ICMAB delegation meets FRC Chairman

A delegation of The Institute of Cost and Management Accountants of Bangladesh (ICMAB) led by its President Md. Jasim Uddin Akond FCMA met Financial Reporting Council, Bangladesh (FRC) Chairman Prof. Dr. Md. Hamid Ullah Bhuiyan at his office recently, said a statement.

The ICMAB President apprised the FRC Chairman of the role of Cost and Management Accountants in enterprise management, cost control, decision making and performance evaluation of business and industrial sectors. Besides the discussion on the matters of mutual professional interest, the President of ICMAB also explained the benefit of Cost Audit and its different aspects. He also pointed out that it helps improve performance and production efficiencies by detecting deviations from standards, and reasons of visible and invisible losses, efficiencies, wastage etc.

He also stressed the need for implementing Cost Audit in different sectors, in accordance with the decision of the government published through gazette notification.

Among others ICMAB Past President and Vice President of South Asian Federation of Accountants (SAFA) A K M Delwer Hussain FCMA, Treasurer Md. Ali Haider Chowdhury FCMA and Executive Director Md. Mahbub Ul Alam FCMA were present in the meeting.