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Financial Reporting Council Bangladesh

From Wikipedia, the free encyclopedia
Financial Reporting Council Bangladesh
Formation2016
HeadquartersDhaka, Bangladesh
Region served
Bangladesh
Official language
Bengali
Websitewww.frc.gov.bd

The Financial Reporting Council Bangladesh (Bengali: ফইনান্সিয়াল রিপোর্টিং কাউন্সিল) is a Bangladesh government regulatory agency responsible for regulating financial reporting, auditing and audit firms.[1][2][3]

History

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The Financial Reporting Council Bangladesh was established on 19 April 2016 as per Financial Reporting Act, 2015 as an independent regulatory agency. The agency is controlled by 12 member-governing body which has representatives from the government, Bangladesh Bank, Bangladesh Securities and Exchange Commission, Federation of Bangladesh Chambers of Commerce & Industries, professional accountants association and academia.[4][5] It was created through the passage of Financial Reporting Act 2015 in the parliament of Bangladesh.[6]

In 2020 it signed agreements with International Valuation Standards Council, International Federation of Accountants, and IFRS Foundation.[7]

References

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  1. ^ "About FRC – FRC BD – Financial Reporting Council Bangladesh". Financial Reporting Council Bangladesh. Retrieved 20 August 2020.
  2. ^ "FRC includes more firms as public interest entities". The Business Standard. 16 March 2020. Retrieved 20 August 2020.
  3. ^ "'Financial Reporting Council to be functional this year'". Dhaka Tribune. 19 September 2016. Retrieved 20 August 2020.
  4. ^ "Background – FRC BD – Financial Reporting Council Bangladesh". Financial Reporting Council Bangladesh. Retrieved 20 August 2020.
  5. ^ "Formation of Financial Reporting Council gets another boost". observerbd.com. Archived from the original on 10 June 2021. Retrieved 20 August 2020.
  6. ^ "Financial Reporting Council not fully ready". The Daily Star. 12 March 2019. Retrieved 20 August 2020.
  7. ^ "FRC inks deals with 3 int'l standard setting orgs". New Age. Retrieved 20 August 2020.