Two-day long Cost Audit Workshop held

The Institute of Cost and Management Accountants of Bangladesh (ICMAB) arranged a two-day Cost Audit workshop on 17-18 November, 2016 at ICMAB Ruhul Quddus Auditorium, Dhaka. President of ICMAB Mr. Arif Khan, FCMA presided over the inauguration session of the Workshop.

CMA Bharat Bhushan Goyal, Former Addl. Chief Adviser (Cost), Ministry of Finance, Government of India and CMA Raju Iyer Pichumani, Council Member & Chairman Cost Audit and Assurance Standards Board of Institute of Cost Accountants (ICA) India presented Papers on Chemical Fertilizer, Real Estate, Pharmaceuticals and Power sector Cost Audit.

Mr. M. Abul Kalam Mazumdar FCMA, Chairman of the Cost Audit and Professional Service Committee and former President of the Institute in his welcome address mentioned that Cost Audit is very much essential for competiness of govt. and private sector manufacturing industries. He also mentioned the importance of cost accounting standards that helps provide guidance to the users of cost statements, regulators, government, researchers and academicians for the purpose of uniformity and consistency in classification, measurement and assignment of costs. He also mentioned that in view of its importance to Cost Accounting and Cost Audit, ICMAB has initiated to issue Cost Accounting Standards. Earlier, ten standards were issued and thirteen more standards are in the final stage. This makes total standards to twenty-three. Mr. Md. Abdur Rahman Khan FCMA, Secretary ICMAB offered vote of thanks.

A good number of members and Students of the Institute attended and participated in the workshop.