Only 23 audit firms can audit the financial reports of listed banks and non-bank financial institutions as the Bangladesh Bank has recently dumped 36 audit firms from its auditor list.
The central bank on December 17 published a list of 41 audit firms eligible for auditing the financial reports of listed and nonlisted banks and non-bank financial institutions.
There are 37 eligible audit firms on the auditors’ panel set by securities regulator the Bangladesh Securities and Exchange Commission for auditing the financial accounts of listed companies.
The central bank did not allow 14 audit firms which are on the BSEC auditor panel. Therefore, only 23 chartered accountant firms can now audit listed banks and NBFIs.
There are 30 listed banks and 23 NBFIs listed on the stock exchange.
Earlier in 2017, the central bank published a list of 75 eligible audit firms from a total of 173 firms registered under the Institute of Chartered Accountants of Bangladesh.
As per the latest audit firm list of the BB and the BSEC, the CA firms eligible for auditing listed banks and NBFIs are A Qasem, A Wahab, ACNABIN, G Kibria, Hoda Vasi Chowdhury, Howlader Yunus, Hussain Farhad, Islam Aftab Kamrul, Islam Quazi Shafique, KM Hasan, Kazi Zahir Khan, Khan Wahab Shafique Rahman, MJ Abedin, MM Rahman, MABS & J Partners, Masih Muhith Haque, Nurul Faruk Hasan, Octokhan, Rahman Mostafa Alam, Rahman Rahman Huq, SK Barua, Toha Khan Zaman and Zoha Zaman Kabir Rashid.
A Hoque & Co, Ahmed Zaker, ARTISAN, Ashraf Uddin, Aziz Halim Khair Choudhury, FAMES & R, KM Alam, Mahfel Huq, Malek Siddiqui Wali, Pinaki & Company, SF Ahmed, Shafiq Basak, Shiraz Khan Basak and Syful Shamsul Alam which are on the BSEC’s auditors panel cannot audit listed banks and NBFIs as the central bank has dropped them from the list of audit firms for financial companies.
Want stories like this in your inbox?
Sign up to exclusive daily email
More Stories from Banking