National Board of Revenue (NBR) chairman Md Abdur Rahman Khan emphasised the importance of establishing a robust financial reporting and regulatory framework for Bangladesh's public and private sectors.
Speaking at the inaugural discussion on "Financial Reporting and Regulatory Framework: Public and Private Sector," Khan stressed that financial transparency is essential to national governance and economic prosperity.
The event, held at the Radisson Blu Dhaka Water Garden on 5 November, was organised by the Finance Division of the Ministry of Finance in collaboration with the World Bank. It aimed to discuss the third Report on the Observance of Standards and Codes—Accounting and Auditing (ROSC A&A) for 2025, using updated metrics to enhance financial accountability.
Addressing the current challenges, Khan highlighted difficulties faced by State-Owned Enterprises (SOEs) and other statutory bodies in meeting international accounting standards due to inadequate infrastructure. He called for an increased focus on academic excellence and skilled professionals to support effective financial reporting, essential for the upcoming ROSC evaluation.
Presiding over the event, Bilquis Jahan Rimi, Additional Secretary and National Programme Director of the Strengthen Public Financial Management Program, outlined Bangladesh’s dedication to advancing financial governance in both sectors. By adhering to global standards, Bangladesh aims to improve government resource management, elevate service delivery, and achieve greater economic stability and public trust.
Special guest Marga Peeters, Programme Manager of the EU Delegation to Bangladesh, emphasized raising awareness among SOEs about compliance tools such as the SOE monitoring cell, which aids in meeting financial reporting standards. Peeters reiterated the EU's commitment to helping Bangladesh build a fully mature financial framework aligned with the International Financial Reporting Standards (IFRS) and ROSC objectives.
The World Bank’s Lead Governance Specialist, Suraiya Zannath, delivered a keynote presentation on the current financial reporting landscape in Bangladesh. She noted significant reforms achieved through ROSC A&A, including new accounting standards, professional curriculum updates, and the establishment of a Financial Reporting Council, which have improved transparency, particularly in public service and SOEs. Aligning with the Sustainable Development Goals, these advancements support economic growth, resilient infrastructure, and institutional strength.
Representatives from government ministries, professional bodies, and development organizations participated in an open discussion, reflecting a collective commitment to creating a financial reporting framework that promotes transparency and equitable growth across Bangladesh’s economic sectors.
(Source: The daily Sun)
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