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to the society by having its members maintain the highest professional standard while developing, equipping, and promoting the Cost and
Management Accounting profession. Implementation of National Accounting as well as Cost Accounting Standards are also used with other necessary steps in order to regulate the profession. The ultimate goal of this is to develop Bangladesh's natural and human resources to enrich the shared future of the country and to ensure common welfare.
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They have many visions and missions. By promoting and regulating Cost and
Management Accounting they want to improve the quality of life and economic competitiveness which will eventually lead to helping Bangladesh become and industrialized nation. The institute's mission is to provide better service
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The professional Cost and
Management Accountants of Bangladesh's national body is the Institute of Cost and Management Accountants of Bangladesh (ICMAB). In order to promote and regulate the Cost and Management Accounting profession in the country, the ICMAB was established. To students interested in
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Chartered
Accountants completed their trainings by practicing in firms that specialize in financial accounting, financial audit and tax. CMAs receive particular training in cost audit, management audit, and management accounting, as well as general accounting and taxation. Both the ICMAB and ICAB are
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The institute is governed by a council which is under the provision of the Cost and
Management Accountants Ordinance of 1977. There are twelve members consisted in the council and they are elected by the members of ICMAB. The council also consists of four nominees from the Government of Bangladesh.
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The
Institute of Chartered Accountants of Bangladesh (ICAB) prescribes Financial Reporting Standards which are known as Bangladesh Financial Reporting Standards (BFRS). Bangladesh Accounting Standards (BAS) are also included in BFRS. International Accounting Standards and International Financial
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Each term is for three years and every year there is one
President, two Vice- Presidents, one Secretary, and one Treasurer elected from the councilors. A team of fully employed personnel, however, manages the day to day administrative affairs of the institute.
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pursuing a career in this field, the institute offers training and education and highly recognized CMA degrees on fulfillment of their qualifications. The ICMAB is the sole authority to issue licences to their members for practice in the field.
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Membership in the ICAB is mandatory for all
Chartered Accountants whether financial accountant or financial auditor. Fellow Chartered Accountants or Associate Chartered Accountants are usually what members of the ICAB are designated as.
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under the administrative control of the
Ministry of Commerce. The Government of Bangladesh considers both types of professional accountants equal with respect to employment in government services as per circular No.Com/PTMA/AP/2/19/87.
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Reporting
Standards which are issued by the International Accounting Standards Board are what the BFRS models on. For listed companies under the Securities and Exchange Commission (SEC) rules, adopted BFRS are legally enforceable.
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was developed during the British colonial period. The basic requirements for financial reporting by all companies in Bangladesh were provided by the Companies Act of 1994. Today, it is represented by two professional bodies, the
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The sole regulator of accountants and auditors in Bangladesh under the Bangladesh Chartered Accountants Order of 1973 was the Institute of Charted Accountants (ICAB). There are many mandatory requirements included in the ICAB:
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Maintaining and publishing of its members qualified to practice as accountants and auditors
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Being able to see the initial and continuing professional development of its members
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Investigating and disciplining its members for misconduct professionally
239:"IFRS Application Around the World Jurisdictional Profile: Bangladesh"
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Determining if you are qualified for membership in the institute
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Establishing and maintaining a quality assurance review system
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Institute of Cost & Management Accountants of Bangladesh
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Institute of Cost and Management Accountants of Bangladesh
299:"Institute of Chartered Accountants of Bangladesh | IFAC"
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Bangladesh: financial accountability for good governance
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Institute of Chartered Accountants of Bangladesh (ICAB)
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Allowing them to set accounting and auditing standards
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329:(2002). "Public Sector Accountants and Auditors".
333:. World Bank e-Library. World Bank Publications.
215:International auditing: practical resource guide
31:Institute of Chartered Accountants of Bangladesh
64:Bangladesh Financial Reporting Standards (BFRS)
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46:International Financial Reporting Standards
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105:Having professional examinations conducted
42:Generally Accepted Accounting Principles
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217:. John Wiley and Sons. p. 138.
213:David O'Regan (2003). "Bangladesh".
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73:Accountants Profession of Bangladesh
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60:(CSE) are required to use IFRS.
694:British Indian Ocean Territory
111:Being able to license auditors
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134:Sections on British rule in
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58:Chittagong Stock Exchange
763:Accounting in Bangladesh
443:East Timor (Timor-Leste)
704:Cocos (Keeling) Islands
136:History of Bangladesh
618:United Arab Emirates
54:Dhaka Stock Exchange
20:, the profession of
645:limited recognition
378:Accounting in Asia
189:"Services of CMAs"
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140:History of Bengal
56:(DSE) and/or the
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306:. Retrieved
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165:"Bangladesh"
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742:Asia portal
643:States with
563:Philippines
503:South Korea
498:North Korea
393:Afghanistan
22:accountancy
623:Uzbekistan
598:Tajikistan
513:Kyrgyzstan
493:Kazakhstan
413:Bangladesh
403:Azerbaijan
327:World Bank
308:2017-10-23
284:2017-10-23
259:11 October
198:11 October
174:2017-10-23
146:References
18:Bangladesh
709:Hong Kong
663:Palestine
588:Sri Lanka
583:Singapore
463:Indonesia
757:Category
732:Category
653:Abkhazia
603:Thailand
558:Pakistan
538:Mongolia
533:Maldives
528:Malaysia
428:Cambodia
129:See also
33:(ICAB).
628:Vietnam
543:Myanmar
523:Lebanon
453:Georgia
408:Bahrain
398:Armenia
673:Taiwan
608:Turkey
573:Russia
508:Kuwait
488:Jordan
478:Israel
438:Cyprus
423:Brunei
418:Bhutan
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50:IAS 39
714:Macau
633:Yemen
593:Syria
568:Qatar
548:Nepal
483:Japan
458:India
448:Egypt
433:China
253:(PDF)
242:(PDF)
553:Oman
518:Laos
473:Iraq
468:Iran
335:ISBN
261:2015
246:IFRS
219:ISBN
200:2015
138:and
40:The
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16:In
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154:^
371:e
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