Celebration Ceremony for Inclusion of CMA Firms in the Cash Incentive Audit

ICMAB celebrated a milestone that widened the practicing horizon for the CMA firms by including CMAs in the Cash Incentive Audit. The colorful and exciting event was held on 10 December 2023 at 7:00 pm at the ICMAB Ruhul Quddus Auditorium, ICMA Bhaban, Nilkhet, Dhaka. A gathering of more than 350 members ornamented the program, including the presence of past presidents, office bearers, and past and present council members. Mr. Mohammed Salim FCMA, Past President, Present Council Member, and the Chairman of the ICMAB Seminar and Conference committee welcomed the gathering, coherently articulating the background of the celebration.

The President of ICMAB, Mr. Md. Abdur Rahman Khan FCMA, addressed the gathering, sharing the journey in chronological order to attain the achievement. Mr. Khan shared that the FE Circular No. 13 dated 24 August 2023 of Bangladesh Bank allows FRC enlisted CMA firms to conduct cash incentive audits through attaining Bangladesh Bank enlistment. He also mentioned other recent achievements that broadened CMAs practicing horizon, e.g., BSEC’s circular directing 21 listed companies to comply with the legal requirements for conducting cost audits, valuation of collateral against borrowing from banks and financial institutions, and CMAs inclusion in the Customs Act 2023 as the authorized representative. He, however, emphasized that the CMA firms’ capacity building and infrastructural development are necessary to ensure our readiness to deliver existing and future assignments while maintaining professionalism and quality. The audience relished the President’s speech with pin-drop silence and praised him with spontaneous applause for the tremendous hard work behind the achievements.

Past Presidents, Mr. Mohammad Mohiuddin FCMA, Mr. Muzaffar Ahmed FCMA, Mr. Md. Abdul Aziz FCMA, Mr. Abu Bakar Siddique FCMA, Mr. Arif Khan FCMA, and Mr. Md. Mamunur Rashid FCMA, also expressed their emotions and feelings for the achievement. ICMAB Vice President, Mr. Mahtab Uddin Ahmed FCMA, addressed the enthusiastic gathering and expressed heartfelt gratitude for making the celebration vibrant. ICMAB Secretary Mr. Md. Kausar Alam FCMA delivered a vote of thanks on the occasion.  Mr. S.M. Zahir Uddin Haider FCMA, ICMAB Council Member, joyfully and delightedly anchored the program.

        The program ended with a cake-cutting ceremony and a gala dinner.