Dipok Kumar Roy

Once upon a time, banks in Bangladesh were regarded as highly reliable financial institutions

The top 100 audit firms conduct approximately 87 percent of audits—an overwhelming majority of statutory audits—with individual partners at leading firms reportedly signing off on as many as 388 audits per year

A statutory audit is not a demand-driven service. It is a legally mandated regulatory requirement.

Audit practice is governed by two regulatory frameworks. The first consists of domestic laws covering the appointment, reappointment and removal of auditors, the convening and adjournment of AGMs, auditor rights and powers, and statutory requirements for financial statements. In practice, International Financial Reporting Standards are applied to ensure global alignment in content and disclosures.