Unveiling of ICMAB’s book Model Independent Cost Auditors’ Report

ICMAB has unveiled the Model Independent Cost Auditors’ Report on September 29, 2021 in a colorful ceremony held in ICMAB  Ruhul Quddus Auditorium, ICMAB Bhaban, Dhaka.

Mr. Shah Imdadul Haque, Chairman, Bangladesh Chemical Industries Corporation attended the occasion as Chief Guest while Mr. A.K.M. Delwer Hussain FCMA, President, South Asian Federation of Accountants (SAFA) and Former President, ICMAB was present as Special Guest.

The speakers highlighted different aspects and usefulness of Cost Audit and gave emphasis to implement Cost Audit in the country for the benefit of the business itself. “Cost Audit is not punitive in nature; it is rather suggestive which helps to achieve organizational goals and maximize profits” the speakers opined. They also added that Cost Audit helps enterprise management to analyze cost data to reduce cost and get competitive advantage in the market. It also helps to protect public interest and increase governments VAT and AIT.

The ICMAB Professional consultancy Center was also inaugurated on the occasion. The center is a commercial service provider which will provide consultancy services to both in Private and Public sectors to promote members as well as the practicing firms of the Institute.

The speakers also mentioned “Cost audit is a Statutory Audit is not a mere audit of expenses and financial accuracy; it is an audit of performance and efficiency. It is also an audit of financial morality”.

ICMAB President Mr. Abu Bakar Siddique FCMA presided over the program. Past President and Council Member Mr. Abu Sayed Md. Shaykhul Islam FCMA presented the Model Independent Cost Auditors’ Report and spoke on the usefulness of Cost Audit. Past President of ICMAB Mr. Md. Jasim Uddin Akond FCMA delivered the welcome address.

Chief Guest Mr. Shah Imdadul Haque unveiled the book “Model Independent Cost Auditors’ Report” and inaugurated the “CMAB Professional Consultancy Center”. He congratulated the leadership of ICMAB for taking this initiative. He assured ICMAB that BCIC would provide all out support to implement cost audit in Bangladesh Chemical Industries Corporation.

SAFA President Mr. A.K.M. Delwar Hussain FCMA congratulated all for this great initiative of ICMAB. He said it’s a long-standing demand and need of professional accountants, and able to do that today. He also added that the Govt. has made Cost Audit mandatory for certain business.

Past President and Council Member Mr. Abu Sayed Md. Shaykhul Islam FCMA said, “Cost audit is not a mere audit of expenses and financial accuracy; it is an audit of performance and efficiency. It is also an audit of financial morality”. He also spoke on the activities of “CMAB Professional Consultancy Centre”.

The Program was moderated by another Council Member Mr. Md. Ali Haider Chowdhury FCMA.

EVENT INFO :

  • Start Date:September 29, 2021
  • Start Time:19:30
  • End Date:September 29, 2021
  • End Time:23:00
  • Number of Participants:500
  • Location:ICMAB Ruhul Quddus Auditorium, ICMAB Bhaban, Dhaka
  • Website:http://www.icmab.org.bd/
  • Contract Person: Md. Akhtaruzzaman FCMA ,Deputy Director
  • Contact Number:01847360614
  • 284 Views