A delegation of the Institute of Cost and Management Accountants of Bangladesh (ICMAB) headed by its President Mr. M. Abul Kalam Mazumdar FCMA called on Mr. Md. Abdul Halim, Secretary, Ministry of Industries at his office on Tuesday.
The ICMAB president apprised the Secretary of the role of Cost and Management Accountants in enterprise management, cost control, decision making and performance evaluation of business and industrial sectors.
Besides the discussion on the matters of mutual professional interest, the ICMAB chief also explained about the benefit of Cost Audit and its different aspects. He also pointed out that it helps improve performance and production efficiencies by detecting deviations from standards, and reasons of visible and invisible losses, efficiencies, wastages etc. He also urged upon the need for implementing Cost Audit in different Sectors, in accordance with the decision of the government published through gazette notification.
The Secretary gave the assurance of implementing the decision of the government with regards to Cost Audit. He also sought support of ICMAB to make its sick industries profitable.
Executive Director Mr. Md. Mahbub Ul Alam FCMA was present in the meeting.
-rmc//