Startup Bangladesh Human Resources policies and Limited joined the programme.

2 n Bangladesh SMEs are considered as situation has aggravated as cash-flow problem, engine of economic growth that constitutes liquidity crisis, IT skill gap, reduction of over 90 percent of business enterprises while production costs, shifting to e-commerce it is 97.60 percent in India, 99 percent in China, practices and digitalization of operations have 99.70 percent in Japan and 60 percent in emerged as new challenges to SME sector. Pakistan. SME contributes to GDP 20.25 The Institute of Chartered Accountants of percent which is very low in comparison to other Bangladesh (ICAB) organized the Global emerging economies. Bangladesh has 17,384 Webinar on ‘Future ready SMEs and SMPs: micro enterprises, out of which 15,666 is small, Vital for Sustainable Economy on 27 June 6103 medium and 3639 large scale enterprises. 2021 to mark International SMEs/SMPs day Speakers also said, in the country SME sector 2021. can not grow substantially because of the lack Commerce Minister Tipu Munshi, MP said, of fiscal incentives, management problems, during ongoing COVID-19 crisis, Small & access to finance, skilled manpower and policy Medium Practitioners (SMP) can play a great inconsistency. In the Covid scenario the

No. 377 icab news bulletin June 2021 role in supporting SMEs. As procedures, employment advisor to the SMEs, they regulations etc. Auditing Software Launched provide the link between the Describing the challenges for SME sector and the ecosystem the SMPs in Bangladesh, she that the sector has to navigate. Regime of paperless audit begins said, to build capacity of SMPs, As the Chief Guest Tipu ICAB has taken initiative to hartered Accountants shall have Munshi, MP, Honorable digitalize audit practice, to move along with Minister, Ministry of subsidize audit software C Commerce, GoB said, ‘I license for all CA Firms, technologies, and must know how to believe SMPs have been able provide training on audit audit in today’s digital environment. to demonstrate themselves to software at free of costs. They need to be properly equipped with their clients as value advisers, different software applications and Describing the transformation and help them to build technologies. Having the right level of of SMP’s, another keynote businesses that are expertise of new technology allows a presenter Christopher Arnold sustainable for the long term’. Chartered Accountants to provide the pointed out the importance of In his address of welcome SMP services during and after highest quality of audit, speakers at ICAB President Mahmudul Covid as SMP always focus on programme on 13 June 2021 said. Hasan Khusru FCA said, Small advisory role and the growth They said, digital adoption will improve & Medium Practitioners (SMPs) opportunities of the sector. the quality of audit and ensure greater are providing services for Tipu Munshi, MP, Honorable transparency, shorter audit cycle times adjustment to technological Minister, Ministry of and reduced errors. advancements and evolving Commerce, GoB grace the needs of their clients with the The CaseWare Working Papers and webinar as the Chief Guest. changing business Audit International Cloud software Maria Howlader FCA, Vice environment supports a range of different audits from President of ICAB and small simple audits to listed company On how small and medium Christopher Arnold, Head of audits in types of audit scenarios. As practitioners (SMPs) can SME/SMP and Research, Software for CA Firms in Bangladesh” the files and software is saved onto local Bangladesh too. There is no doubt that support SMEs, Maria Howlader International Federation of where Mustafa Jabbar, Honorable Digitalizing Audit Practice will ensure the FCA, Vice President-ICAB, one Accountants (IFAC) jointly computer, files can be accessed Minister, Posts & Telecommunications quality of an audit as well as boost up of the keynote presenters said, presented the keynote paper. anywhere. Audit work can be Division, GoB graced the occasion as many SME industries do not ICAB President Mahmudul synchronized back to the server via an the Chief Guest. ICAB President the transparency and trust of clients, he know the importance of SMPs Hasan Khusru FCA delivered internet connection either live or later at Mahmudul Hasan Khusru FCA delivered said and added that 2021 is a year of in their business procedure. address of welcome. ICAB any time. address of welcome and Maria automation for ICAB. All functions of the ICAB will take initiatives for Howlader, Vice President-ICAB and Institute including monitoring audit CEO Shubhashish Bose According to the paper presented in the collaboration with government, delivered opening remarks Chairman of the Project on reports, activities of quality assurance programme, the software would SME Foundation, different while Vice President Md. Abdul “Implementation and dissemination of ultimately help the country's economy board, firm visit etc. are under process of trade bodies for making the Kader Joaddar FCA made Audit Practice Software for CA Firms in grow by boosting the local and foreign automation. industry aware of the quality closing remarks. AKM Aftabul Bangladesh.” presented Introduction of investors' confidence, facilitating Maria Howlader said, this software and diversified services of Islam FCA, Principal Partner, audit software and its importance while regulatory role and enhancing the SMPs. Islam Aftab Kamrul & Co, ICAB CEO Shubhashish Bose spoke on would enhance capacity of ICAB country's auditing standard. In the Chartered Accountants the theme. members in performing audit based on Ms. Howlader said, small and opening phase, 56 auditing firms would moderated the session as international standards on Auditing medium practitioners can session chairman, adopt the software, while the other firms Through zoom application, live session provide advisory supports to (ISA). This software based audit will would be using it gradually in future. on audit practice software: CaseWare SME in the fields of tax & VAT As panel speakers Dr. Md. definitely reduce the hassle of keeping ICAB would encourage all the firms to Working Paper was conducted by Ken advisory, loan, merger & Masudur Rahman, Chairman, records of audit documents reducing the use software-based auditing. Chan, Product Specialist of CaseWare acquisitions, loan Small & Medium Enterprise time of conventional process of audit Asia Pte Ltd. documentation, restructuring, Foundation; Anwar-ul Alam The Institute of Chartered Accountants and thus reduces the cost. succession planning, Chowdhury, President, of Bangladesh (ICAB) organised this ICAB President Mahmudul Hasan Muhammad Farooq, Immediate Past insolvency, liquidation, Bangladesh Chamber of virtual inauguration programme of Audit Khusru said, chartered accounting President-ICAB, Vice President Md. financial planning, modeling, Industries (BCI); and Tina Practice Software in Bangladesh under professionals have globally embraced Abdul Kader Joaddar FCA among structuring, support on Jabeen, Managing Director & a project “Implementation and software for audit practice, the similar business development and CEO, Startup Bangladesh Dissemination of Audit Practice others attended the inaugural development is going to take place in Human Resources policies and Limited joined the programme. programme.

3 No. 377 June 2021 icab news bulletin

Through zoom application live session remarks and ICAB Vice President MoU signed between ICAB and CA on audit practice software: CaseWare Sidhartha Barua FCA delivered closing ANZ; this was indeed a historical event Working Paper was conducted by Ken remarks in the Webinar. I thanked them that the Institute of Chartered Chan, Product Specialist of CaseWare all for their endeavor to make it a Accountants of Bangladesh (ICAB) and Asia Pte Ltd. successful webinar. Chartered Accountants Australia & New Undoubtedly, Digitalizing Audit Practice Inauguration of ICAB Digital Library; I Zealand (CA ANZ) have signed a will ensure the quality and transparency pay a debt of gratitude to Chief Guest Memorandum of Understanding (MoU) of audit and earned confidence of Mohibul Hassan Chowdhoury, MP, on 16 June 2021. The ceremony was clients. This is truly a remarkable event Deputy Minister, Ministry of Education, held virtually. Under this MoU both the President’s for us as the regime of paperless audit GoB who attended the inaugural Institutes will recognize their members begins. programme of ‘Digital Library and based on pathway program; and Automation of Library Management practical experience. Communication Muhammad Farooq, Immediate Past System’ organized by ICAB on 09 June President-ICAB, Vice President Md. The MoU was signed by me and CA 2021 digitally. Abdul Kader Joaddar FCA among ANZ CEO Ainslie van Onselen from others also attended the inaugural I delivered address of welcome. Abdul respective sides. programme. I express my heartfelt kader Joaddar FCA, Vice President thanks to those who all have put their -ICAB delivered a brief note on the This MoU stipulated that ICAB members efforts to make this happen. automation activities of ICAB. ICAB living in Australia or New Zealand having Chief Executive Officer Shubhashish five years post qualification experience ICAB organized the webinar on ‘Ease Bose delivered introductory remarks at anywhere will be eligible to be of doing business: perspective of Dear Fellow Members and Colleagues Bose delivered opening remarks while Vice while Vice President Sidhartha Barua member of CA CANZ after successful Companies Act’ on 24 June 2021 President Md. Abdul Kader Joaddar FCA FCA delivered the closing remarks. completion of CA ANZ International Assalamu Alaikum and Greetings to you all, where Tapan Kanti Ghosh, Secretary, made closing remarks. AKM Aftabul Islam Pathway Program (IPP). Ministry of Commerce, GoB was present ICAB installed Integrated Library At the very outset, I pray to Almighty Allah for FCA, Principal Partner, Islam Aftab Kamrul & as the Chief Guest. As Panel Speakers Management software ‘koha’ to The words of President-CAANZ Dr. everyone’s good health and mental well Co, Chartered Accountants moderated the AHM Ahsan, Registrar (In charge), automate the typical procedure of the Nivos Botica Rodmayno “CA beings. Despite the constraints caused by session as session chairman, Office of the Registrar of Joint Stock Library such as acquisition, cataloguing, COVID -19, the month of June was one of the professionals are difference makers” As group of distinguished panel speakers Companies & Firms (RJSC&F), Jibon circulation, serial control and reporting successful months as we succeeded in was truly inspiring and we echo with her namely Dr. Md. Masudur Rahman, Chairman, Krishna Saha Roy, Director, Bangladesh and also Online Public Access materialising a number of significant events that we shall be able to make a Small & Medium Enterprise Foundation; Investment Development Catalogue (OPAC) for users. during that time. difference in terms of education, sharing Anwar-ul Alam Chowdhury, President, Authority(BIDA), Barrister Nihad Kabir, Additionally, ICAB launched Library learning and members’ benefits in With that let me now update you with the Bangladesh Chamber of Industries (BCI); and President, MCCI, Dr. M. Masrur Reaz, Website to make available all the future. activities of the Institute during June 2021. Tina Jabeen, Managing Director & CEO, Chairman of Policy Exchange of information created by Drupal, a website Startup Bangladesh Limited joined the Bangladesh and Mohammad Enamul maintenance and content creation ICAB Vice President Md. Abdul Kader ICAB organized a Global Webinar on programme and shared their views. Huque, Managing Director & Head of Software. Joaddar FCA, Council Member & Past ‘Future ready SMEs and SMPs: Vital for Corporate, Commercial and Institutional President Nasir Uddin Ahmed FCA, Sustainable Economy’ on 27 June 2021 to Auditing Software Launched; ICAB Press Conference on National Budget Banking, Standard Chartered Bank, Council Member Sabbir Ahmed FCA, mark International SMEs/SMPs day 2021. organised a virtual inauguration programme 2021; as part of our noble responsibility to attended the programme. Md. Humayun CEO Shubhashish Bose, CA ANZ CEO Speakers observed that the SME’s of Audit Practice Software in Bangladesh disseminate our expert opinion, this year Kabir FCA, Council Member and Past Ainslie van Onselen and Manager Contribution to GDP is Very Low in under a project "Implementation and also we held a Press Conference on President, ICAB moderated the Comparison to Other Emerging Economies Dissemination of Audit Practice Software for National Budget 2021 on 5 June 2021 International Liaison, International programme. Experts pointed out to a and stressed the needs of SMPs' Support for CA Firms in Bangladesh" where Mustafa through Zoom platform. I delivered Development Navini Peiris CA, ICAB number of provisions of companies act the Revival of the Sector. Jabbar, Honorable Minister, Posts & address of welcome; Md. Shahadat Asia Pacific Chapter Chairman which still needs to sort out for improving Telecommunications Division, GoB graced Hossain FCA, Council Member-ICAB and Hamiduddin Ahmed FCA and Secretary Mr. Tipu Munshi, MP, Honorable Minister, ease of doing business for our country. the occasion as the Chief Guest. Address of Abu Haider Mohammed Kibria FCA Ministry of Commerce, GoB kindly grace the Snehasish Barua FCA jointly delivered welcome was delivered by me and Maria spoke in the occasion. webinar as the Chief Guest. Ms. Maria Snehasish Barua FCA, Partner, the conference paper while Md. Humayun Howlader, Vice President- ICAB and Snehasish Mahmud & Co., Chartered Kabir FCA moderated the programme. A Howlader FCA, Vice President of ICAB and Mentioned that CA ANZ operates in six Chairman of the Project on " Implementation Accountants and Mr. Tanjib-ul Alam, good number of observations came up at Christopher Arnold, Head of SME/SMP and jurisdictions namely Australia, New and dissemination of Audit Practice Software Barrister-at-Law (Lincoln’s Inn), the press conference and was covered by Research, International Federation of Zealand, Hong Kong, Singapore, for CA Firms in Bangladesh." presented about Advocate, Appellate Division, Supreme electronic and printing media with due Accountants (IFAC) jointly presented the Malaysia and the United Kingdom and the details on the introduction of audit keynote paper. Address of welcome was Court of Bangladesh jointly presented importance. The salient features of the software and its importance while ICAB CEO has more than 128,000 members delivered by me. ICAB CEO Shubhashish the keynote paper. ICAB CEO Press Conference are covered in this Shubhashish FCA spoke on the theme. Shubhashish Bose made introductory News bulletin globally.

