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Implementation of National Accounting as well as Cost Accounting Standards are also used with other necessary steps in order to regulate the profession. The ultimate goal of this is to develop Bangladesh's natural and human resources to enrich the shared future of the country and to ensure common welfare.
The Institute of Cost and Management Accountants of Bangladesh (ICMAB) is an institution dedicated to cost and management accounting education and research in Bangladesh. It is managed as an autonomous professional body under the Ministry of Commerce .
[4] [5] It was created through the passage of Financial Reporting Act 2015 in the parliament of Bangladesh. [ 6 ] In 2020 it signed agreements with International Valuation Standards Council , International Federation of Accountants , and IFRS Foundation .
Accounting Standards Committee of Germany (ASCG, in German: DRSC) [4] India. National Advisory Committee on Accounting Standards with the aide and advice of Institute of Chartered Accountants of India and Institute of Cost Accountants of India; Iran. Accounting Standards Board [5] Malaysia. Malaysian Accounting Standards Board [6] Malta ...
The Financial Reporting Act 2015 (known as FRA 2015) is an act created by the Bangladesh National Assembly. The act was passed on September 6, 2015, in order to follow the accountability and transparency of the financial reporting procedures in the country. On September 9, 2015, the act was officially published by the Government of Bangladesh. [1]
The International Accounting Standards Committee (IASC) was founded in June 1973 in London at the initiative of Sir Henry Benson, former president of the Institute of Chartered Accountants in England and Wales. The IASC was created by national accountancy bodies from a number of countries with a view to harmonizing the international diversity ...
The Institute of Chartered Accountants of Bangladesh (ICAB) is the national professional accountancy body and research institute in Bangladesh. [ 2 ] [ 3 ] It is the sole organisation in Bangladesh with the right to award the Associate Chartered Accountant designation.
The Government agencies in Bangladesh are state controlled organizations that act independently to carry out the policies of the Government of Bangladesh. The Government Ministries are relatively small and merely policy-making organizations, allowed to control agencies by policy decisions.