United News of Bangladesh

Foreign Affairs Adviser Md Touhid Hossain on Saturday said Bangladesh, as a responsible neighbor and an active member of the United Nations and other international bodies, advocates for a rule-based international order and collective action in addressing global economic challenges. "We support active engagement to promote dialogue, confidence-building, and cooperative solutions to shared concerns," he said while speaking at the Inaugural session of SAFA (South Asian Federation of Accountants) International Conference in Dhaka. Chairperson of Bangladesh Competition Commission AHM Ahsan and Chairman of the Financial Reporting Council (FRC) Bangladesh Dr Md Sajjad Hossain Bhuiyan attended the conference as special guests. Organised by the Institute of Chartered Accountants of Bangladesh (ICAB), the conference was themed “Next Generation Profession: Converging Ethical AI and Sustainability Reporting.” For Bangladesh, the Adviser said, the proposed convergence of technology and sustainability is particularly significant. "Our pursuit of economic growth and deeper global integration requires that our professionals remain not only technically proficient, but also ethically grounded and socially responsible," he said. US proud to call Bangladesh a friend: US Ambassador The Adviser said platforms such as this conference play a vital role in facilitating the exchange of knowledge, sharing of best practices, and fostering of meaningful collaborations. "Such engagements can steer both the region and the global community toward a sustainable, inclusive, and technologically advanced future," he said. The keynote speech was delivered by Adeeb Hossain Khan FCA, past President of ICAB and Senior Partner at Rahman Rahman Huq, Chartered Accountants. Khan emphasised that the adoption of AI in sustainability reporting is “no longer a distant concept, but a structural shift already influencing how economic value is created, measured, and disclosed.” The conference brought together national leadership and international expertise, serving as a platform for thought leadership, knowledge exchange, and strategic dialogue on critical issues set to reshape regional and global professional collaboration. Delegates from Afghanistan, Bhutan, India, the Maldives, Nepal, Pakistan, and Sri Lanka took part in the event, which featured three technical sessions and a valedictory session. The global accounting profession is entering a new phase as Ethical Artificial Intelligence (AI) and Sustainability Reporting begin to converge, reshaping business risk, investor expectations, and public trust, experts highlighted at the SAFA international conference. Organisers noted that their presence demonstrated strong government support for elevating professional excellence, ethical standards, and international collaboration in the accounting and finance sectors. Adviser Hossain emphasised that the convergence of technology and sustainability is crucial for shaping a ‘new Bangladesh’. Finnish observers joining EU’s Election Observation Mission He noted that the country’s aspirations for sustained economic growth and deeper global integration demand professionals who are not only technically competent but also ethically grounded and socially responsible. AHM Ahsan highlighted that technological advancement presents both opportunities and challenges, and observed that AI-driven systems can boost efficiency, strengthen compliance, and foster innovation. Without strong ethical frameworks, AI also poses risks such as algorithmic collusion, market dominance abuses, opacity, and exclusionary practices. He urged that AI be adopted with caution to ensure that Bangladesh can fully and responsibly harness its benefits.

The Institute of Chartered Accountants of Bangladesh (ICAB) has issued a strong condemnation and refutation of what it calls "misleading information" spread by the Institute of Cost and Management Accountants of Bangladesh (ICMAB) regarding audit rights and the professional standing of Chartered Accountants. In a press release issued on Wednesday, ICAB stated that ICMAB's claims were made during a press conference held on Tuesday (June 17). The ICAB affirmed its commitment to upholding the highest standards of financial reporting, auditing, and corporate governance, emphasizing the indispensable role its members play in ensuring transparency, accountability, and sustainable economic growth for the nation. The ICAB clarified several points to "set the record straight and reject the misrepresentations made by ICMAB." FBCCI Board of Directors election scheduled for Sept 7 According to ICAB, there are currently 613 practicing Chartered Accountants (CAs), supported by an additional 145 CAs and over 12,000 professional staff working under 259 CA firms. While acknowledging that the number of active entities is much lower than the over 300,000 registered entities in Bangladesh. The ICAB stated that the total DVC (Document Verification Code) generated for audited entities in 2024 was 57,993, which corresponded to the number of income tax returns filed. Therefore, ICAB asserts that ICMAB's statement about a shortage of auditors in Bangladesh is incorrect.