Through zoom application live session remarks and ICAB Vice President MoU signed between ICAB and CA on audit practice software: CaseWare Sidhartha Barua FCA delivered closing ANZ; this was indeed a historical event Working Paper was conducted by Ken remarks in the Webinar. I thanked them that the Institute of Chartered Chan, Product Specialist of CaseWare all for their endeavor to make it a Accountants of Bangladesh (ICAB) and Asia Pte Ltd. successful webinar. Chartered Accountants Australia & New Undoubtedly, Digitalizing Audit Practice Inauguration of ICAB Digital Library; I Zealand (CA ANZ) have signed a will ensure the quality and transparency pay a debt of gratitude to Chief Guest Memorandum of Understanding (MoU) of audit and earned confidence of Mohibul Hassan Chowdhoury, MP, on 16 June 2021. The ceremony was clients. This is truly a remarkable event Deputy Minister, Ministry of Education, held virtually. Under this MoU both the for us as the regime of paperless audit GoB who attended the inaugural Institutes will recognize their members begins. programme of ‘Digital Library and based on pathway program; and Automation of Library Management practical experience. Muhammad Farooq, Immediate Past System’ organized by ICAB on 09 June President-ICAB, Vice President Md. The MoU was signed by me and CA 2021 digitally. Abdul Kader Joaddar FCA among ANZ CEO Ainslie van Onselen from others also attended the inaugural I delivered address of welcome. Abdul respective sides. programme. I express my heartfelt kader Joaddar FCA, Vice President thanks to those who all have put their -ICAB delivered a brief note on the This MoU stipulated that ICAB members efforts to make this happen. automation activities of ICAB. ICAB living in Australia or New Zealand having Chief Executive Officer Shubhashish five years post qualification experience ICAB organized the webinar on ‘Ease Bose delivered introductory remarks at anywhere will be eligible to be of doing business: perspective of Dear Fellow Members and Colleagues Bose delivered opening remarks while Vice while Vice President Sidhartha Barua member of CA CANZ after successful Companies Act’ on 24 June 2021 President Md. Abdul Kader Joaddar FCA FCA delivered the closing remarks. completion of CA ANZ International Assalamu Alaikum and Greetings to you all, where Tapan Kanti Ghosh, Secretary, made closing remarks. AKM Aftabul Islam Pathway Program (IPP). Ministry of Commerce, GoB was present ICAB installed Integrated Library At the very outset, I pray to Almighty Allah for FCA, Principal Partner, Islam Aftab Kamrul & as the Chief Guest. As Panel Speakers Management software ‘koha’ to The words of President-CAANZ Dr. everyone’s good health and mental well Co, Chartered Accountants moderated the AHM Ahsan, Registrar (In charge), automate the typical procedure of the Nivos Botica Rodmayno “CA beings. Despite the constraints caused by session as session chairman, Office of the Registrar of Joint Stock Library such as acquisition, cataloguing, COVID -19, the month of June was one of the professionals are difference makers” As group of distinguished panel speakers Companies & Firms (RJSC&F), Jibon circulation, serial control and reporting successful months as we succeeded in was truly inspiring and we echo with her namely Dr. Md. Masudur Rahman, Chairman, Krishna Saha Roy, Director, Bangladesh and also Online Public Access materialising a number of significant events that we shall be able to make a Small & Medium Enterprise Foundation; Investment Development Catalogue (OPAC) for users. during that time. difference in terms of education, sharing Anwar-ul Alam Chowdhury, President, Authority(BIDA), Barrister Nihad Kabir, Additionally, ICAB launched Library learning and members’ benefits in With that let me now update you with the Bangladesh Chamber of Industries (BCI); and President, MCCI, Dr. M. Masrur Reaz, Website to make available all the future. activities of the Institute during June 2021. Tina Jabeen, Managing Director & CEO, Chairman of Policy Exchange of information created by Drupal, a website Startup Bangladesh Limited joined the Bangladesh and Mohammad Enamul maintenance and content creation ICAB Vice President Md. Abdul Kader ICAB organized a Global Webinar on programme and shared their views. Huque, Managing Director & Head of Software. Joaddar FCA, Council Member & Past ‘Future ready SMEs and SMPs: Vital for Corporate, Commercial and Institutional President Nasir Uddin Ahmed FCA, Sustainable Economy’ on 27 June 2021 to Auditing Software Launched; ICAB Press Conference on National Budget Banking, Standard Chartered Bank, Council Member Sabbir Ahmed FCA, mark International SMEs/SMPs day 2021. organised a virtual inauguration programme 2021; as part of our noble responsibility to attended the programme. Md. Humayun CEO Shubhashish Bose, CA ANZ CEO Speakers observed that the SME’s of Audit Practice Software in Bangladesh disseminate our expert opinion, this year Kabir FCA, Council Member and Past Ainslie van Onselen and Manager Contribution to GDP is Very Low in under a project "Implementation and also we held a Press Conference on President, ICAB moderated the Comparison to Other Emerging Economies Dissemination of Audit Practice Software for National Budget 2021 on 5 June 2021 International Liaison, International programme. Experts pointed out to a and stressed the needs of SMPs' Support for CA Firms in Bangladesh" where Mustafa through Zoom platform. I delivered Development Navini Peiris CA, ICAB number of provisions of companies act the Revival of the Sector. Jabbar, Honorable Minister, Posts & address of welcome; Md. Shahadat Asia Pacific Chapter Chairman which still needs to sort out for improving Telecommunications Division, GoB graced Hossain FCA, Council Member-ICAB and Hamiduddin Ahmed FCA and Secretary Mr. Tipu Munshi, MP, Honorable Minister, ease of doing business for our country. the occasion as the Chief Guest. Address of Abu Haider Mohammed Kibria FCA Ministry of Commerce, GoB kindly grace the Snehasish Barua FCA jointly delivered welcome was delivered by me and Maria spoke in the occasion. webinar as the Chief Guest. Ms. Maria Snehasish Barua FCA, Partner, the conference paper while Md. Humayun Howlader, Vice President- ICAB and Snehasish Mahmud & Co., Chartered Kabir FCA moderated the programme. A Howlader FCA, Vice President of ICAB and Mentioned that CA ANZ operates in six Chairman of the Project on " Implementation Accountants and Mr. Tanjib-ul Alam, good number of observations came up at Christopher Arnold, Head of SME/SMP and jurisdictions namely Australia, New and dissemination of Audit Practice Software Barrister-at-Law (Lincoln’s Inn), the press conference and was covered by Research, International Federation of Zealand, Hong Kong, Singapore, for CA Firms in Bangladesh." presented about Advocate, Appellate Division, Supreme electronic and printing media with due Accountants (IFAC) jointly presented the Malaysia and the United Kingdom and the details on the introduction of audit keynote paper. Address of welcome was Court of Bangladesh jointly presented importance. The salient features of the software and its importance while ICAB CEO has more than 128,000 members delivered by me. ICAB CEO Shubhashish the keynote paper. ICAB CEO Press Conference are covered in this Shubhashish FCA spoke on the theme. Shubhashish Bose made introductory News bulletin globally.

