Thrust on 'ethics, freedom for clear fiscal statements'

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FE Report
Speakers at a seminar Thursday said codes of ethics and independence are imperative for transparent financial statements.
The Continuous Professional Development (CPD) seminar on 'Ethics and Independence in Accountancy Profession' was organised by the Institute of Chartered Accountants of Bangladesh (ICAB) at the auditorium of Chartered Accountant Bhaban in the city.
South Asian Federation of Accountants (SAFA) President Sheikh A Hafiz FCA presided over the seminar where Centre for Development Research for Bangladesh (CDRB) Chairman Dr Mizanur Rahman Shelly was present as chief guest.
In his speech, Mr Shelly referred to the causes of ongoing global financial crisis and opined that professional accountants should comply with the principles of ethics and exercise independent opinion while reporting on financial statements audited by them.
He emphatically gave importance on disclosure by a professional accountant which he termed very important to protect the interest of the investors and stakeholders.
Dr Shelly was strongly of the opinion that ICAB members should practice the principles of ethics, independence and governance to help build sound and steady economy of the entities.
ICAB President Jamaluddin Ahmed FCA in his speech highlighted the various conceptual features of ethics and independence pronounced by the International Federation of Accountants (IFA), International Accounting Standards Committee (IASC) and International Accounting Standards Board (IASB).
He made a clarion call to ICAB members to comply with the accounting and auditing standards and practice professional ethics and independence to strengthen and consolidate the accounting profession in order to meet commitment and serve and protect public interest.
Council member and former ICAB president Md Humayun Kabir FCA presented the keynote paper on the occasion.