Bangladesh Securities and Exchange Commission has published a panel of auditors for the listed firms to prevent manipulation in the financial statements.
From next month it will be mandatory for all listed companies to have their financial statements audited by only the commission-assigned panel, said the regulator in a statement recently.
BSEC announced 36 chartered accountants firms eligible for auditing financial statements of listed securities.
The panel of auditors are A Qasem, A Wahab, ACNABIN, Ahmad & Akhtar, Ahmed Mashuque, Ahmed Zaker, ARTISAN, Ashraf Uddin, Aziz Halim Khair Choudhury, G Kibria, Hoda Vasi Chowdhury, Howlader Yunus, Hussain Farhad, Islam Aftab Kamrul, Islam Quazi Shafique, KM Alam, KM Hasan, Khan Wahab Shafique Rahman, MJ Abedin, MABS & J Partners, Mahefi Huq, Malek Siddiqui Wali, Mash Muhith Haque, Nurul Faruk Hasan, Octokhan, Pinaki, Rahman Mostafa Alam, Rahman Rahman Huq, SF Ahmed, SK Barua, Shafiq Basak, Shahadat Rashid, ShirazKhan Basak, Syful Shamsul Alam, Toha Khan Zaman and Zoha Zaman Kabir Rashid.
Earlier, the BSEC amended its 2011 orders and said the issuer of listed securities must require its financial statements audited by any firm of chartered accountants which is in the panel of the commission.
The move came as a number of companies had submitted manipulated financial statements to the regulator.
In October, the BSEC fined directors of Shahjibazar Power Company Tk10 lakh each for disclosing inflated earnings per share in the company’s quarterly reports.
In the third quarterly report, Shahjibazar Power had announced Tk2.54 as EPS for the June-March period. But the BSEC found the EPS to be Tk1.48 after a special audit into the company’s financial reports.
United Power Generation and Distribution Company was also penalised for furnishing false information in financial statements, which were submitted with initial public offering application.