We have introduced a unique Standards on Auditing (ISA) with a Comptroller and Auditor General (CAG) programme titled Chartered view to enhancing the competence of Mohammad Muslim Chowdhury on 17 Accountancy-A Career Choice. Under professionals in auditing. The training June, 2021 at the Audit Bhaban. Season-1, Episode -1, on 3 June 2021, started from 20 June 2021 for Other members of the delegation were virtually we held the programme where consecutive 5 weeks. ICAB Vice President Maria Howlader Uuniversity teachers, students and ICAB Practicing Members of ICAB, FCA, Immediate Past President members of ICAB participated. They Students of professional accounting and Muhammad Farooq FCA, Council exchanged views on the CA profession finance and Internal auditors and Member Md. Moniruzzaman FCA and and why it should matter to the students. members of those charged with CEO Shubhashish Bose. Deputy Amirus Salat , Associate Professor, AIS, governance of an organization Comptroller and Auditor General University of Dhaka and Rabita Sabah, participated in the training. (Accounts and Reports) Md. Rafiqul Assistant Professor, AIS, Jaggannath Islam was also present. We also We organised Training on ‘minimum University participated in the program discussed a number mutually beneficial audit documentation for each audit and shared their views. issues. client’ virtually for practicing members of In this episode, the guest participant was ICAB and authorized representatives ICAB Team paid a courtesy call on Md. Mustaq Ahmed FCA, Senior from CA firms. The training program newly appointed Commerce Manager, Banglalink Digital started from 21 June 2021 and closed on Secretary, GoB; Communication Ltd. Students from 1 July 2021. This training focused on how A delegation of ICAB led by me paid a Dhaka University Business Faculty, to prepare and keep minimum audit courtesy call on Tapan Kanti Ghosh on North South University and Bangladesh documents for audit engagements. More his taking over as the Secretary of the University of Professionals also took specifically, the training prescribed the Ministry of Commerce, GoB. The part in the discussion. Md Nazib Ullah minimum documents in Audit Permanent meeting was held on 7 June, 2021 at the ACA moderated the session File, development of Audit Plan, etc. Secretary's office. Chartered Accountancy-A Career We thank all the resource persons and Other members of the delegation were Choice - Season-1, Episode -2, was all those who successfully conducted ICAB Vice President Maria Howlader also held on 17 June 2021 and the the training programme despite FCA, Council Member Md. guest participants were Abdullah Al constraints. Moniruzzaman FCA and CEO Mamun FCA, Sujan Kumar Saha FCA A number of Meetings further added the Shubhashish Bose. During the meeting, and Md. Maruf Hasan ACA. Md Nazib month of June an eventful one. Ullah ACA moderated the session. we congratulated Tapan Kanti Ghosh on Address of welcome was delivered by Meeting with NBR Chairman; A assuming the charge of Commerce me while Vice President Md. Abdul delegation of ICAB led by me met Abu Secretary and sought his cooperation in Kader Joaddar FCA gave closing Hena Md Rahmatul Muneem, Chairman the activities of the institute. The remarks. National Board of Revenue (NBR) and Secretary assured of his full cooperation Senior Secretary of Internal Resource from the ministry to the Institute in A number of training programme was Division of Ministry of Finance, GoB on coming days. also delivered on line through virtual 17 June 2021 at NBR Boardroom. platform To conclude, our heart goes out to the Other members of the delegation were bereaved families who have lost their We organised Online Certificate Course ICAB Vice President Maria Howlader dear ones in this month. We all pray for on ‘Information Systems Audit (IS FCA, Council Member Md. the salvation of the departed souls. Audit-5th batch)’ for the professionals in Moniruzzaman FCA, Mohammed business, IT, finance, Banking Sectors, No more today Forkan Uddin FCA and CEO accounts and compliance, Regulators, Shubhashish Bose. NBR Member (Tax May the Almighty help us sail through Internal Auditors & External Auditors Policy) Md. Alamgir Hossain and this challenging time. and Individuals intending to become Director of Central Intelligence Cell Information Systems Auditor and (CIC) Shabbir Ahmed were also Assurer. The program started from 5 present. We discussed a number June 2021 for 3 Months. mutually beneficial issues. Mahmudul Hasan Khusru FCA We also organized a comprehensive President, ICAB Meeting with CAG Bangladesh; A online certificate course on Audit delegation of ICAB led by me met Methodology based on International Through zoom application live session remarks and ICAB Vice President MoU signed between ICAB and CA on audit practice software: CaseWare Sidhartha Barua FCA delivered closing ANZ; this was indeed a historical event Working Paper was conducted by Ken remarks in the Webinar. I thanked them that the Institute of Chartered Chan, Product Specialist of CaseWare all for their endeavor to make it a Accountants of Bangladesh (ICAB) and Asia Pte Ltd. successful webinar. Chartered Accountants Australia & New Undoubtedly, Digitalizing Audit Practice Inauguration of ICAB Digital Library; I Zealand (CA ANZ) have signed a will ensure the quality and transparency pay a debt of gratitude to Chief Guest Memorandum of Understanding (MoU) of audit and earned confidence of Mohibul Hassan Chowdhoury, MP, on 16 June 2021. The ceremony was clients. This is truly a remarkable event Deputy Minister, Ministry of Education, held virtually. Under this MoU both the for us as the regime of paperless audit GoB who attended the inaugural Institutes will recognize their members begins. programme of ‘Digital Library and based on pathway program; and Automation of Library Management practical experience. Muhammad Farooq, Immediate Past System’ organized by ICAB on 09 June President-ICAB, Vice President Md. The MoU was signed by me and CA 2021 digitally. Abdul Kader Joaddar FCA among ANZ CEO Ainslie van Onselen from others also attended the inaugural I delivered address of welcome. Abdul respective sides. programme. I express my heartfelt kader Joaddar FCA, Vice President thanks to those who all have put their -ICAB delivered a brief note on the This MoU stipulated that ICAB members efforts to make this happen. automation activities of ICAB. ICAB living in Australia or New Zealand having Chief Executive Officer Shubhashish five years post qualification experience ICAB organized the webinar on ‘Ease Bose delivered introductory remarks at anywhere will be eligible to be of doing business: perspective of Dear Fellow Members and Colleagues Bose delivered opening remarks while Vice while Vice President Sidhartha Barua member of CA CANZ after successful Companies Act’ on 24 June 2021 President Md. Abdul Kader Joaddar FCA FCA delivered the closing remarks. completion of CA ANZ International Assalamu Alaikum and Greetings to you all, where Tapan Kanti Ghosh, Secretary, made closing remarks. AKM Aftabul Islam Pathway Program (IPP). Ministry of Commerce, GoB was present ICAB installed Integrated Library At the very outset, I pray to Almighty Allah for FCA, Principal Partner, Islam Aftab Kamrul & as the Chief Guest. As Panel Speakers Management software ‘koha’ to The words of President-CAANZ Dr. everyone’s good health and mental well Co, Chartered Accountants moderated the AHM Ahsan, Registrar (In charge), automate the typical procedure of the Nivos Botica Rodmayno “CA beings. Despite the constraints caused by session as session chairman, Office of the Registrar of Joint Stock Library such as acquisition, cataloguing, COVID -19, the month of June was one of the professionals are difference makers” As group of distinguished panel speakers Companies & Firms (RJSC&F), Jibon circulation, serial control and reporting successful months as we succeeded in was truly inspiring and we echo with her namely Dr. Md. Masudur Rahman, Chairman, Krishna Saha Roy, Director, Bangladesh and also Online Public Access materialising a number of significant events that we shall be able to make a Small & Medium Enterprise Foundation; Investment Development Catalogue (OPAC) for users. during that time. difference in terms of education, sharing Anwar-ul Alam Chowdhury, President, Authority(BIDA), Barrister Nihad Kabir, Additionally, ICAB launched Library learning and members’ benefits in With that let me now update you with the Bangladesh Chamber of Industries (BCI); and President, MCCI, Dr. M. Masrur Reaz, Website to make available all the future. activities of the Institute during June 2021. Tina Jabeen, Managing Director & CEO, Chairman of Policy Exchange of information created by Drupal, a website Startup Bangladesh Limited joined the Bangladesh and Mohammad Enamul maintenance and content creation ICAB Vice President Md. Abdul Kader ICAB organized a Global Webinar on programme and shared their views. Huque, Managing Director & Head of Software. Joaddar FCA, Council Member & Past ‘Future ready SMEs and SMPs: Vital for Corporate, Commercial and Institutional President Nasir Uddin Ahmed FCA, Sustainable Economy’ on 27 June 2021 to Auditing Software Launched; ICAB Press Conference on National Budget Banking, Standard Chartered Bank, Council Member Sabbir Ahmed FCA, mark International SMEs/SMPs day 2021. organised a virtual inauguration programme 2021; as part of our noble responsibility to attended the programme. Md. Humayun CEO Shubhashish Bose, CA ANZ CEO Speakers observed that the SME’s of Audit Practice Software in Bangladesh disseminate our expert opinion, this year Kabir FCA, Council Member and Past Ainslie van Onselen and Manager Contribution to GDP is Very Low in under a project "Implementation and also we held a Press Conference on President, ICAB moderated the Comparison to Other Emerging Economies Dissemination of Audit Practice Software for National Budget 2021 on 5 June 2021 International Liaison, International programme. Experts pointed out to a and stressed the needs of SMPs' Support for CA Firms in Bangladesh" where Mustafa through Zoom platform. I delivered Development Navini Peiris CA, ICAB number of provisions of companies act the Revival of the Sector. Jabbar, Honorable Minister, Posts & address of welcome; Md. Shahadat Asia Pacific Chapter Chairman which still needs to sort out for improving Telecommunications Division, GoB graced Hossain FCA, Council Member-ICAB and Hamiduddin Ahmed FCA and Secretary Mr. Tipu Munshi, MP, Honorable Minister, ease of doing business for our country. the occasion as the Chief Guest. Address of Abu Haider Mohammed Kibria FCA Ministry of Commerce, GoB kindly grace the Snehasish Barua FCA jointly delivered welcome was delivered by me and Maria spoke in the occasion. webinar as the Chief Guest. Ms. Maria Snehasish Barua FCA, Partner, the conference paper while Md. Humayun Howlader, Vice President- ICAB and Snehasish Mahmud & Co., Chartered Kabir FCA moderated the programme. A Howlader FCA, Vice President of ICAB and Mentioned that CA ANZ operates in six Chairman of the Project on " Implementation Accountants and Mr. Tanjib-ul Alam, good number of observations came up at Christopher Arnold, Head of SME/SMP and jurisdictions namely Australia, New and dissemination of Audit Practice Software Barrister-at-Law (Lincoln’s Inn), the press conference and was covered by Research, International Federation of Zealand, Hong Kong, Singapore, for CA Firms in Bangladesh." presented about Advocate, Appellate Division, Supreme electronic and printing media with due Accountants (IFAC) jointly presented the Malaysia and the United Kingdom and the details on the introduction of audit keynote paper. Address of welcome was Court of Bangladesh jointly presented importance. The salient features of the software and its importance while ICAB CEO has more than 128,000 members delivered by me. ICAB CEO Shubhashish the keynote paper. ICAB CEO Press Conference are covered in this Shubhashish FCA spoke on the theme. Shubhashish Bose made introductory News bulletin globally.

