Md. Abdur Rahman Khan, Chairman of the National Board of Revenue (NBR), underscored the need of establishing a strong and efficient Financial Reporting and Regulatory Framework for both the public and private sectors.
This, he noted, is crucial for creating a robust governance system that ensures transparency and accountability in the country’s financial management.
Addressing the inaugural discussion on ‘Financial Reporting and Regulatory Framework: Public and Private Sector’as the Chief Guest, he emphasized that financial transparency is a collective responsibility. It goes beyond the NBR and taxpayers, and should be regarded as a national duty to combat corruption and pave the way for a prosperous nation.
The Inaugural discussion, held at the Radisson Blu Dhaka Water Garden on Tuesday was organized by Finance Division, Ministry of Finance in collaboration with the World Bank aimed to open discussions on the third report of the Observance of Standards and Codes—Accounting and Auditing (ROSC A&A) for 2025 using updated indicators.
The NBR Chairman pointed out the challenges faced by State-Owned Enterprises (SOEs), autonomous bodies, and statutory organizations in adhering to international accounting standards due to inadequate infrastructure.
He emphasized the need for academic excellence and the development of robust systems, supported by skilled professionals, to ensure effective financial reporting in preparation for the next ROSC exercise.
Presided over by Bilquis Jahan Rimi, Additional Secretary (Budget-1) and National Program Director, Strengthen Public Financial Management Program to Enable Service Delivery (SPFMS), Finance Division, the function was addressed by Marga Peeter, EU Deligation Project Manager Union Delegation to Bangladesh as Special Guest Suraiya Zannath, Lead Governance Specialist (Financial Management), the World Bank as the key note speaker. In a significant move towards improving financial reporting and regulatory frameworks, Bilquis Jahan Rimi focused on both the public and private sectors, underscores Bangladesh's commitment to fostering a financial ecosystem that prioritizes transparency, accountability, and resilience.
She said, the Government is working towards enhancing financial reporting and regulatory frameworks, particularly in the public sector.
Marga Peeters, Program Manager, EU Delegation to Bangladesh said, emphasized on raising awareness among SOEs about the SOE monitoring cell which can aid their compliances with financial reporting requirements and some continue to experience audit package.
The presentation by Suraiya Zannath focused on the Financial Reporting and Regulatory Framework, highlighting the World Bank and IMF’s Report on the Observance of Standards and Codes – Accounting and Auditing (ROSC A&A). This initiative assesses countries' compliance with international accounting and auditing standards to enhance financial systems, transparency, and private sector growth.
