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Reforms in accounting system needed to meet global standards: Bangladesh Finance Minister

Bangladesh Finance Minister Abul Hassan Mahmood Ali on Saturday said that reforms are needed in Bangladesh’s accounting system in order to meet international standards and also to comply with the suggestions of the development partners.

The finance minister said this while addressing as chief guest a discussion meeting marking the 51st founding anniversary of the Bangladesh Comptroller and Auditor General (CAG) at its office in Dhaka.

Ali said in accordance with the ever changing global order, to face economic challenges and to gain excellence in ICT, there is a need to conduct performance audit, IT audit, environment and climate change related audit reports alongside conducting international standard traditional compliance and financial audits.

The finance minister noted that if the audit operations of the government become more fruitful, then it would be possible to ensure the effective use of the financial assets of the government, reports BSS.

He also assured that the Ministry of Finance would extend all necessary cooperation to enhance the capacity of the CAG office to conduct standard quality and real time audits.

By Navalsang Parmar (Dhaka)

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