B Mirror Report:  Member of Parliament and Bangladesh Textile Mills Association Vice President Abul Kalam has said that weak accounting practices and non-transparent financial reporting are eroding investor confidence in Bangladesh’s stock market.

Speaking at a seminar titled “Reliable Financial Reporting: What Really Matters” organized by the Financial Reporting Council (FRC) in Dhaka on Wednesday, Abul Kalam said accurate financial reporting is not only a legal requirement but also a foundation of good governance.

He warned that misleading financial statements result in poor allocation of resources, harming both the economy and productivity. He also linked recent stress in the banking sector to a lack of transparency in financial accounts.

Abul Kalam noted that the stock market plays a vital role in long-term industrial financing, but opaque financial reporting remains a major obstacle. He added that inaccurate accounts often distort share prices and weaken investor trust.

Calling for stronger oversight, he urged auditors to move beyond routine practices and take a more courageous role in identifying and reporting financial irregularities.

Finance and Planning Minister Amir Khasru Mahmud Chowdhury attended the event as chief guest, while adviser Dr. Rashed Al Mahmud Titumir joined virtually. FRC Chairman Dr. Mohammad Sajjad Hossain Bhuiyan presented the keynote paper at the seminar.