Commerce Minister Tofail Ahmed, MP inaugurated the modernized Central Library of the Institute of Chartered Accountants of Bangladesh at a program at CA Bhaban in the city on Monday, 20 April 2015.
ICAB President Masih Malik Chowdhury FCA appraised the Minister about the Institute’s activities and recent progress in professional education, training, quality assurance, professional conducts & ethics at a meeting at ICAB Council Hall where ICAB Vice Presidents AF Nesaruddin FCA, Kamrul Abedin FCA, Nasim Anwar FCA, Council Member & Past Presidents and high officials of ICAB were present.
The Minister said, trade and business has increased many folds where the role of CAs is considered very important. CAs having efficiency and capability could ensure transparency and accountability in our trade and commerce, he said.
The government has taken initiatives to bring diversifications in export basket. It has laid emphasize on five items like IT, leather, pharmaceuticals, jute and furniture to increase export volume for earning more foreign currencies, Mr. Tofail said.
ICAB has Library in Dhaka and Chittagong where a total number of 20500 copies of books , manuals, reference books, journals, periodicals and research materials, etc are available for the students & its Members.
ICAB qualified Chartered Accountants can be the Member of the Institute of Chartered Accountants of England & Wales (ICAEW) after successful completion of three papers out of fifteen in advanced stage. They have the opportunity to apply for UK practicing certificate. ICAB Members also can be member of the Institute Of Certified Public Accountant in Ireland (CPA Ireland) under a Mutual Recognition Agreement (MRA).
ICAB is a prime Institute of the country for regulating and promoting the profession of accountancy in Bangladesh, statutorily empowered by the Bangladesh Chartered Accountants Order -1973(Presidential Order No-2) and relentlessly working to maintain integrity, transparency and accountability towards professionalism.
ICAB has collaboration with International accounting bodies like International Federation of Accountants (IFAC), Confederation of Asian and Pacific Accountants (CAPA) and South Asian Federation of Accountants (SAFA). In recent years ICAB had been highly appreciated by IFAC for its continued commitment and compliance with Statement of Membership Obligations (SMOs).
Only ICAB in Bangladesh is empowered for development and publication of Bangladesh Financial Reporting Standards (BFRS), Bangladesh Accounting Standards (BAS) and BFRS for SMEs under an agreement with the International Financial Reporting Standards (IFRS) Foundation. Besides, The Institute is working closely with Government agencies, OCAG, Regulatory Bodies, World Bank, ADB and other stakeholders like Business Communities, Bankers, and NGO etc.
ICAB President expressed his gratitude for continuous support & cooperation from the Government, in particular from the Ministry of Commerce, Ministry of Finance, Ministry of Law, Justice and Parliamentary affairs, other regulatory bodies and stakeholders to ICAB’s efforts towards sustainable development of the economy of the country.