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BSEC drops 10 CA firms from new auditors’ panel

Staff Correspondent
31 May 2023 00:00:00 | Update: 31 May 2023 00:09:38
BSEC drops 10 CA firms from new auditors’ panel

In line with a move to thwart any financial irregularities, the stock market regulator – Bangladesh Securities and Exchange Commission (BSEC) – on Tuesday revised its panel of auditors for the audit operations of the listed firms.

As per the newly published chart of eligible auditors, the securities regulator did not include 10 audit firms to the new list which were in its previous list.

Meanwhile, the BSEC added nine fresh firms to the new catalogue, and the new announcement is expected to come into force with immediate effect.

The 10 firms were removed mainly because of their non-compliance with securities laws, as well as their alleged irregularities with audit operations, several BSEC sources with knowledge of the matter said.

From now on, the dropped auditors will no longer be allowed to audit the financial reports of any listed companies.

The number of authorised audit firms has now come down to 36; which was 37 in the previous list.

Naming 37 chartered accountant firms, the BSEC had published its previous list in late July 2020.

They auditors are mandatory for all listed companies to have their financial statements audited by the commission-assigned panel, the regulator said.

The CA firms which were dropped from the chart are A Haque & Co, Ahmed Zaker & Co, Artisan, Hussain Farhad & Co, Islam Aftab Kamrul & Co, MABS & J Partners, Malek Siddiqui Wali, Nurul Faruk Hasan & Co, Octokhan, and Shiraz Khan Basak & Co and Chartered Accountants.

The new panel of auditors are, as per the BSEC’s revised list are A Qasem & Co Chartered Accountants, Ahsan Manzur & Co, Ahmed Mashuque & Co, Anil Salamidris & Co, A Wahab & Co, Acnabin Chartered Accountants, Ashraf Uddin & Co, Aziz Halim Khair Choudhury, Basu Banerjee Nath & Co, FAMES & R, G Kibria & Co, Habib Sarwar Bhuiyan & Co, Hoda Vasi Chowdhury & Co, and Howladar Yunus & Co.

The list also includes Islam Quazi Shafique & Co, Islam Jahid & Co, K M Alam & Co, KM Hasan & Co, Kazi Zahir Khan & Co, Khan Wahab Shafique Rahman & Co, Mahamud Sabuj & Co, M J Abedin & Co., MM Rahman & Co, Mahfel Huq & Co, Masih Muhith Haque & Co, M Z Islam & Co, Pinaki & Company, Rahman Mostafa Alam & Co, Rahman Rahman Huq, SF Ahmed & Co, Shafiq Basak & Co, Syful Shamsul Alam & Co, Snehasish Mahmud & Co, S K Barua & Co, Toha Khan Zaman & Co, and Zoha Zaman Kabir Rashid & Co and Chartered Accountants.

The BSEC also amended its 2011 orders and said the issuer of listed securities must require its financial statements be audited by any firm of chartered accountants which is in the panel of the commission.