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Search date: 24-10-2018 Return to current date: Click here

Businesses should submit identical financial statements Says ACC chief

FE Report | October 24, 2018 00:00:00


Business firms should submit identical financial statements to banks, income tax authority and other government entities, Anti-Corruption Commission (ACC) chairman Iqbal Mahmood said on Tuesday.

He also called on the businesses to engage the same audit firm to prepare the financial statements of a company for a  particular fiscal year.

The ACC chairman made the remarks while talking to reporters at the ACC headquarters at Segunbagicha in the city.

Mr Mahmood said the ACC received complaints that some unscrupulous companies engage audit firms to make dissimilar financial statements and submit those to different organisations.

The financial statement submitted to the income tax authority is not similar to the one submitted to the Bangladesh Securities and Exchange Commission (BSEC), he said.

Even, in some cases, the statements submitted to the banks for borrowing money contain different information, he added.

The ACC chief also said the commission has been investigating the allegations and, if proved true, stern action would be taken against the organisations responsible.

Replying to a query about the allegation of money laundering against former Appellate Division judge Justice Md Zainul Abedin, he said, "The ACC has sent a Mutual Legal Assistance Request (MLAR) to the USA seeking information about the money laundering, but it is yet to receive such information."

He, however, said there has been some progress at the enquiry level and, if needed, the investigation official can summon him for interrogation.

Justice Zainul Abedin was the head of the one-man judicial commission formed by the then four-party alliance government to investigate the August 21 grenade attack on an Awami League rally in 2004.

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