A memorandum of understanding (MoU) between the Institute of Chartered Accountants of Bangladesh (ICAB) and the Office of the Comptroller and Auditor General (OCAG), Bangladesh was signed today at a city hotel.

ICAB President Md. Shahadat Hossain and Comptroller and Auditor General of Bangladesh Mohammad Muslim Chowdhury signed the MoU on behalf of their respective sides.

ICAB Vice President NKA Mobin, CEO Shubhashish Bose, OCAG Deputy Comptroller and Auditor General Professor Dr. Fahmida Islam; Deputy Comptroller and Auditor General (Accounts & Report), Khan Md. Ferdausur Rahman Khan spoke on the occasion.

ICAB council members, former presidents, high officials of OCAG were present, among others, on the occasion, said a press release.

Under this MoU, ICAB and OCAG Bangladesh will closely work together to develop and introduce courses, programs with a view to create the scope of intellectual sharing between them; develop customized training programs, disseminating knowledge and technical expertise on public financial management, private sector accounting, auditing, legislations, instruments and practices.

Speaking on the occasion, Mohammad Muslim Chowdhury, Comptroller and Auditor General of Bangladesh said that under this MoU, both the organizations will work in collaborative way to exchange expertise to fill the knowledge gap between ICAB and OCAG.

ICAB President Md. Shahadat Hossain said that accounting is very much important in all financial transactions. “So, it has big impact on the economy. That’s why integrated accounting system in both public and private domain is the demand of the time.”