The New Nation - Internet Edition

UNB, Dhaka

President Professor Dr. Iajuddin Ahmed Sunday called upon the accountancy professionals to uphold the actual balance-sheet of country's larger financial and business establishment in order to increase government income.

"As you know, with the pace of globalization and emerging of Corporate Governance, the role of professional accountants are of paramount importance in keeping country's accountancy and auditing in the right track," he said addressing the 17th convocation of the Institute of Chartered Accountants of Bangladesh (ICAB) at Hotel Sonargaon.

Chaired by ICAB president M Farhad Hussain, the function was also addressed by Dhaka University vice-chancellor Prof Dr SMA Faiz and ICAB vice president Jamaluddin Ahmed.

Mentioning the social role and corporate social responsibility of the members of the accountancy profession, President Iajuddin said the accountancy and auditing profession are very closely linked with the economic scenario of a country.

"Through an integrated financial statement, prepared by professional accountants, we can get the picture of income and expenditure as well as assets and liabilities of an entity for decision making."

He hoped that the members of the ICAB, imbued with the sense of patriotic zeal, would demonstrate the highest ethical values in their respective field keeping national interest above everything else.

"You have completed an important chapter in your life and you are on the threshold of a brave and challenging new world… I'm confident, you are fully equipped to meet the challenges of the time," he said.

The President said since its inception, the ICAB has been playing important role for developing the professional efficiency of accountancy and auditing in the country. It also helps to streamline the mechanism of preparing financial statements of the private and public entities in Bangladesh.

"I have been informed that the efforts of the ICAB to bring about professionalism in the accountancy and auditing profession have always been held in high esteem by the local bodies and the international communities."

He said it is expected that compliance to the accounting and auditing Standards and Codes would equip the members of the ICAB to face the challenges of globalization.

He hoped that the chartered accountants would demonstrate the highest degree of personal honesty and integrity, social responsibility and commitment in discharging their duties imbued with the sense of patriotism.

The President advised the chartered accountants to try to groom and edify themselves as rational human beings and a productive member of the society. "Let us put our best endeavors to make our beloved country happy and prosperous," he said.

Later, the President distributed certificates among the recipients of Chartered Accountant Certificates.