No. 377 June 2021 icab news bulletin

6 Through zoom application live session remarks and ICAB Vice President MoU signed between ICAB and CA on audit practice software: CaseWare Sidhartha Barua FCA delivered closing ANZ; this was indeed a historical event Working Paper was conducted by Ken remarks in the Webinar. I thanked them that the Institute of Chartered Chan, Product Specialist of CaseWare all for their endeavor to make it a Accountants of Bangladesh (ICAB) and Asia Pte Ltd. successful webinar. Chartered Accountants Australia & New Undoubtedly, Digitalizing Audit Practice Inauguration of ICAB Digital Library; I Zealand (CA ANZ) have signed a will ensure the quality and transparency pay a debt of gratitude to Chief Guest Memorandum of Understanding (MoU) of audit and earned confidence of Mohibul Hassan Chowdhoury, MP, on 16 June 2021. The ceremony was clients. This is truly a remarkable event Deputy Minister, Ministry of Education, held virtually. Under this MoU both the for us as the regime of paperless audit GoB who attended the inaugural Institutes will recognize their members begins. programme of ‘Digital Library and based on pathway program; and Automation of Library Management practical experience. Muhammad Farooq, Immediate Past System’ organized by ICAB on 09 June President-ICAB, Vice President Md. The MoU was signed by me and CA 2021 digitally. Abdul Kader Joaddar FCA among ANZ CEO Ainslie van Onselen from others also attended the inaugural I delivered address of welcome. Abdul respective sides. programme. I express my heartfelt kader Joaddar FCA, Vice President thanks to those who all have put their -ICAB delivered a brief note on the This MoU stipulated that ICAB members efforts to make this happen. automation activities of ICAB. ICAB living in Australia or New Zealand having Chief Executive Officer Shubhashish five years post qualification experience ICAB organized the webinar on ‘Ease Bose delivered introductory remarks at anywhere will be eligible to be of doing business: perspective of Dear Fellow Members and Colleagues Bose delivered opening remarks while Vice while Vice President Sidhartha Barua member of CA CANZ after successful Companies Act’ on 24 June 2021 President Md. Abdul Kader Joaddar FCA FCA delivered the closing remarks. completion of CA ANZ International Assalamu Alaikum and Greetings to you all, where Tapan Kanti Ghosh, Secretary, made closing remarks. AKM Aftabul Islam Pathway Program (IPP). Ministry of Commerce, GoB was present ICAB installed Integrated Library At the very outset, I pray to Almighty Allah for FCA, Principal Partner, Islam Aftab Kamrul & as the Chief Guest. As Panel Speakers Management software ‘koha’ to The words of President-CAANZ Dr. everyone’s good health and mental well Co, Chartered Accountants moderated the AHM Ahsan, Registrar (In charge), automate the typical procedure of the Nivos Botica Rodmayno “CA beings. Despite the constraints caused by session as session chairman, Office of the Registrar of Joint Stock Library such as acquisition, cataloguing, COVID -19, the month of June was one of the professionals are difference makers” As group of distinguished panel speakers Companies & Firms (RJSC&F), Jibon circulation, serial control and reporting successful months as we succeeded in was truly inspiring and we echo with her namely Dr. Md. Masudur Rahman, Chairman, Krishna Saha Roy, Director, Bangladesh and also Online Public Access materialising a number of significant events that we shall be able to make a Small & Medium Enterprise Foundation; Investment Development Catalogue (OPAC) for users. during that time. difference in terms of education, sharing Anwar-ul Alam Chowdhury, President, Authority(BIDA), Barrister Nihad Kabir, Additionally, ICAB launched Library learning and members’ benefits in With that let me now update you with the Bangladesh Chamber of Industries (BCI); and President, MCCI, Dr. M. Masrur Reaz, Website to make available all the future. activities of the Institute during June 2021. Tina Jabeen, Managing Director & CEO, Chairman of Policy Exchange of information created by Drupal, a website Startup Bangladesh Limited joined the Bangladesh and Mohammad Enamul maintenance and content creation ICAB Vice President Md. Abdul Kader ICAB organized a Global Webinar on programme and shared their views. Huque, Managing Director & Head of Software. Joaddar FCA, Council Member & Past ‘Future ready SMEs and SMPs: Vital for Corporate, Commercial and Institutional President Nasir Uddin Ahmed FCA, Sustainable Economy’ on 27 June 2021 to Auditing Software Launched; ICAB Press Conference on National Budget Banking, Standard Chartered Bank, Council Member Sabbir Ahmed FCA, mark International SMEs/SMPs day 2021. organised a virtual inauguration programme 2021; as part of our noble responsibility to attended the programme. Md. Humayun CEO Shubhashish Bose, CA ANZ CEO Speakers observed that the SME’s of Audit Practice Software in Bangladesh disseminate our expert opinion, this year Kabir FCA, Council Member and Past Ainslie van Onselen and Manager Contribution to GDP is Very Low in under a project "Implementation and also we held a Press Conference on President, ICAB moderated the Comparison to Other Emerging Economies Dissemination of Audit Practice Software for National Budget 2021 on 5 June 2021 International Liaison, International programme. Experts pointed out to a and stressed the needs of SMPs' Support for CA Firms in Bangladesh" where Mustafa through Zoom platform. I delivered Development Navini Peiris CA, ICAB number of provisions of companies act the Revival of the Sector. Jabbar, Honorable Minister, Posts & address of welcome; Md. Shahadat Asia Pacific Chapter Chairman which still needs to sort out for improving Telecommunications Division, GoB graced Hossain FCA, Council Member-ICAB and Hamiduddin Ahmed FCA and Secretary Mr. Tipu Munshi, MP, Honorable Minister, ease of doing business for our country. the occasion as the Chief Guest. Address of Abu Haider Mohammed Kibria FCA Ministry of Commerce, GoB kindly grace the Snehasish Barua FCA jointly delivered welcome was delivered by me and Maria spoke in the occasion. webinar as the Chief Guest. Ms. Maria Snehasish Barua FCA, Partner, the conference paper while Md. Humayun Howlader, Vice President- ICAB and Snehasish Mahmud & Co., Chartered Kabir FCA moderated the programme. A Howlader FCA, Vice President of ICAB and Mentioned that CA ANZ operates in six Chairman of the Project on " Implementation Accountants and Mr. Tanjib-ul Alam, good number of observations came up at Christopher Arnold, Head of SME/SMP and jurisdictions namely Australia, New and dissemination of Audit Practice Software Barrister-at-Law (Lincoln’s Inn), the press conference and was covered by Research, International Federation of Zealand, Hong Kong, Singapore, for CA Firms in Bangladesh." presented about Advocate, Appellate Division, Supreme electronic and printing media with due Accountants (IFAC) jointly presented the Malaysia and the United Kingdom and the details on the introduction of audit keynote paper. Address of welcome was Court of Bangladesh jointly presented importance. The salient features of the software and its importance while ICAB CEO has more than 128,000 members delivered by me. ICAB CEO Shubhashish the keynote paper. ICAB CEO Press Conference are covered in this Shubhashish FCA spoke on the theme. Shubhashish Bose made introductory News bulletin globally.

No. 377 icab news bulletin June 2021

7 No. 377 June 2021 icab news bulletin

documents. Similar practice is adopted in information is being held with RJSC and it the sectors of paying tax, enforcing Some provisions of Companies Act still required to Singapore and Hong Kong, they could improve the corporate governance contract and resolving insolvency etc. observed. in the country. fine tune for improving ease of doing business, Out of 10 sectors of global ranking, They also said, all private limited In ease of doing business global ranking, Bangladesh has improved in five sectors say Experts at ICAB Webinar company with turnover of more than 100 Bangladesh has slightly improved from which pulled the country 8 notch up of the Crore need to issue a report by the 177 to 168 in 2020, has advanced in ranking in 2019. Experts attributed for xperts at a webinar on 24 June directors and it also needs to be reviewed starting a business, dealing with such improvement to government’s 2021 came up with a number of by Auditor under ISA. This director’s construction, getting power connection, initiatives through amendments of E observations and report along with the audited Financial registration properties, getting credit, companies act in 2020, with regards to recommendations on companies act for Statement containing comment must be protecting minority investors, though the companies common seals and improving the performance of Bangladesh submitted to RJSC so that more county could not make much progress in one-person company (OPC). in ease of doing business global ranking.

They said, although in 2020 amendments have been made in the companies act 1994, some provisions of the act are still required to fine tune with the best practices like Singapore and Hong Kong, the countries ranking 2 and 3 positions respectively in the ease of doing business global ranking race in 2020.

They said, companies should prepare their Financial Statements under the (RJSC), Jibon Krishna Saha Roy, Barrister-at-Law (Lincoln’s Inn), Advocate, provision of Financial Reporting Council Director, Bangladesh Investment Appellate Division, Supreme Court of (FRC) at par with international financial Development Authority(BIDA), Barrister Bangladesh jointly presented the keynote reporting standards (IFRS) and the audit Nihad Kabir, President, MCCI, Dr. M. paper. ICAB CEO Shubhashish Bose should be carried out as per International Masrur Reaz, Chairman of Policy made introductory remarks and ICAB Standards on Auditing (ISA) as approved Exchange of Bangladesh and Vice President Sidhartha Barua FCA by FRC because international & local Mohammad Enamul Huque, Managing delivered closing remarks in the Webinar. investors need to comply with IFRS and Director & Head of Corporate, Amendments brought in companies act in ISA. Commercial and Institutional Banking, 2020 allows foreign company to open a Standard Chartered Bank, joined the For ensuring the compliance, the auditors private limited company in Bangladesh programme. Md. Humayun Kabir FCA, should be paid as per prescribed having 100% ownership. It gives them Council Member and Past President, minimum audit fees, they said. They also opportunity to open a company in a short ICAB moderated the programme. stressed the need to digitize all functions time. Similar practice is adopted in Hong of RJSC. ICAB President Mahmudul Hasan Khusru Kong. Before 2020, in Bangladesh FCA in his address of welcome said, it is minimum two persons were required to Speakers forwarded some observations necessary to simplify & modernize the open a company whereas under this new and recommendations on the companies corporate laws to ensure a amendments, foreign company can also act 1994 which could contribute a lot to business-friendly atmosphere. Although open a PLC or OPC. elevate the country in ease of doing amendment to the Companies Act, 1994 business global ranking and boosting up Merger & acquisition of companies should is done; it didn't come upto our both foreign and local investment. be bought in two ways -merger by expectation. adoption and merger by formation in line The Institute of Chartered Accountants of Government should remove various with the practice adopted in India & UK. Bangladesh (ICAB) organized the webinar impediments on improving business However, no such provisions allowed in on ease of doing business: perspective of environment and a balance company act our companies act 1994, they pointed out companies act on 24 June 2021 where would encourage both local and foreign and added that it needs to be addressed. Tapan Kanti Ghosh, Secretary, Ministry of investors to make more investment in the Commerce, GoB was present as the Chief Under the new amendments any foreign country, he further said. Guest. PLC or OPC must appoint a professional Snehasish Barua FCA, Partner, in practice as company secretary As Panel Speakers AHM Ahsan, In Snehasish Mahmud & Co., Chartered (external or internally hired) and his charge, Registrar, Office of the Registrar Accountants and Mr. Tanjib-ul Alam, signature is mandatory in regulatory of Joint Stock Companies & Firms

8 No. 377 icab news bulletin June 2021

documents. Similar practice is adopted in information is being held with RJSC and it the sectors of paying tax, enforcing Singapore and Hong Kong, they could improve the corporate governance contract and resolving insolvency etc. observed. in the country. Out of 10 sectors of global ranking, They also said, all private limited In ease of doing business global ranking, Bangladesh has improved in five sectors company with turnover of more than 100 Bangladesh has slightly improved from which pulled the country 8 notch up of the Crore need to issue a report by the 177 to 168 in 2020, has advanced in ranking in 2019. Experts attributed for xperts at a webinar on 24 June directors and it also needs to be reviewed starting a business, dealing with such improvement to government’s 2021 came up with a number of by Auditor under ISA. This director’s construction, getting power connection, initiatives through amendments of observations and report along with the audited Financial registration properties, getting credit, companies act in 2020, with regards to recommendations on companies act for Statement containing comment must be protecting minority investors, though the companies common seals and improving the performance of Bangladesh submitted to RJSC so that more county could not make much progress in one-person company (OPC). in ease of doing business global ranking.

