The Institute of Cost and Management Accountants of Bangladesh (ICMAB) has held a Publication Ceremony of Bangladesh Cost Accounting Standards (BCAS) Volume-II on December 14, 2016 at ICMAB Ruhul Quddus Auditorium, Dhaka.
Mr. Nazimuddin Chowdhury, Secretary, Energy & Mineral Resources Division, Government of the People's Republic of Bangladesh graced the occasion as Chief Guest. Mr. M. Abul Kalam Mazumdar FCMA, Chairman of the Cost Accounting and Financial Reporting Standards Committee (CAFRSC) and former President of the Institute in his welcome address mentioned that Cost Accounting standards are the guiding principles that would lead the Cost Accountants towards successful professional practice through implementation of cost accounting system and cost audit. In Bangladesh, order to ensure uniform application of cost accounting system and assure quality cost audit the need for Cost Accounting Standards was felt long. In order to fulfill this need ICMAB has issued its first volume of ten Cost Accounting Standards in 2014.On the occasion the honourable Chief Guest has issued the second volume of standards – that consists of thirteen more standards. This has made the total volume of standards in issue to twenty-three. He also urged for introduction of cost audit in all the enterprises of oil sector (BPC).
President of ICMAB Mr. Arif Khan, FCMA presided over the program. Mr. Md. Abdur Rahman Khan FCMA, Secretary ICMAB offered vote of thanks. A good number of members and Students of the Institute attended in the Program.