B Mirror Report: Bangladesh Bank (BB) has enlisted seven Cost and Management Accountant (CMA) firms to conduct audits of applications for export subsidies and cash incentives, reinforcing its commitment to transparency and stringent oversight in the processing of export-related financial benefits.

The directive, issued to all Authorized Dealers (ADs) in foreign exchange across the country, requires them to facilitate the audit process for export subsidy and cash incentive claims.

According to the circular, the central bank has identified the following seven firms as eligible for auditing assignments: A. Hannan & Co., Hossain & Co., Mujibur Rahman & Co., Podder & Associate, Safe-Q Associates & Co., Saifur Enayet & Associates, and Sam & Associates.

To ensure balanced professional engagement and effective supervision, the central bank has placed operational constraints on assignments. Under the new rules, a single CMA firm cannot undertake audits for more than three banks in a given financial year.

Authorized Dealers have also been instructed to inform their clients about the circular’s contents to guarantee sector-wide compliance.

Bangladesh Bank confirmed that all directives in the December 2023 circular, along with other relevant circulars and letters regarding export subsidies and cash incentives, remain fully in effect.