BSEC eases financial audits for interim cash dividends

The regulatory body of capital market Bangladesh Securities and Exchange Commission (BSEC) has relaxed the obligation to audit marginal financial statements of companies listed on the stock exchange in the form of interim cash dividends.

The commission took this decision after reviewing applications of investors and companies.

The information was disclosed through a press release on Sunday signed by BSEC Executive Director and Spokesperson (current responsibilities) Mohammad Rezaul Karim.

The statement said: if the other securities complying with the law and the financial statements of the respective quarters experience substantial loss (if any) or unearned expenses or provisions are reserved, the latest audited financial statements of the listed companies will be deducted from the declared profit.

In that case, there will be no obligation to audit the relevant marginal financial statements, added the press release, saying he decision will take effect immediately.

sr/teb