Making DVS efficient

The Document Verification System (DVS) is now integrated with the RJSC name clearance portal and the Electronic Government Procurement (e-GP) system. So, company and firm information will be inducted into DVS from RJSC system. When an auditor seeks company information, it will be available online. Thus, integration with the RJSC Name Clearance Portal is a significant advancement. Again, integration with the Electronic Government Procurement (e-GP) system is another achievement of the DVS. From now on, DVS will be used in the e-GP system to verify audit reports and audited financial statements of the tender participating entities.
All these measures will increase transparency of the system and reduce the scope of fraudulence. Even the authorities will be held accountable if they try to take undue advantage from tendering. It will also make the DVS efficient, as introduced by the Institute of Chartered Accountants of Bangladesh (ICAB). The main goal of DVS is to ensure a company's single and unique audited financial statement.
It is necessary to ensure uniformity, originality, and transparency at all levels. The software helps regulators like the Bangladesh Bank and the Bangladesh Securities and Exchange Commission (BSEC) to enhance their supervision. Now, the integration with multiple government agencies will make it stronger. Awareness building on the integration should also be there. So, the regulators and market players need to work together to improve DVS further.

Rajib Khan
Dhaka