They said, although in 2020 amendments have been made in the companies act 1994, some provisions of the act are still Meeting with NBR Chairman required to fine tune with the best practices like Singapore and Hong Kong, delegation of the Institute of the countries ranking 2 and 3 positions Chartered Accountants of Bangladesh (ICAB) led by its respectively in the ease of doing business A President Mahmudul Hasan Khusru FCA global ranking race in 2020. met with Abu Hena Md Rahmatul Muneem, They said, companies should prepare respected Chairman of National Board of Revenue (NBR) and Senior Secretary of their Financial Statements under the (RJSC), Jibon Krishna Saha Roy, Barrister-at-Law (Lincoln’s Inn), Advocate, Internal Resource Division of Ministry of provision of Financial Reporting Council Director, Bangladesh Investment Appellate Division, Supreme Court of Finance, GoB. The meeting was held on 17 (FRC) at par with international financial Development Authority(BIDA), Barrister Bangladesh jointly presented the keynote June 2021 at NBR Boardroom. reporting standards (IFRS) and the audit Nihad Kabir, President, MCCI, Dr. M. paper. ICAB CEO Shubhashish Bose Other members of the delegation were should be carried out as per International Masrur Reaz, Chairman of Policy made introductory remarks and ICAB ICAB Vice President Maria Howlader FCA, Standards on Auditing (ISA) as approved Exchange of Bangladesh and Vice President Sidhartha Barua FCA Council Member Md. Moniruzzaman FCA, by FRC because international & local Mohammad Enamul Huque, Managing delivered closing remarks in the Webinar. Mohammed Forkan Uddin FCA and CEO investors need to comply with IFRS and Director & Head of Corporate, Shubhashish Bose. NBR Member (Tax Amendments brought in companies act in ISA. Commercial and Institutional Banking, Policy) Md. Alamgir Hossain and Director 2020 allows foreign company to open a Standard Chartered Bank, joined the of Central Intelligence Cell (CIC) Shabbir For ensuring the compliance, the auditors private limited company in Bangladesh programme. Md. Humayun Kabir FCA, Ahmed. should be paid as per prescribed having 100% ownership. It gives them Council Member and Past President, minimum audit fees, they said. They also opportunity to open a company in a short ICAB moderated the programme. stressed the need to digitize all functions time. Similar practice is adopted in Hong of RJSC. ICAB President Mahmudul Hasan Khusru Kong. Before 2020, in Bangladesh Meeting with CAG Bangladesh FCA in his address of welcome said, it is minimum two persons were required to Speakers forwarded some observations necessary to simplify & modernize the open a company whereas under this new and recommendations on the companies delegation of the Institute of corporate laws to ensure a amendments, foreign company can also act 1994 which could contribute a lot to Chartered Accountants of business-friendly atmosphere. Although open a PLC or OPC. Bangladesh (ICAB) led by its elevate the country in ease of doing A amendment to the Companies Act, 1994 President Mahmudul Hasan Khusru FCA business global ranking and boosting up Merger & acquisition of companies should is done; it didn't come upto our met with respected Comptroller and Auditor both foreign and local investment. be bought in two ways -merger by General (CAG) Mohammad Muslim expectation. adoption and merger by formation in line Chowdhury. The meeting was held on 17 The Institute of Chartered Accountants of Government should remove various with the practice adopted in India & UK. June, 2021 at the Audit Bhaban. Bangladesh (ICAB) organized the webinar impediments on improving business However, no such provisions allowed in on ease of doing business: perspective of Other members of the delegation were environment and a balance company act our companies act 1994, they pointed out companies act on 24 June 2021 where ICAB Vice President Maria Howlader FCA, would encourage both local and foreign and added that it needs to be addressed. Immediate Past President Muhammad Tapan Kanti Ghosh, Secretary, Ministry of investors to make more investment in the Farooq FCA, Council Member Md. Commerce, GoB was present as the Chief Under the new amendments any foreign country, he further said. Moniruzzaman FCA and CEO-ICAB Guest. PLC or OPC must appoint a professional Shubhashish Bose. Deputy Comptroller and Snehasish Barua FCA, Partner, in practice as company secretary Auditor General (Accounts and Reports) As Panel Speakers AHM Ahsan, In Snehasish Mahmud & Co., Chartered (external or internally hired) and his Md. Rafiqul Islam was also present. charge, Registrar, Office of the Registrar Accountants and Mr. Tanjib-ul Alam, signature is mandatory in regulatory of Joint Stock Companies & Firms

9 No. 377 June 2021 icab news bulletin

needs to be withdrawn in order to attract engineering products have been offered per cent. As a result, the producer's more customers to MFS services during 10 years conditional tax exemption. current capital requirement will decrease Press Conference on National Budget 2021 the ongoing Covid, so that a cashless ICAB has been proposing this for a long at the same rate. resident of the Institute of society can be established. time to encourage domestic producers. 4. In case of VAT evasion, failure or Chartered Accountants of As a result, the development of industry 4. An organization employs 10 percent irregularity, it is proposed to levy the Bangladesh (ICAB) Mahmudul in the country and import alternative P of its total employees or more than 100 same amount instead of double the fine. Hasan Khusru FCA delivered address of industrial production will be accelerated. third gender people, but it is proposed to welcome in the Press Conference on Although the relevant provisions of the pay 75 percent of the salary paid to National Budget 2021 organised by ICAB 8. It has been proposed to give tax VAT Act 1991 are reviewed, the those employees or 5 percent of the tax on 5 June 2021 through Online Zoom exemption for a period of 10 years to the proposed rate is higher, which should be application. Md. Shahadat Hossain FCA, payable to the employer as tax rebate. In institutions engaged in providing skilled given a second thought. So, I am Council Member-ICAB and Snehasish addition, it has been proposed to pay 5 education and training in the relevant proposing to bring it to a more logical Barua FCA jointly delivered the percent tax rebate to the company if 10 sectors to create skilled human level. percent of the total employees are resources suitable for industrialization. conference paper while Md. Humayun 5. In order to facilitate trade and employed with disabilities. No doubt the Relevant sectors are: Agriculture, Kabir FCA moderated the programme. commerce, it has been made 1 percent present government is relentlessly trying Fisheries, Science and IT Diploma instead of 2 percent monthly on arrears Main focus points of the press to integrate the marginalized and Degree and Vocational Education and or unpaid VAT which is a practical step. conference disadvantaged people of the country into Automobile, Aircraft Preservation, Food, The Hon'ble Finance Minister presented the mainstream of society and economy. Footwear, Glass, Mining, Mechanical, 6. The addition of new provisions on a timely and comprehensive budget of This move is to ensure employment, Shipbuilding, Leather, Refrigeration, covert exports and the establishment of Tk. 6,3,061 crore for the Fiscal Year quality of life and social and economic Ceramics, Mechanist, Garment Design backward connectivity industries is a 2021-22. This is the 13th consecutive So not to view the budget deficit as companies, shut down business activities security for people of transgender and and Pattern Making, Pharmacy, practical step. budget of the present government. The negative in terms of implementation at different times due to Covid-19 global people with disabilities. We also believe Nursing, Integrated Medical, Radiology 7. Conditions of unresolved lawsuits or proposed budget sets a growth target of capacity. epidemic. that raising the tax-free income limit for and Imaging, Ultrasound, Dental, Animal 7.2 percent and an inflation target of 5.3 women entrepreneurs from the current Health and Production Services, appeals or writs in the case of deductible 2. ICAB has been saying that the 5. Although the supplementary budget for percent. Taka 50 lakh to Taka 70 lakh will benefit adjustments from concluding tax-GDP ratio in our country is lower than the fiscal year 2020-21 has been reduced Clothing and Garment Finishing etc. the women entrepreneurs and small and Although Bangladesh has a large young proceedings as current, the removal of Achieving such high growth requires any other countries in the same by five per cent, it can be inferred from medium enterprises (SMEs) sector in population, it lacks the skilled manpower this legal hurdle has removed the integrated transition in all areas of the economy; The ratio is further reduced in the updated implementation of the said the country. required for industrialization. So this impediment to unfinished suit / appeal / economy, which is difficult but not proposed budget. However, the budget that it may not be possible to meet step is timely. writ in the case of reducing the closing impossible. In the last financial year, the Document Verification System (DVS) has the supplementary budget at the end. 5. The budget proposes tax breaks for capital of current capital. GDP growth rate has been 7.2 per cent, been launched as a joint venture Income tax matters: cloud services, system integration, 9. Increasing the tax deduction rate at indicating high growth potential. Budget between the Institute of Chartered e-learning platforms, e-book publishing, source is likely to have an adverse effect 8. It is a welcoming move to make it is ambitious; as a result, efficiency, Accountants of Bangladesh (ICAB) and 1. In the proposed budget for the financial mobile application development on commodity suppliers and mandatory for limited companies to transparency and accountability are the National Board of Revenue. As a year 2021-22, proposed to reduce the tax services and IT freelancing providers infrastructure companies. submit annual financial statements for essential for the implementation. result of this initiative, we believe that the rate of one person company by 25%, this until 2024. ICAB believes that this will the purpose of VAT audit. However, it is taxpayer company will have consideration we think is reasonable. accelerate the process of digital Regarding value added tax: proposed to include the use of Macroeconomics: transparency in the revenue projection Document Verification System (DVS) to 2. In the 2021-22 budget, it has been transformation and make digital services 1. We think that the ambiguity of the 1. The budget deficit for the fiscal year which would contribute to the increase in verify the accuracy of the annual proposed to reduce the tax rate of listed accessible to all classes of citizens Value Added Tax Act has been removed 2021-22 is the biggest deficit in the revenue. The initiative to bring Nonfiler financial statements. With this initiative, companies from 25 per cent to 22.50 per easily and at low cost, which will have a in order to clarify the issue of zero VAT history of the country due to low revenue companies under income tax filing is transparency will come in the company's cent and for non-listed companies from positive impact on the realization of the in the export of services outside collection during the ongoing global appreciable. annual financial statements which will 32.50 per cent to 30.00 per cent, which is dream of building a digital Bangladesh. Bangladesh. epidemic. The budget deficit is 6.20 contribute to the collection of VAT. 3. Extensive economic activities are commendable. ICAB has been proposing percent of the total GDP. The finance 6. To encourage local industry and 2. The supply of goods or services within needed to mitigate the effects of the this for a long time. eliminate import dependence in the IT Customs law matters: minister has said that the reliance on Covid-19 epidemic on the economy and Bangladesh has been deemed to be a sector, some selected IT hardware foreign sources will be slightly increased increase investment to create jobs for the 3. Currently the tax rate on mobile covert export as opposed to foreign 1. We welcome the proposal to include manufacturers such as motherboards, in the proposed budget as compared to unemployed. The reality is that as long as financial services (MFS) has been currency bonds for the partial execution chartered accountants as authorized the previous year to meet the deficit. In the Covid-19 epidemic is in the country, increased. The tax rate for MFS UPS, speakers, sound systems, USB of the work of an organization located representatives and customs addition, the target for borrowing from the there will be no significant investment companies listed on the capital market cables, etc. have been offered within Bangladesh which has been consultants in the Customs Act. ICAB banking system for the entire financial and no increase in employment. has been increased from 32.50 per cent conditional tax exemption for 10 years. commissioned through international has been making this claim for a long year is Tk 76452 crore. Therefore, according to the government's to 36.50 per cent and if unlisted, 40 per As a result, digital services will reach the tenders. Previously, it was only valid for time. The VAT and SD Act 2012 and cent tax has been proposed. As no MFS citizens easily and at low cost. We think that government spending will plan to revive the economy, 80 percent of the activities of an organization located the Income Tax Ordinance also company has been listed on the capital have to increase even if we borrow now , the population must be vaccinated at any 7. In order to establish the Made in outside Bangladesh. include chartered accountants as cost. Eradicating the coronavirus is the market so far, all MFS companies will consultants. to keep the economy vibrant. Bangladesh brand, Therefore, as a result of amending the number one challenge. have to pay 40 per cent tax. Government spending should be automobile-three-wheeler and rule in this case, equality has been 2. I welcome the proposal to increase increased in all sectors where domestic 4. It was felt necessary to increase Low-income people are more likely to use four-wheeler manufacturing companies provided in domestic and foreign the perimeter of Bangladesh products and services are used. As a allocation in the social security sector MFS services; as a result, this coverage have been offered conditional tax establishments. customs-waters from 12 nautical miles result, employment in the country and the will hinder the poor population from considering the fact that a large number exemption for a period of 10-20 years. In to 24 nautical miles is a great initiative. flow of money to the people will increase. financial inclusion which could have a 3. The advance tax applicable to of people in the country are falling below addition, some companies As a result of the conquest of the sea, At this moment, human life and livelihood negative impact on overall digitization. imported goods for production purposes the poverty line due to general holidays, manufacturing home appliances and this addition has been epoch-making. should be given the highest importance. lockdowns, job cut in manufacturing ICAB thinks that this tax hike proposal kitchen appliances products and light has been reduced from 4 per cent to 3

