Commerce Secretary Tapan Kanti Ghosh has urged the auditors to prepare a single financial statement for a company to bring transparency and to help the government in realising revenues.
The commerce secretary came up with the statement while addressing a training workshop, titled ‘Finance for Non-Finance Professionals', for the journalists in the capital.
The Institute of Chartered Accountants of Bangladesh (ICAB) and the Economic Reporters Forum (ERF) organized the event jointly.
ICAB President Mahmudul Hasan Khusru, Vice President Siddharth Barua, Chief Executive Officer Shubhasish Bose, ERF President Sharmeen Rinvy and General Secretary SM Rashidul Islam spoke, among others, on the occasion.
The commerce secretary mentioned that various business houses and corporate firms prepare three to four types of financial statements to take various kinds of illegal facilities.
The companies submit separate financial statements before the National Board of Revenue (NBR), Bangladesh Bank and the Bangladesh Securities and Exchange Commission (BSEC) for their convenience.
This tendency creates a hindrance in realising revenues, he mentioned.
Tapan called upon the authorities concerned to prepare only one financial statement on the whole to overcome these problems.
He noted that the country is now still behind in comparison to the FY19 due to the COVID-19 pandemic.
“But dynamism has been infused in the economy with the increase of imports and exports. Hopefully, the economy will get back soon to the pre-pandemic situation," he added.
ICAB President Mahmudul Hasan Khusru said that they are working to ensure a single statement for a company and to avoid the tendency of preparing three to four types of audit reports.
"If there is a transparent financial statement, then the country and its people will be benefitted while the revenue collection will also increase," he said.
During the workshop, the commerce secretary inaugurated a project to provide interest-free loans to bright and meritorious CA students and graduates.
The loans will be disbursed considering fulfillment of certain conditions, results of the academic examinations, and the solvency of families.
A total of 60 economic reporters took part in the two-day training workshop.
ICAB Vice Presidents Maria Howlader, FCA and Mohammad Forkan Uddin, FCA, Council Member NKA Mobin, FCA, spoke, among others, at the inaugural ceremony.