B Mirror Report : Finance Adviser to the interim government, Salehuddin Ahmed, has highly praised the activities of the Financial Reporting Council (FRC) within a short period of time.

He said the council’s initiatives have had a positive impact on strengthening its operations and improving economic governance. At the same time, he instructed that a clear action plan be implemented quickly to further enhance the effectiveness of the organization.

He made these remarks at a seminar held at the Ministry of Finance on Sunday (4 January), chaired by the Finance Adviser.

Salehuddin Ahmed said that the activities carried out by the Financial Reporting Council (FRC) in a short span of time are contributing positively to strengthening economic governance. He added, “If compliance with international standards in financial reporting and auditing can be ensured, the country’s overall economic governance will become stronger and investor confidence will increase.”

At the seminar, FRC Chairman Dr Md Sazzad Hossain Bhuiyan presented the keynote paper titled “The Financial Reporting Council (FRC) and Economic Governance in Bangladesh.” In his paper, he highlighted the role of the FRC in ensuring transparency, accountability, and adherence to international standards in Bangladesh’s financial system.

The directives include expediting the recruitment process for 57 FRC officials and employees, taking necessary measures to issue four important FRC regulations, and approving and implementing full automation of FRC operations.

The guidance also includes providing support for obtaining and renewing membership with international standard-setting bodies such as the IFRS Foundation, International Federation of Accountants, XBRL International Incorporated, Asian-Oceanian Standard-Setters Group, International Forum of Accounting Standard Setters, and the Accounting and Auditing Organization for Islamic Financial Institutions.

In addition, cooperation was emphasized for organizing knowledge-based training, holding bilateral meetings, and signing memorandums of understanding with international organizations.