The central bank said each approved CMA firm may undertake auditing assignments for up to three banks in a given financial year
File photo of Bangladesh Bank/BSS
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File photo of Bangladesh Bank/BSS
Bangladesh Bank has enlisted seven Cost and Management Accountant (CMA) firms to conduct audits of applications for export subsidies and cash incentives, according to a central bank directive issued today (1 April).
In a circular issued to all authorised dealer banks, the central bank said each approved CMA firm may undertake auditing assignments for up to three banks in a given financial year.
The seven approved CMA firms are A. Hannan & Co, Hossain & Co, Mujibur Rahman & Co, Podder & Associates, Safe‑Q Associates & Co, Saifur Enayet & Associates and SAM & Associates.
Previously, only chartered accountant firms were permitted to carry out these audits.
Bangladesh Bank expects the move will help ensure greater transparency in the distribution of export incentives and speed up the audit process.
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