The Institute of Chartered Accountants of Bangladesh (ICAB) has reinforced disciplinary actions against its members-cum-Chartered Accountants (CAs) for any kind of professional misconduct, with an aim to ensure transparency in the profession, its officials said.
As part of the measure, a total of 20 CAs were officially given 'reprimands' recently as they were found guilty of professional misconduct, according to the latest publication of ICAB.
Showkat Hossain FCA, president of ICAB, told the FE, "The punitive measures against the members are a continuous process; the actions are taken in order to ensure transparency and accountability in the accounting profession of the country."
 "However, based on the gravity of the professional misconduct, the level and type of punitive measures have varied like reprimands, suspension and even cancellation of the members' certificates etc," Mr Hossain added.
 A high official at ICAB told the FE, "The ICAB, the national professional accountants' body, is committed to showing 'zero tolerance' for any professional misconduct by its members in order to keep the profession transparent and free of any corruption."
Seeking anonymity, the official also requested the authorities concerned to cooperate with the ICAB to identify the 'dishonest' CAs, if they have any, by providing relevant information and evidence to the institute for the greater interest of the profession as well as the country's economy and business.
According to sources, there were allegations regarding quality and due diligence against the 20 CAs in the task of conducting audit of Union Parishads (UPs).
The allegations were brought by the Second Local Governance Support Project (LGSP-2) under the local government division and national project directorate in July last year, they said.
After receiving the allegations, the investigation and disciplinary committee of the ICAB found them guilty for professional misconduct, and finally the ICAB council meeting approved the 'reprimands' for the 20 CAs under the ICAB Bye-laws 2004, officials said.
The 'reprimanded' CAs are AKM Aminul Hoque FCA, partner of A Hoque & Compay, Chartered Accountants, Md Ashraf Uddin Ahmed FCA, partner, M/s Ashraf Uddin and Co., Mohammad Quddus Mian FCA, proprietor of M/s Mohammad Quddus & Co., Md Abdus Salam FCA, proprietor of M/s A. Salam & Co., Anil Baran Das FCA, proprietor of M/s AB Das & Co., Muhammad Idris FCA, proprietor of M/s Idris Muhammad & Co., Md Humayun Bokhteyar FCA, partner of M/s Bokhteyar Humayun & CO., Kazi Zahirul Kabir FCA, partner of M/s Kazi Zahir Khan & Co., Tofazzul Hussain FCA, partner of T. Hussain & Co., Shishir Ranjan Bose FCA, proprietor of M/s S.R. Bose & Co., Md Muzaffar Ahmed FCA, proprietor M/s M. Ahmed & Co., Abul Kashem FCA, partner of M/s Rahman Kashem & Co., Md Anisur Rahman FCA, proprietor of M/s Rahman Anis & Co., Hiralal Barua FCA, partner of M/s Saha & Co., Mian Muhammad Shaheedullah FCA, partner of M/s Muhammad Shaheedullah & Co., Md Abdul Jalil Mian FCA, partner of M/s Alam Chowdhury Mostafa & Co., Ata Uddin Khan FCA, partner of Ata Khan & Co., Md Shafiqul Islam FCA, partner of M/s Shafiq Basak & Co., Sarwar Mahmood FCA, partner of M/s Sarwar Salamat & Co., SM Shafique FCA, partner of M/s Khan Wahab Shafique Rahman & Co., Chartered Accountants.
The ICAB also suspended membership of Maqbul Ahmed FCA (Enrolment No 587), a partner of M/s Ata Khan and Company, Chartered Accountants, for two years from September 1, 2013; later, the HC stayed the suspension order.
The suspension was imposed for Mr Ahmed's professional misconduct under the ICAB Bye-law 130(2)(b) of the ICAB Bye-laws 2004 in view of the allegations made by the Bangladesh Securities and Exchange Commission (BSEC) in respect of the audited financial statements of Delta Spinners Ltd for the year that ended on June 30, 2007.
The High Court (HC) stayed operation of the ICAB order of suspension, according to the institute's publication.
The stay order was issued following a writ petition filed by Maqbul Ahmed.
ICAB \\\'reprimands\\\' 20 CAs
Mohammad Ali | Published: January 30, 2014 00:00:00 | Updated: November 30, 2024 06:01:00
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