10 No. 377 icab news bulletin June 2021

needs to be withdrawn in order to attract engineering products have been offered per cent. As a result, the producer's more customers to MFS services during 10 years conditional tax exemption. current capital requirement will decrease the ongoing Covid, so that a cashless ICAB has been proposing this for a long at the same rate. resident of the Institute of society can be established. time to encourage domestic producers. 4. In case of VAT evasion, failure or Chartered Accountants of As a result, the development of industry 4. An organization employs 10 percent irregularity, it is proposed to levy the Bangladesh (ICAB) Mahmudul in the country and import alternative of its total employees or more than 100 same amount instead of double the fine. Hasan Khusru FCA delivered address of industrial production will be accelerated. third gender people, but it is proposed to welcome in the Press Conference on Although the relevant provisions of the pay 75 percent of the salary paid to National Budget 2021 organised by ICAB 8. It has been proposed to give tax VAT Act 1991 are reviewed, the those employees or 5 percent of the tax on 5 June 2021 through Online Zoom exemption for a period of 10 years to the proposed rate is higher, which should be application. Md. Shahadat Hossain FCA, payable to the employer as tax rebate. In institutions engaged in providing skilled given a second thought. So, I am Council Member-ICAB and Snehasish addition, it has been proposed to pay 5 education and training in the relevant proposing to bring it to a more logical Barua FCA jointly delivered the percent tax rebate to the company if 10 sectors to create skilled human level. percent of the total employees are resources suitable for industrialization. conference paper while Md. Humayun 5. In order to facilitate trade and employed with disabilities. No doubt the Relevant sectors are: Agriculture, Kabir FCA moderated the programme. commerce, it has been made 1 percent present government is relentlessly trying Fisheries, Science and IT Diploma instead of 2 percent monthly on arrears Main focus points of the press to integrate the marginalized and Degree and Vocational Education and or unpaid VAT which is a practical step. conference disadvantaged people of the country into Automobile, Aircraft Preservation, Food, The Hon'ble Finance Minister presented the mainstream of society and economy. Footwear, Glass, Mining, Mechanical, 6. The addition of new provisions on a timely and comprehensive budget of This move is to ensure employment, Shipbuilding, Leather, Refrigeration, covert exports and the establishment of Tk. 6,3,061 crore for the Fiscal Year quality of life and social and economic Ceramics, Mechanist, Garment Design backward connectivity industries is a 2021-22. This is the 13th consecutive So not to view the budget deficit as companies, shut down business activities security for people of transgender and and Pattern Making, Pharmacy, practical step. budget of the present government. The negative in terms of implementation at different times due to Covid-19 global people with disabilities. We also believe Nursing, Integrated Medical, Radiology 7. Conditions of unresolved lawsuits or proposed budget sets a growth target of capacity. epidemic. that raising the tax-free income limit for and Imaging, Ultrasound, Dental, Animal 7.2 percent and an inflation target of 5.3 women entrepreneurs from the current Health and Production Services, appeals or writs in the case of deductible 2. ICAB has been saying that the 5. Although the supplementary budget for percent. Taka 50 lakh to Taka 70 lakh will benefit adjustments from concluding tax-GDP ratio in our country is lower than the fiscal year 2020-21 has been reduced Clothing and Garment Finishing etc. the women entrepreneurs and small and Although Bangladesh has a large young proceedings as current, the removal of Achieving such high growth requires any other countries in the same by five per cent, it can be inferred from medium enterprises (SMEs) sector in population, it lacks the skilled manpower this legal hurdle has removed the integrated transition in all areas of the economy; The ratio is further reduced in the updated implementation of the said the country. required for industrialization. So this impediment to unfinished suit / appeal / economy, which is difficult but not proposed budget. However, the budget that it may not be possible to meet step is timely. writ in the case of reducing the closing impossible. In the last financial year, the Document Verification System (DVS) has the supplementary budget at the end. 5. The budget proposes tax breaks for capital of current capital. GDP growth rate has been 7.2 per cent, been launched as a joint venture Income tax matters: cloud services, system integration, 9. Increasing the tax deduction rate at indicating high growth potential. Budget between the Institute of Chartered e-learning platforms, e-book publishing, source is likely to have an adverse effect 8. It is a welcoming move to make it is ambitious; as a result, efficiency, Accountants of Bangladesh (ICAB) and 1. In the proposed budget for the financial mobile application development on commodity suppliers and mandatory for limited companies to transparency and accountability are the National Board of Revenue. As a year 2021-22, proposed to reduce the tax services and IT freelancing providers infrastructure companies. submit annual financial statements for essential for the implementation. result of this initiative, we believe that the rate of one person company by 25%, this until 2024. ICAB believes that this will the purpose of VAT audit. However, it is taxpayer company will have consideration we think is reasonable. accelerate the process of digital Regarding value added tax: proposed to include the use of Macroeconomics: transparency in the revenue projection Document Verification System (DVS) to 2. In the 2021-22 budget, it has been transformation and make digital services 1. We think that the ambiguity of the 1. The budget deficit for the fiscal year which would contribute to the increase in verify the accuracy of the annual proposed to reduce the tax rate of listed accessible to all classes of citizens Value Added Tax Act has been removed 2021-22 is the biggest deficit in the revenue. The initiative to bring Nonfiler financial statements. With this initiative, companies from 25 per cent to 22.50 per easily and at low cost, which will have a in order to clarify the issue of zero VAT history of the country due to low revenue companies under income tax filing is transparency will come in the company's cent and for non-listed companies from positive impact on the realization of the in the export of services outside collection during the ongoing global appreciable. annual financial statements which will 32.50 per cent to 30.00 per cent, which is dream of building a digital Bangladesh. Bangladesh. epidemic. The budget deficit is 6.20 contribute to the collection of VAT. 3. Extensive economic activities are commendable. ICAB has been proposing percent of the total GDP. The finance 6. To encourage local industry and 2. The supply of goods or services within needed to mitigate the effects of the this for a long time. eliminate import dependence in the IT Customs law matters: minister has said that the reliance on Covid-19 epidemic on the economy and Bangladesh has been deemed to be a sector, some selected IT hardware foreign sources will be slightly increased increase investment to create jobs for the 3. Currently the tax rate on mobile covert export as opposed to foreign 1. We welcome the proposal to include manufacturers such as motherboards, in the proposed budget as compared to unemployed. The reality is that as long as financial services (MFS) has been currency bonds for the partial execution chartered accountants as authorized the previous year to meet the deficit. In the Covid-19 epidemic is in the country, increased. The tax rate for MFS UPS, speakers, sound systems, USB of the work of an organization located representatives and customs addition, the target for borrowing from the there will be no significant investment companies listed on the capital market cables, etc. have been offered within Bangladesh which has been consultants in the Customs Act. ICAB banking system for the entire financial and no increase in employment. has been increased from 32.50 per cent conditional tax exemption for 10 years. commissioned through international has been making this claim for a long year is Tk 76452 crore. Therefore, according to the government's to 36.50 per cent and if unlisted, 40 per As a result, digital services will reach the tenders. Previously, it was only valid for time. The VAT and SD Act 2012 and cent tax has been proposed. As no MFS citizens easily and at low cost. We think that government spending will plan to revive the economy, 80 percent of the activities of an organization located the Income Tax Ordinance also company has been listed on the capital have to increase even if we borrow now , the population must be vaccinated at any 7. In order to establish the Made in outside Bangladesh. include chartered accountants as cost. Eradicating the coronavirus is the market so far, all MFS companies will consultants. to keep the economy vibrant. Bangladesh brand, Therefore, as a result of amending the number one challenge. have to pay 40 per cent tax. Government spending should be automobile-three-wheeler and rule in this case, equality has been 2. I welcome the proposal to increase increased in all sectors where domestic 4. It was felt necessary to increase Low-income people are more likely to use four-wheeler manufacturing companies provided in domestic and foreign the perimeter of Bangladesh products and services are used. As a allocation in the social security sector MFS services; as a result, this coverage have been offered conditional tax establishments. customs-waters from 12 nautical miles result, employment in the country and the will hinder the poor population from considering the fact that a large number exemption for a period of 10-20 years. In to 24 nautical miles is a great initiative. flow of money to the people will increase. financial inclusion which could have a 3. The advance tax applicable to of people in the country are falling below addition, some companies As a result of the conquest of the sea, At this moment, human life and livelihood negative impact on overall digitization. imported goods for production purposes the poverty line due to general holidays, manufacturing home appliances and this addition has been epoch-making. should be given the highest importance. lockdowns, job cut in manufacturing ICAB thinks that this tax hike proposal kitchen appliances products and light has been reduced from 4 per cent to 3

11 No. 377 June 2021 icab news bulletin ICAB Team paid a courtesy call on newly appointed Commerce Secretary, GoB delegation of The Institute of Chartered Accountants of Bangladesh (ICAB) led by its President Mahmudul AHasan Khusru FCA paid a courtesy call on Tapan Kanti Ghosh on his taking over as the Secretary of the Ministry of Commerce, GoB. The meeting was held on 7 June 2021 at the office of the Secretary.

Other members of the delegation were ICAB Vice President Maria Howlader FCA, Council Member Md. Moniruzzaman FCA and CEO Shubhashish Bose. During the meeting, they congratulated Tapan Kanti Ghosh on assuming the charge of Commerce Secretary and sought his cooperation in different activities of the institute. The Secretary thanked the ICAB delegation and enquired about the activities of the Institute. He assured of his full cooperation from the ministry to the Institute in coming days.

ICAB Academic Campus News expected to begin from 05 August Education & Student Affairs Division and 2021. a team, under the supervision of the Vice The regular session (April-June, 2021) President (Education & Examination)- of Certificate Level virtual classes which Meanwhile, framing 8- Fridays' a- short ICAB, Mr. Md. Abdul Kader Joaddar started from 04 April, 2021 will be closed course on English Language, to FCA, with the guidance and consent of on July 08, 2021.There are 316 students enhance the skills & capacities of the Chairman, Board of Studies-ICAB, with 41 teachers in the session. English Language for the CA students ASM NayeemFCA & ICAB President would begin from 13 August 2021 at Another online session (July-Oct, 2021) Mahmudul Hasan Khusru FCA. virtual platform under the guidance of for the Certificate Level students would Bangladesh Chartered Accountancy commence from 28 July, 2021. A Notice ChatraParishad (BCACP) & supervised has already been issued in this regard by Dhaka Regional Committee and all the concerned students are (DRC)-ICAB. The session would be Announcement advised to enroll for the classes by 26 (Classes of Next Session) closed on 01 October 2021. July 2021 and attend to the online The new session (July-Sept, session accordingly. The Articleship Management 2021) for Certificate Level Department has registered 49 students On the other hand, the students who students has been scheduled to within the month of June 2021’ have already passed 04 subjects of start on July 28, 2021 through Certificate Level or Professional Level; The Counseling and Placement online system by using Zoom or earlier appeared at Department takes 2 events, as apps. Here following the 7-subjects’/papers’ exam of Certificate awareness and motivational program government directives and Level or Professional Level are allowed virtually for the students Tilted: considering the existing situations flexibility in attending mandatory "Chartered Accountancy a Career of the country, the course will be coaching classes of next level Choice Program-2021"held on 03 & 17 commenced for the benefit of the (professional or advanced). The June 2021. students. A Notice has already students’ enrollment has been closed been issued in this matter. The above program and activities have on 30 June, 2021. The classes are been organized by the Head of Source: ICAB Campus

12 No. 377 icab news bulletin June 2021 Chartered Accountancy-A Career Choice hartered Accountancy-A Career Choice - Season-1, Episode -1, C was held on 3 June 2021 through virtual platform where university teachers, students and members of ICAB participated. They exchanged views on the CA profession as a career.

