A delegation from the Institute of Cost and Management Accountants of Bangladesh (ICMAB) led by its President Md Abdur Rahman Khan called on Industries Secretary Zakia Sultana at her office in Dhaka on Wednesday.
The ICMAB president apprised the secretary about the role of cost and management accountants in enterprise management, cost control, decision making and performance evaluation of business and industrial sectors, according to a press release.
Alongside the discussion on matters of mutual professional interest, the ICMAB president 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 for visible and invisible losses, efficiencies, wastages etc.
He also urged upon the need for implementing cost audit in different sectors, in accordance with the decision of the government publication through a gazette notification, read the release.
The secretary gave the assurance of implementing the decision of the government with regard to cost audit. She also sought the support of ICMAB to make its sick industries profitable.
ICMAB Treasurer Md Akhtaruzzaman, Council member SM Zahir Uddin Haider and Executive Director Muhammad Abdullah were present at the meeting.
