Accounting in Bangladesh

From Wikipedia, the free encyclopedia

In Bangladesh, the profession of accountancy developed during the British colonial

period. Today, it is represented by two professional bodies, the Institute of Cost &
Management Accountants of Bangladesh (ICMAB) and theInstitute of Chartered
Accountants of Bangladesh (ICAB).
Chartered Accountants complete their training in practising firms and specialise in
financial accounting, financial audit and tax. CMAs receive particular training in cost
audit, management audit and management accounting, as well as general
accounting and taxation. Both the ICMAB and ICAB are under the administrative
control of the Ministry of Commerce. The Government of Bangladesh considers both
type of professional accountants equal in respect of employment in government
services per circular No.Com/PTMA/AP/2/19/87.[1]
The Generally Accepted Accounting Principles (GAAP) in Bangladesh are based upon
standards set by the ICAB, which has stated its intention to adopt International
Financial Reporting Standards. As of 2013, ICAB has adopted the IFRS as issued by
the IASB, except for IAS 39. and All foreign companies, and domestic companies
listed on the Dhaka Stock Exchange (DSE) and/or the Chittagong Stock
Exchange (CSE) are required to use IFRS.[2][3]

See also[edit]
Sections on British rule in History of Bangladesh and History of Bengal

References[edit]
Jump up^ "Services of CMAs". Institute of Cost and Management Accountants of Bangladesh.
Retrieved 11 October 2015.
Jump up^ David O'Regan (2003). "Bangladesh". International auditing: practical resource
guide. John Wiley and Sons. p. 138.ISBN 0-471-26382-6.
Jump up^ "IFRS Application Around the World Jurisdictional Profile: Bangladesh" (PDF). IFRS.
Retrieved 11 October 2015.

Further reading[edit]
World Bank (2002). "Public Sector Accountants and Auditors". Bangladesh: financial
accountability for good governance. World Bank e-Library. World Bank
Publications. ISBN 0-8213-5137-0.

Response and aid[edit]

The Government of Alberta declared a provincial state of emergency for Fort
McMurray and issued a formal request for assistance from the Canadian Armed
Forces.[14][15] The government and the Department of National Defence signed a
memorandum of understanding on May 4, 2016, detailing required assistance and
use of helicopters for rescue operations.[4] Shortly after, a CC-130
Hercules departed CFB Trenton and helicopters were dispatched to the affected area.
[16]
Alberta also requested assistance from the Government of Ontario, and Ontario
committed to sending 100 firefighters and 19 supervisory staff, coordinated through
the Canadian Interagency Forest Fire Centre.[4] Other provinces across the country
have also offered support.[16]

On May 4, the Alberta government committed to match donations made to the Red
Cross, as well as to donate an additional $2 million as seed money.[17]