Amirus Salat , Associate Professor, AIS, University of Dhaka and Rabita Sabah, Assistant Professor, AIS, Jaggannath University participated in the program and shared their views.

In this episode, the guest participant was Md. Mustaq Ahmed FCA, Senior Manager, Banglalink Digital Communication Ltd. Students from Dhaka University Business Faculty, North South University and Bangladesh University of Professionals also took part in the discussion.

ICAB President Mahmudul Hasan Khusru FCA delivered address of Choice - Season-1, Episode -2, was also FCA, Sujan Kumar Saha FCA and Md. welcome and Vice President Md. Abdul held on 17 June 2021 through virtual Maruf Hasan ACA. platform where members of ICAB Kader Joaddar FCA gave opening Further ICAB President Mahmudul participated. The participants discussed remarks. Md Nazib Ullah ACA Hasan Khusru FCA delivered address of on how the professional knowledge can moderated the session. The program welcome and Vice President Md. Abdul help to grow further in career, citing their was organised by the Student Kader Joaddar FCA gave closing live example. In this episode, the guest Counseling Section of ICAB. remarks. Md Nazib Ullah ACA participants were Abdullah Al Mamun Chartered Accountancy-A Career moderated the session. Training on “Minimum audit documentation for each audit client” CAB organised Training on and keep minimum audit documents for Professor (Department of Finance), “minimum audit documentation for audit engagements. More specifically, University of Dhaka, Sk. Md. Tarikul I each audit client” by using ZOOM the training prescribed the minimum Islam FCA, Partner, Hoda Vasi APP for practicing members of ICAB documents in Audit Permanent File, Chowdhury & Co. Chartered and authorized representatives from CA development of Audit Plan, etc. This was Accountants, Sk. Ashik Iqbal ACA, CPA firms. The training program started from also helpful to enhance the capacity of (USA), Partner, Nurul Faruk Hasan & 21 June 2021 and closed on 1 July the participants in the preparation of the Co. Chartered Accountants; and 2021. The classes were scheduled on audit documentation. Sukanta Bhattacharjee FCA, Partner, Monday & Thursday of every week. The resource persons were Mohammad Snehasish Mahmud & Co., Chartered This training focused on how to prepare Salahuddin Chowdhury FCA, Assistant Accountants.

13 No. 377 June 2021 icab news bulletin Virtual Members’ Conference on ‘Audit Practice in Admission as Fellows The following members have been admitted as Fellow of the Bangladesh: Laws, Draft Rules and Way forward’ Institute with effect from the date mentioned against their names: irtual Members’ Conference on Audit Practice in Bangladesh: Name Effective Date V Laws, Draft Rules and Way Forward’ was held on 26 June 2021 Mohammed Shariful Islam FCA (1125) 30 May 2021 where ICAB Chief Operating Officer Chief Planning Officer Mahbub Ahmed Siddique FCA Max Infrastructure Limited presented the keynote paper. RAOWA Complex, Level-11 ICAB President Mahmudul Hasan VIP Road, Mohakhali Khusru FCA delivered address of Dhaka-1206 welcome. The conference was moderated by ICAB Immediate Past Evana Hoque FCA (1459) 09 June 2021 President and Council Member Head of Accounts Payables Muhammad Farooq FCA. ICAB CEO Shubhashish Bose FCA gave BRAC introductory remarks while ICAB Vice BRAC Centre, 75 Mohakhali President Sidhartha Barua FCA Dhaka-1212 delivered closing remarks. Members of ICAB specially practicing members Tasnima Nur FCA (1754) 02 June 2021 spontaneously participated in the 23/1 Purana Paltan Line conference and became aware of Dhaka-1000. updated scenario regarding various regulation related to audit practice. Sayed Ashraf Mohammed Iqbal FCA (1756) 03 June 2021 Manager, Finance & Corporate Audit Robi Axiata Limited Online Certificate Course on Information Robi Corporate Office th 53 Gulshan South Avenue Systems Audit (IS Audit)-5 Batch Gulshan -1, Dhaka-1212 or being fully accountable, Individuals intending to become ethics, study about IS audit framework responsible and committed to the Information Systems Auditor and and methodology, plan and perform an F emerging need of tomorrow's Assurer. The program started from 5 IS Audit assignment, conduct of IS Audit auditors, ICAB organised Online June 2021 and the classes were in case of various Software and Permission to Continue Practice Certificate Course on Information scheduled on Saturday, Monday & Hardware, Audit IS Security measures The following member has been permitted to Continue Systems Audit (IS Audit) for the Wednesday of every week for 3 Months. taken by the organization and Improve Practice as Public Accountants with effect from the date professionals in business, IT, finance, governance structure of the auditee The module of the training was charted mentioned against his name: Banking Sectors, accounts and organisation and its Business Continuity focusing on the target areas; understand compliance, Regulators, Internal Planning. applicable standards for IS Audit and Name Effective Date Auditors & External Auditors and Md. Mahmudul Ambia FCA (1067) 23 May 2021 Partner Online Certificate Course on Audit Mahfel Huq & Co. Chartered Accountants Methodology Based on ISA BGIC Tower (4th Floor) CAB organized a comprehensive professionals in auditing. The training Students of professional accounting and 34 Topkhana Road online certificate course on Audit started from 20 June 2021 and finance and Internal auditors and Dhaka-1000 I Methodology based on International scheduled on every Sunday and members of those charged with Standards on Auditing (ISA) with a view Wednesday for consecutive 5 weeks. governance of an organization to enhancing the competence of participated in the training. ICAB Practicing Members of ICAB,

Permission to Start Practice Name Effective Date Mahfel Huq & Co. 23 May 2021 The following members have been permitted to Start Practice Chartered Accountants as Public Accountants with effect from the date mentioned BGIC Tower (4th Floor) against their names: 34 Topkhana Road, Dhaka-1000 Name Effective Date The other partners of the firm: Howlader Mahfel Huq FCA (105), Md. Sarwar Azam Khan FCA (409) 17 June 2021 Abu Kaiser FCA (626), Wasequl Huq Reagan FCA (1517) and Md. Partner Abdus Satter Sarkar FCA (1522). A. Qasem & Co. Chartered Accountants Permission to train Articled Students Gulshan Pink City The following members have been permitted to train Articled Suite @ 01-03, Level-7, Plot # 15 Students with effect from the date mentioned against their names: Road # 103, Gulshan Avenue Dhaka-1212 Name Effective Date ABM Hussain Ahmed FCA (242) 28 January 2021 Gorachad Kundu FCA (1468) 17 June 2021 Partner Partner Shafiq Mizan Rahman & Augustine A. Qasem & Co. Chartered Accountants Chartered Accountants Flat No. 3-A(2nd floor), 137/D/1 Gulshan Pink City Jahanara Garden, Green Road Suite @ 01-03, Level-7, Plot # 15 Dhaka-1205 Road # 103, Gulshan Avenue Dhaka-1212 Change of Firm’s Address Name & New Address Effective Date

Permission to Join as Partner Shaha & Co. 4 April 2021 Sarwar Azam Khan FCA (409) and Gorachad Kundu FCA Chartered Accountants (1468) have been permitted to form a partnership and continue Wazi Complex (6th Floor) practice under the name and style of: 31/C, Topkhana Road Segunbagicha, Dhaka-1000 Name Effective Date Mollah Quadir Yusuf & Co. 2 June 2021 A. Qasem & Co. 17 June 2021 Chartered Accountants Chartered Accountants 63/F (3rd Floor), Dolphin goli Gulshan Pink City Lake Circus, Kalabagan, Dhaka Suite @ 01-03, Level-7, Plot # 15 Road # 103, Gulshan Avenue Haque Shah Alam Mansur & Co. 1 April 2021 Chartered Accountants Dhaka-1212 78/E, Purana Paltan Line (3rd Floor) The other partners of the firm: Akhtar Sohel Kasem FCA Bijoynagar, Dhaka-1000 (328), Akhtar Sanjida Kasem FCA (643), Mohammad Motaleb A. T. Talukder & Co. 25 March 2021 Hossain FCA (950), Md. Johirul Islam FCA (1257) and Ziaur Chartered Accountants Rahman Zia FCA (1259). Suit No. 5, Akram Tower (8th Floor) Md. Mahmudul Ambia FCA (1067) has been permitted to 199/15/5 Syed nazrul Islam Shwarani form a partnership and continue practice under the name and Bijoy Nagar, Dhaka-1000 style of: No. 377 icab news bulletin June 2021

Anwaruddin Chowdhury Admission as Fellows Participates in IFAC, The following members have been admitted as Fellow of the Institute with effect from the date mentioned against their IPSASB, CAG Meeting names:

Name Effective Date Mohammed Shariful Islam FCA (1125) 30 May 2021 Chief Planning Officer Max Infrastructure Limited RAOWA Complex, Level-11 VIP Road, Mohakhali Dhaka-1206

Evana Hoque FCA (1459) 09 June 2021 Head of Accounts Payables BRAC BRAC Centre, 75 Mohakhali Dhaka-1212

Tasnima Nur FCA (1754) 02 June 2021 nwaruddin Chowdhury FCA, Past President-ICAB 23/1 Purana Paltan Line participates in IFAC, IPSASB, Consultative Advisory A Group (CAG) virtual meeting on 14 June 2021. Dhaka-1000. Sayed Ashraf Mohammed Iqbal FCA (1756) 03 June 2021 Manager, Finance & Corporate Audit Robi Axiata Limited Robi Corporate Office Request for 53 Gulshan South Avenue Membership of ICAB Gulshan -1, Dhaka-1212 Members’ Welfare Foundation (IMWF) Permission to Continue Practice The following member has been permitted to Continue ICAB Members’ Welfare Foundation (IMWF) has Practice as Public Accountants with effect from the date been formed by ICAB for the benefit and welfare mentioned against his name:

of the members of ICAB. Name Effective Date

Respected members are requested to kindly Md. Mahmudul Ambia FCA (1067) 23 May 2021 collect registration form and send filled in form to Partner ICAB Secretariat alongwith a crossed Mahfel Huq & Co. Chartered Accountants cheque/Pay Order/ DD of Tk. 25,000 (Taka BGIC Tower (4th Floor) twenty five thousand) only as membership 34 Topkhana Road admission fee in favour of ‘ICAB Members Dhaka-1000 Welfare Foundation.’

