A training course on IFRS organised by the Institute of Chartered Accountants of Bangladesh (ICAB) has begun at ICAB auditorium in the city on Friday. Dr. Atiur Rahman, governor of Bangladesh Bank, inaugurated the training course as the chief guest, says a press release.
Jamal Uddin Ahmad, past president of ICAB and conducted the course as session chairman.
Parveen Mahmud, president of ICAB said that the as a statutory self regulatory body of accounting professionals in Bangladesh, ICAB bears the big responsibility of upgrading our local accounting and financial reporting standards and practices as early as feasible to those required by International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS).
Dr Atiur Rahman, governor of Bangladesh Bank in his speech said that investment and output activities in Bangladesh have picked up sharply in FY11, with our economy stepping on to higher growth trajectory, on track to reach the middle income country group threshold (GNI of USD 996 per capita) by 2015. Sustaining this growth momentum needs attracting substantial new foreign equity and debt inflows in our investment projects.
He also said, for investment projects in Bangladesh to attract joint venture partners and lenders from abroad, or for our corporate to attract equity subscriptions from abroad, their financial statements and disclosures will need to earn credence and confidence of foreign lenders and equity investors. Clearly, this will require accounting and auditing standards and practices closely conforming to IAS and IFRS.
Vice Presidents and Secretary, ICAB also spoke at the ceremony.
-With The News Today input
