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CAs can play vital role in economic growth

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Staff reporter
Speakers at an international conference in Dhaka on Tuesday observed that chartered accountants can play an important role in the economic growth of South Asian countries, including Bangladesh.
They came up with the observation at the inauguration of the day-long SAFA (South Asian Federation of Accountants) International Conference 2014, organized by the Institute of Chartered Accountants of Bangladesh (ICAB) at Bangabandhu International Conference Centre.
Speaking on the occasion, Commerce Minister Tofail Ahmed said chartered accountants can make significant contributions to the economic growth of South Asian countries, including Bangladesh.
He said the accountants should play their due role in reporting and auditing to ensure the continuity of economic growth, transparency and good governance.
“Accountants are not only dealing with conventional areas of accounting, taxation and auditing services, they’re also now involved in overall strategic business planning and development,” he added.
Tofail hoped that professional chartered accountants would continue to extend their support in ensuring good governance in Bangladesh through quality reporting and financial statements.
ICAB president Showkat Hossain, FCA said accountants can provide different value-added services to build a friendly socio-economic environment for local and foreign direct investment, capital market development and industrialization, and thus can contribute to the economic growth of their respective countries.
He said chartered accountants are indispensable for devising business strategies for sustainable growth, and only the accountants have the access to each and every department of the business process wherever financial matters are involved with.
SAFA president CA Subodh Kumar Agrawal spoke at the inaugural function as a special guest, while former chairman of the National Board of Revenue (NBR) MA Majid presented the keynote paper.
Accountancy professionals, representatives from various local, regional and international accounting bodies took part in the conference and exchanged their experiences.
ICAB council member Anwaruddin Chowdhury, Institute of Chartered Accountants of Pakistan (ICAP) president Naeem Akhter Sheikh and Institute of Chartered Accountants of India (ICAI) central council member CA Jay Ajit Chhaira made their presentations in three technical sessions of the conference.