UK institute to offer professional degree to cost accountants

The Institute of Cost and Management Accountants of Bangladesh (ICMAB) has teamed up with the UK's Chartered Institute of Public Finance and Accountancy (CIPFA) to offer advanced professional degree to its members, to improve their knowledge in public financial management.
The two professional bodies signed a Memorandum of Understanding (MoU) at a ceremony at the ICMAB office in the city Sunday.
Mohammed Salim, FCMA, President of ICMAB, and Mike Owen, President of CIPFA, UK signed the MoU on behalf of their respective institutes to form the strategic alliance.
Dr Muhammad Abdur Razzaque, chairman of the parliamentary standing committee on Ministry of Finance (MoF) and former food and disaster management minister, was the chief guest while Hedayetullah Al Mamoon, senior secretary of the Ministry of Commerce was the special guest at the event.
Officials said the MoU will help pave the way for the development of public sector membership in the country.
CIPFA formed the strategic alliance with ICMAB to provide its professional degree to the cost accountants of Bangladesh.
CIPFA is a professional accountancy body in the UK operating under Royal Charter that focuses on finance globally dealing with public services policies.
Besides the MoU, 10 Bangladesh Cost Accounting Standards (BCAS) were unveiled, and a seminar on "Working together to improve PFM: CIPFA's Whole System Approach to Public Financial Management" was held at the programme.
The ten BCAS were developed under the supervision of M Abul Kalam Mazumdar FCMA, chairman of Cost accounting and financial reporting standards committee and past president of ICMAB.
At the seminar, Mike Owen, president of CIPFA, and Adrian Pulham, its executive director, presented a technical paper.
Mr Salim, FCMA delivered the welcome address while ICMAB Secretary Jamal Ahmed Choudhury, FCMA, gave vote of thanks.  
Muzaffar Ahmed, FCMA, chairman of the seminar and conference committee, among others, spoke on the occasion.
Mr Razzaque appreciated the ICMAB for its contribution in the accountancy profession.
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