BSEC to list auditors’ names

The stock market regulator has decided to include the names of partners of audit firms in its auditors’ panel to ensure more accountability while verifying financial reports of listed companies.

As per existing system, the stock market regulator sets a panel list of firms that can audit listed companies’ financial reports and the non-listed ones that submitted IPO proposals.

There are 39 audit firms and the regulator reviews the panel from time to time.

But in some cases, partners of the audit firms leave and the regulator is not informed of the change, said a top official of the Bangladesh Securities and Exchange Commission. “The departure could impact the quality of audit.” The BSEC has also decided to include the option that the firms might lose eligibility for audit jobs if any of their partners leaves the firm.