The Institute of Chartered Accountants of Bangladesh (ICAB) delegates paid a courtesy call on Mr. Md. Shahiduzzaman Sarker MP, Hon’ble Minister of State, Ministry of Planning, GoB on 10 June 2024 Monday at his office, Sher-E-Bangla Nagar, Agargaon, Dhaka.
The ICAB delegation was led by its current President Mr. Mohammed Forkan Uddin FCA and comprised of other members namely Mr. MBM Lutful Hadee FCA, Vice President (Education & Examinations) and Chief Executive Officer Mr. Shubhashish Bose.
ICAB Delegation congratulated Mr. Md. Shahiduzzaman Sarker MP on his taking over as the Hon’ble Minister of State, Ministry of Planning. As a gesture of good-will, the President of the ICAB presented a bouquet and a souvenir to him.
Mr. Md. Shahiduzzaman Sarker MP was briefed on the activities of ICAB including bringing discipline & ensuring transparency, accountability and good governance in the economy of the country. He was apprised of the introduction of Document Verification System (DVS) and its impact on financial reporting and redressing fake financial statements.
The President mentioned that the ICAB was established on 6 January 1973 by the Father of the Nation Bangabandhu Sheikh Mujibur Rahman through President’s Order No. 2 of 1973, considering the importance of regulating the Accounting and Auditing profession in the newly born Bangladesh. The President’s Order was the reflection of the farsightedness of the father of the Nation.
The President also reiterated ICAB’s commitment to collaboration with the Ministry of Planning in any situation for the sake of the economy. The delegation also discussed various issues, including the proposed budget for FY 2024–25, the Finance Act 2024, etc. The President drew the attention of the Minister of State, Ministry of Planning, to the proposed amendment of the Sixth Schedule of the Income Tax Act 2023. He opined that as ICAB produces skilled manpower by imparting Chartered Accountancy Education and is the primary regulator of the profession, it should not be considered a private or profitable organization.
The Hon’ble Minister of State was also apprised that ICAB needs to undertake a number of development projects including academic campus, female hostel to accommodate students coming from rural areas to study Chartered Accountancy in Dhaka for a number of years after graduation or post-graduation. It was mentioned by the Chief Executive Officer of ICAB that the Institute had submitted Development Project Proposal (DPP) and Technical Assistance Project Proposal (TAPP) separately for infrastructural and institutional development of the ICAB as Bangladesh needs chartered accountants in a larger number to serve the growing diversified business and economy;
ICAB delegates thanked the Hon’ble Minister of State, Ministry of Planning, GoB for giving the opportunity to pay courtesy call on him. They sought cooperation from Ministry of Planning to strengthen and improve the accounting and auditing profession. The delegation wished him all-out success in the Ministry.
In response, Mr. Md. Shahiduzzaman Sarker MP, Hon’ble Minister of State, Ministry of Planning, GoB lauded the role of ICAB whose members are playing a great role for the betterment of the economy. He assured ICAB delegates of full cooperation from the Ministry to the institute in the coming days. He also positively responded to the proposal of ICAB inviting him as the Chief guest to Participate in Programs.