The Institute of Chartered Accountants of Bangladesh (ICAB) and the Institute of Chartered Accountants in England and Wales (ICAEW) have discussed plans to renew their memorandum of understanding for mutual collaboration.
This agreement, in place since 2009, has fostered joint efforts in education and professional development within the accountancy sector.
Both presidents agreed to work towards its continuation upon expiry in 2025.
During the South Asian Federation of Accountants (SAFA) event in India, ICAB president Maria Howlader FCA and ICAEW president Malcolm Bacchus discussed the future of their partnership.
This event was held at the Yashobhoomi Convention Center in New Delhi.
The SAFA, a Network Partner of the International Federation of Accountants (IFAC), brings together 11 accounting bodies from across the South Asian region.
This includes Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka.
The dialogue between the two bodies also encompassed professional and technical issues.
These encompassed the adoption of technology, particularly artificial intelligence, audit software, sustainability reporting, quality assurance, and the education and examination processes.
Additionally, the ICAB delegation, led by SAFA Board Members and the ICAB president, participated in the strategy meeting of the SAFA Board and its committees.
They also attended the conference of the World Forum of Accountants, hosted by the Institute of Chartered Accountants of India.
These developments follow the announcement of leadership changes within ICAB’s Dhaka Regional Committee (DRC), which have benn effective from 1 January 2025.
Mohammad Refaul Karim Chowdhury has been elected as chairman, and Mahmudur Rahman as secretary of DRC-ICAB.