Name Effective Date Mohammed Shariful Islam FCA (1125) 30 May 2021 Chief Planning Officer Max Infrastructure Limited RAOWA Complex, Level-11 VIP Road, Mohakhali Dhaka-1206

Evana Hoque FCA (1459) 09 June 2021 Head of Accounts Payables BRAC BRAC Centre, 75 Mohakhali Dhaka-1212

Tasnima Nur FCA (1754) 02 June 2021 23/1 Purana Paltan Line Dhaka-1000.

Sayed Ashraf Mohammed Iqbal FCA (1756) 03 June 2021 Manager, Finance & Corporate Audit Robi Axiata Limited Robi Corporate Office 53 Gulshan South Avenue Gulshan -1, Dhaka-1212

Permission to Continue Practice The following member has been permitted to Continue Practice as Public Accountants with effect from the date mentioned against his name:

Name Effective Date

Md. Mahmudul Ambia FCA (1067) 23 May 2021 Partner Mahfel Huq & Co. Chartered Accountants BGIC Tower (4th Floor) 34 Topkhana Road Dhaka-1000

No. 377 June 2021 icab news bulletin Permission to Start Practice Name Effective Date Mahfel Huq & Co. 23 May 2021 The following members have been permitted to Start Practice Chartered Accountants as Public Accountants with effect from the date mentioned BGIC Tower (4th Floor) against their names: 34 Topkhana Road, Dhaka-1000 Name Effective Date The other partners of the firm: Howlader Mahfel Huq FCA (105), Md. Sarwar Azam Khan FCA (409) 17 June 2021 Abu Kaiser FCA (626), Wasequl Huq Reagan FCA (1517) and Md. Partner Abdus Satter Sarkar FCA (1522). A. Qasem & Co. Chartered Accountants Permission to train Articled Students Gulshan Pink City The following members have been permitted to train Articled Suite @ 01-03, Level-7, Plot # 15 Students with effect from the date mentioned against their names: Road # 103, Gulshan Avenue Dhaka-1212 Name Effective Date ABM Hussain Ahmed FCA (242) 28 January 2021 Gorachad Kundu FCA (1468) 17 June 2021 Partner Partner Shafiq Mizan Rahman & Augustine A. Qasem & Co. Chartered Accountants Chartered Accountants Flat No. 3-A(2nd floor), 137/D/1 Gulshan Pink City Jahanara Garden, Green Road Suite @ 01-03, Level-7, Plot # 15 Dhaka-1205 Road # 103, Gulshan Avenue Dhaka-1212 Change of Firm’s Address Name & New Address Effective Date

16 Admission as Fellows The following members have been admitted as Fellow of the Institute with effect from the date mentioned against their names:

Name Effective Date Mohammed Shariful Islam FCA (1125) 30 May 2021 Chief Planning Officer Max Infrastructure Limited RAOWA Complex, Level-11 VIP Road, Mohakhali Dhaka-1206

Evana Hoque FCA (1459) 09 June 2021 Head of Accounts Payables BRAC BRAC Centre, 75 Mohakhali Dhaka-1212

Tasnima Nur FCA (1754) 02 June 2021 23/1 Purana Paltan Line Dhaka-1000.

Sayed Ashraf Mohammed Iqbal FCA (1756) 03 June 2021 Manager, Finance & Corporate Audit Robi Axiata Limited Robi Corporate Office 53 Gulshan South Avenue Gulshan -1, Dhaka-1212

Permission to Continue Practice The following member has been permitted to Continue Practice as Public Accountants with effect from the date mentioned against his name:

Name Effective Date

Md. Mahmudul Ambia FCA (1067) 23 May 2021 Partner Mahfel Huq & Co. Chartered Accountants BGIC Tower (4th Floor) 34 Topkhana Road Dhaka-1000

No. 377 icab news bulletin June 2021 Permission to Start Practice Name Effective Date Mahfel Huq & Co. 23 May 2021 Report on Disciplinary Actions The following members have been permitted to Start Practice Chartered Accountants The Council-ICAB has taken disciplinary actions against some of its Members’ on 22 June 2021 based on the as Public Accountants with effect from the date mentioned recommendations of the Investigation & Disciplinary Committee (IDC). The summary of those disciplinary actions is as follows: BGIC Tower (4th Floor) against their names: Basis of Effective 34 Topkhana Road, Dhaka-1000 Cases Summary of Findings Disciplinary Actions Investigation Date Name Effective Date The other partners of the firm: Howlader Mahfel Huq FCA (105), Md. Case # 04 Complain of The IDC found Mr. Ramendra Nath The Council decided to suspend 24 June Sarwar Azam Khan FCA (409) 17 June 2021 Abu Kaiser FCA (626), Wasequl Huq Reagan FCA (1517) and Md. Mr. Ramendra Bangladesh Basak FCA (671) as guilty of the membership of Mr. Ramendra 2021 Nath Basak Bank professional misconduct under clauses Nath Basak FCA (671) for 05 (five) Partner Abdus Satter Sarkar FCA (1522). FCA (671) # 24, 21 and 33 of Schedule-C of ICAB years with effect from the date of A. Qasem & Co. Partner, Siraz Bye-laws 2004 for: communication of decision of Council ICAB. Chartered Accountants Khan Basak & a) signing and issuing 2 (two) Permission to train Articled Students Co. Chartered Gulshan Pink City Auditor’s reports on 2(two) The following members have been permitted to train Articled Accountants different types of Financial Suite @ 01-03, Level-7, Plot # 15 Statements (FS) for the same Students with effect from the date mentioned against their names: Road # 103, Gulshan Avenue period (year ended 30 June 2019) of Silver Composite which is Dhaka-1212 Name Effective Date discreditable to a chartered ABM Hussain Ahmed FCA (242) 28 January 2021 accountant or a member of the Gorachad Kundu FCA (1468) 17 June 2021 Institute; Partner Partner Shafiq Mizan Rahman & Augustine b) Acting with gross negligence in A. Qasem & Co. conducting professional duties Chartered Accountants and responsibilities as an auditor Chartered Accountants Flat No. 3-A(2nd floor), 137/D/1 of Silver Composite; and Gulshan Pink City Jahanara Garden, Green Road c) failing to perform audit in Suite @ 01-03, Level-7, Plot # 15 accordance with the International Dhaka-1205 Road # 103, Gulshan Avenue Standards on Auditing (ISA) in following cases: Dhaka-1212 i) As per his statement, the Change of Firm’s Address Audit report on the financial Name & New Address Effective Date statements, which was submitted to IFIC Bank by Permission to Join as Partner Shaha & Co. 4 April 2021 the Management of Silver Composite and signed and Sarwar Azam Khan FCA (409) and Gorachad Kundu FCA Chartered Accountants issued by himself was the (1468) have been permitted to form a partnership and continue Wazi Complex (6th Floor) “DRAFT” version and these practice under the name and style of: 31/C, Topkhana Road financial statements were revised before AGM. Segunbagicha, Dhaka-1000 Name Effective Date ii) Also, he stated, the Audit Mollah Quadir Yusuf & Co. 2 June 2021 Report on the financial A. Qasem & Co. 17 June 2021 Chartered Accountants statements which was Chartered Accountants submitted to One Bank by 63/F (3rd Floor), Dolphin goli the Management of Silver Gulshan Pink City Lake Circus, Kalabagan, Dhaka Composite was the Suite @ 01-03, Level-7, Plot # 15 “FINAL” version. These Road # 103, Gulshan Avenue Haque Shah Alam Mansur & Co. 1 April 2021 financial statements were Chartered Accountants modified in major areas Dhaka-1212 from the DRAFT financial 78/E, Purana Paltan Line (3rd Floor) statements. As an auditor, The other partners of the firm: Akhtar Sohel Kasem FCA Bijoynagar, Dhaka-1000 his activities and audit (328), Akhtar Sanjida Kasem FCA (643), Mohammad Motaleb documentation, in A. T. Talukder & Co. 25 March 2021 Hossain FCA (950), Md. Johirul Islam FCA (1257) and Ziaur compliance with paras 10- Chartered Accountants 12 of ISA 560 were not Rahman Zia FCA (1259). found properly. Suit No. 5, Akram Tower (8th Floor)

Md. Mahmudul Ambia FCA (1067) has been permitted to 199/15/5 Syed nazrul Islam Shwarani N.B.: form a partnership and continue practice under the name and Bijoy Nagar, Dhaka-1000 1. As per decision of the Council-ICAB, the above report has been published in ICAB News Bulletin and ICAB Website under bye-law 131(1) of ICAB Bye-Laws 2004. style of:

17 No. 377 June 2021 icab news bulletin MoU signed between ICAB and CA ANZ

he Institute of Chartered completion of CA ANZ International ICAB Vice President Md. Abdul Kader Accountants of Bangladesh Pathway Program (IPP). On the other Joaddar FCA, Council Member & Past T(ICAB) and Chartered hand, CA ANZ members can also be President Nasir Uddin Ahmed FCA, Accountants Australia & New Zealand members of ICAB subject to having Council Member Sabbir Ahmed FCA, (CA ANZ) have signed a Memorandum Bangladeshi citizenship and other CEO Shubhashish Bose, CA ANZ CEO of Understanding (MoU) on 16 June requirements as prescribed by ICAB Ainslie van Onselen and Manager 2021 virtually. Bye-laws. International Liaison, International Under this MoU both the Institutes will ICAB President Mahmudul Hasan Development Navini Peiris CA, ICAB recognize their members based on Khusru FCA said, under this MOU the Asia Pacific Chapter Chairman pathway program and practical relationship between the two renowned Hamiduddin Ahmed FCA and Secretary experience. There will be no Institutes will open a new horizon, wider Abu Haider Mohammed Kibria FCA requirement of passing CA ANZ general network, foster mutual collaboration, spoke in the occasion. route examinations by eligible ICAB enhance professional expertise, add members as CA ANZ International value to the members and the nation as CA ANZ is an Australian registered Pathway Program (IPP) workshop would a whole. body corporate that is governed by its examine through case studies on the President-CAANZ Dr. Nivos Botica Supplemental Royal Charter and the CA contemporary Australasian business, Rodmayno FCA said, this initiative will ANZ Bye-Laws and is domiciled in accounting and finance environment strengthen our partnership and benefit Australia. CA ANZ operates in six relevant for members of ICAB. mutually. She said, CA professionals are jurisdictions namely Australia, New ICAB President Mahmudul Hasan difference makers and we shall be able Zealand, Hong Kong, Singapore, Khusru FCA and CA ANZ CEO Ainslie to make a difference in terms of Malaysia and the United Kingdom. CA van Onselen signed the MoU from their education, sharing learning and ANZ has more than 128,000 members respective sides. members’ benefits in future. globally and as a higher education This MoU stipulated that ICAB members Mentioned that ICAB members are also provider in accounting, the Chartered living in Australia or New Zealand having recognized by the Institute of Chartered Accountants program combines the five years post qualification experience Accountants in England & rigour of education and the practical at anywhere will be eligible to be Wales(ICAEW), UK without attending application of learned skills in the member of CA CANZ after successful ICAEW normal examination route. workplace.

Published by the Editorial Board of the Council, The Institute of Chartered Accountants of Bangladesh (ICAB) 100 Kazi Nazrul Islam Avenue, Dhaka 1215; Tel. +8809612612100, +880-2-9115340,18 Fax: +880-2-9125266, E-mail: [email protected], Website: www.icab.org.bd