Special auditor to look into Intech financials

The Bangladesh Securities and Exchange Commission (BSEC) has appointed a special auditor to look into the financial statements of Intech Limited for the last three years. 

In a letter issued on Monday, the stock market regulator said that chartered accounting firm G Kibria & Company will carry out the audit within the next one month.

According to the letter, the special auditor will ascertain whether the balance sheets and other parts of financial statements presented a true and fair view of assets, liabilities, and equities of the company.

It will also look into whether the listed company disclosed a fair measure of earnings and operating cash flows during the last three years.   

Among other issues, the auditor firm will examine how much corporate cash and other assets are transferred from the company to its former Chairman ATM Mahbubul Alam, his family members and other entities controlled by him.

It will also be checked whether the former chairman has used the company assets for personal benefits and for benefits of other family members.