Corporate governance
Md. Safiqul Islam Monju, Dept. of Finance and Banking, Zahurul Haq Hall, DU
All regulatory and professional bodies are now underlining the importance of corporate governance. For ensuring much needed corporate governance, more transparency and accuracy in financial statements are very crucial. But, regrettably, in our country some important International Accounting Standards issued by the International Accounting Standards Committee (IASC) have not been adopted yet. There is lack of collaboration between regulatory and professional bodies. So, more interactions among all concerned bodies are needed. There are also a lot of incongruities and inconsistencies in accounting standards that should be removed for ensuring corporate governance. I am happy to learn that ICAB's latest compilation of 26 Bangladesh Accounting Standards (BAS) has been launched. But it should not be the end. Necessary steps should be taken to implement all other accounting standards on a priority basis.
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