Ensure more transparency in financial reporting, auditing: Salehuddin
Business Desk :
Finance Adviser Dr Salehuddin Ahmed on Wednesday urged auditors and chartered accountants to ensure more transparency and integrity in financial reporting and auditing to increase investment.
“Accounting ensures transparency to stakeholders, such as investors and regulatory bodies, by providing access to relevant data for informed decision-making. When investors have clear and reliable information about a country’s business environment, they are more likely to invest in its economy,” he said.
The adviser said this while speaking as the chief guest at the ‘Accounting and Auditing Summit’ at a hotel in the city, reports BSS.
The World Bank and Financial Reporting Council (FRC) jointly organised the event with its theme ‘FRC’s Role in the Economic Governance of Bangladesh.
Bangladesh Bank Governor Dr. Ahsan H. Mansur, Country Director (acting) of the World Bank Dhaka office Soulemane Coulibaly and Chairman of Anti-Corruption Commission (ACC) Dr. Mohammad Abdul Momen were present as special guests.
Finance Secretary Dr. Md. Khairuzzaman Mozumder presided over the event while FRC Chairman Dr Md Sajjad Hossain Bhuiyan delivered the keynote speech.
In his speech, Salehuddin said auditing and accounting are important issues to ensure transparency and accountability.
However, the transparency and honesty of those involved in these activities are the most important issue, he added.
Ahsan H. Mansur also laid emphasis on submitting audit reports of banks with transparency and accurate information for gaining trust both from local and foreign investors.
He mentioned that Risk-Based Supervision (RBS) in all banks will begin from January 1, 2026, to ensure a sound, resilient, and future-ready financial system.
In the keynote speech. Sajjad Hossain Bhuiyan said that as Bangladesh continues its journey toward becoming an upper-middle-income country, the need for resilient institutions and sound governance structures becomes more critical than ever.
“Among those institutions, the Financial Reporting Council stands with a clear mandate to promote integrity, discipline, and transparency in financial reporting, auditing, valuation, and actuarial standards,” he added.
He said FRC wants to encourage all corners to prepare true financial statements with full disclosure to maintain economic or revenue discipline as well as to collect a desirable and genuine amount of income tax and VAT by NBR.
“Untrue financial statements are the basic instrument for tax evasion and avoidance,” he added.
He said that the FRC is committed to playing its full role in advancing the vision of financial governance through steadily, professionally and with unwavering integrity.