The Bangladesh Securities and Exchange Commission on Tuesday removed audit firm ATA Khan and Co Chartered Accountants from its auditors’ panel for continuing to audit a firm’s financial statements beyond three years, violating rules.
The market regulator on the day also revised its auditor panel, declaring 38 chartered accountants firms eligible for auditing financial statements of listed securities.
ATA Khan and Co, which audited the financial statements of Generation Next for more than three years in violation of the securities rules, also failed to include the violation into its audit option.
In addition, the commission also sent a letter to the Institute of Chartered Accountants of Bangladesh to take action against the firm.
The commission at the meeting also asked Ali Securities Ltd to pay outstanding dues of 14.65 lakh to its client Nowsher Ahmed within 30 days.
The regulator also uncovered that the authorised representative of the brokerage house, Sayed Tanvir Ahmed, provided a forged portfolio statement to Nowsher.
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