11.3. Auditing Requirements

Bangladesh’s auditing standards are aligned with international benchmarks to ensure the reliability of financial reporting. The Institute of Chartered Accountants of Bangladesh (ICAB) has adopted International Standards on Auditing (ISA) to guide the auditing process. Companies are required to conduct annual audits by qualified professionals to verify the accuracy of financial statements. The audit process encompasses planning, notification, opening meetings, fieldwork, report drafting, management responses, closing meetings, and the distribution of the final audit report. This structured approach ensures a comprehensive evaluation of a company’s financial health and compliance with applicable laws and regulations. The Financial Reporting Council (FRC) oversees the enforcement of these standards, aiming to enhance the quality and credibility of financial reporting in the country.