No interference in CAs' role, says FRC chief

There will be no interference in the professional independence of chartered accountants (CAs), Financial Reporting Council (FRC) Chairman Md Sajjad Hossain Bhuiyan said on Saturday.
FRC, however, will closely monitor whether CAs are performing their professional duties properly.
He said these while addressing the 22nd convocation of The Institute of Chartered Accountants of Bangladesh (ICAB) at a hotel in the city.
Indicating a change in the nature of the regulatory role of the FRC, he said, "Instead of direct regulation or control, we want to move towards 'de-regulation' or relaxation of control, which is also wanted by the Finance Minister and Finance Advisor. Your professional independence will be kept completely independent."
Referring to the government ambition of becoming a trillion dollar economy by 2034, he said, "To achieve this goal, the country's revenue must be increased. And revenue depends entirely on accurate financial reports."
The FRC Chairman reminded the CAs of their important role in creating an investment environment by strengthening the capital market.
In his address as the chief guest, Zahir Uddin Swapon, Minister for Information and Broadcasting, said that the world entered a new technology-driven ecosystem, where almost all the work of the corporate system is dependent on technology. In this situation, he warned that the potential of artificial intelligence (AI) should be taken into account as well as its risks.
Prof Salimullah Khan, teacher at North South University, delivered the Convocation Speech.
In his address, he described Chartered Accountants as key intellectual contributors to economic and social systems, emphasizing their broader role beyond technical functions.
ICAB President NKA Mobin, in his foreword, highlighted ICAB's longstanding commitment to upholding global standards in professional education and serving the public interest since its establishment in 1973.
The Convocation marked a significant milestone for the CAs and their families, recognizing years of dedication, discipline, and perseverance.
The ceremony concluded with a call for the new Chartered Accountants to serve the nation with commitment, contribute to economic progress, and uphold the values of the profession. A total of 276 graduates received certificates at the convocation.
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