Aziz links transparent financial audit report to good corporate governance
Sunday, 9 December 2007
As some companies, banking and non-banking financial institutions and NGOs received good-performance recognition, Finance Adviser of the caretaker government Dr Mirza Azizul Islam Saturday said transparent financial audit report assures proper corporate governance, reports UNB.
"Based on the report, investors buy company shares through which the companies raise their funds… Thus the corporate governance can be ensured by the transparent financial audit report," he said at the function marking the 7th ICAB National Awards for Best Published Accounts and Reports 2006 Competition held at a city hotel Saturday night.
The Finance Adviser highly appreciated the ICAB process of evaluation of the Published Accounts and Reports and expressed the hope that it would have a positive impact on ensuring transparency, accountability and good governance among the entities.
In the Financial Sector (Banking category) Prime Bank, Dutch Bangla Bank and Dhaka Bank were adjudged 1st, 2nd and 3rd respectively, while Bank Asia and South East Bank were awarded with a Letter of Recognition.
In the Financial Sector (Non-Banking category) Prime Finance and Investment, IDLC and Lanka-Bangla Finance were evaluated 1st, 2nd and 3rd respectively.
In the Non-Financial Sector (Manufacturing category) Square Pharmaceuticals, Berger Paints Bangladesh and Singer Bangladesh were evaluated 1st, 2nd and 3rd respectively and ACI and GlaxoSmithkline Bangladesh awarded with a Letter of Recognition.
In the NGOs/MFIs Sector, BRAC, Sajida Foundation and Buro were evaluated 1st, 2nd and 3rd respectively. In the sector of public entities, the Investment Corporation of Bangladesh stood 1st.
The Institute of Chartered Accountants of Bangladesh (ICAB), the regulatory body of the accountancy profession in the country, through its Review Committee for Published Accounts and Reports (RCPAR), evaluates the published accounts and financial statements of the listed companies and NGOs/MFIs.
"Based on the report, investors buy company shares through which the companies raise their funds… Thus the corporate governance can be ensured by the transparent financial audit report," he said at the function marking the 7th ICAB National Awards for Best Published Accounts and Reports 2006 Competition held at a city hotel Saturday night.
The Finance Adviser highly appreciated the ICAB process of evaluation of the Published Accounts and Reports and expressed the hope that it would have a positive impact on ensuring transparency, accountability and good governance among the entities.
In the Financial Sector (Banking category) Prime Bank, Dutch Bangla Bank and Dhaka Bank were adjudged 1st, 2nd and 3rd respectively, while Bank Asia and South East Bank were awarded with a Letter of Recognition.
In the Financial Sector (Non-Banking category) Prime Finance and Investment, IDLC and Lanka-Bangla Finance were evaluated 1st, 2nd and 3rd respectively.
In the Non-Financial Sector (Manufacturing category) Square Pharmaceuticals, Berger Paints Bangladesh and Singer Bangladesh were evaluated 1st, 2nd and 3rd respectively and ACI and GlaxoSmithkline Bangladesh awarded with a Letter of Recognition.
In the NGOs/MFIs Sector, BRAC, Sajida Foundation and Buro were evaluated 1st, 2nd and 3rd respectively. In the sector of public entities, the Investment Corporation of Bangladesh stood 1st.
The Institute of Chartered Accountants of Bangladesh (ICAB), the regulatory body of the accountancy profession in the country, through its Review Committee for Published Accounts and Reports (RCPAR), evaluates the published accounts and financial statements of the listed companies and NGOs/MFIs.