New auditing software launched to strengthen CA firms

A new and state-of-the-art auditing software has been launched for helping accounting and auditing professionals of the country.

The modern software allows a chartered accountant to carryout auditing efficiently and adopt digital methods for improving the quality of audit, shorten audit cycle time as well as reduce errors and damages, speakers at a programme said on Sunday.

The Institute of Chartered Accountants of Bangladesh organised the virtual programme to inaugurate audit practice software in Bangladesh under the programme titled "Implementation and Dissemination of Audit Practice Software for CA Firms in Bangladesh" on Sunday.

Posts and telecommunications minister Mustafa Jabbar attended the virtual programme as the chief guest.

ICAB President Mahmudul Hasan Khusru delivered the welcome speech at the programme. Vice President of ICAB and also the chairman of the software project, Maria Howlader, presented a speech on the introduction of audit software in Bangladesh.

Globally, chartered accounting professionals have embraced software-based audit practice and similar development taking place in Bangladesh right now, the ICAB president said.

There is no doubt that digitalising audit practices will enhance quality of audit and boost client confidence in firms, he added.

He said that the year 2021 is the year of automation for ICAB and various functions are currently being brought under automation.

Maria Howlader said that the software would enhance the capacity of ICAB members in performing audit based on International Standards on Auditing.

The software-based audit system will reduce the hassle of keeping records of audit documents as well, she added.