BSEC selects 14 auditors to audit 50 firms' unclaimed dividend payouts
In a directive issued on Monday, the commission has instructed the Capital Market Stabilisation Fund (CMSF) to appoint auditors from the list of the selected 14 for the first phase audit.
The Bangladesh Securities and Exchange Commission (BSEC) has selected 14 auditors to conduct audits of 50 listed companies to address unclaimed dividend disbursement issues.
In a directive issued on Monday, the commission has instructed the Capital Market Stabilisation Fund (CMSF) to appoint auditors from the list of the selected 14 for the first phase audit.
According to the directive, the CMSF will finalise the audit periods based on corporate actions, including the declaration of cash and stock dividends, right issues, and other corporate actions.
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The audit should be conducted by the 14 selected firms as per the proposal of the CMSF.
The audit fees should not be more than the proposed audit fees.
The audit will be conducted as per approved terms of reference and reported accordingly.
Before finalising the audit report and its findings, the CMSF will arrange a tripartite meeting with the relevant department of the commission.
Auditors and CMSF must ensure compliance with the relevant rules, regulations, notifications, and instructions issued by the commission in this regard.
Additionally, no audit firm shall conduct audits for more than four companies.
The selected chartered accountants are A Wahab & Co, ACNABIN, Aziz Halim Khair Choudhury, FAMES & R, G Kibria & Co, Howladar Yunus & Co, Mahfel Huq & Co, Masih Muhith Haque & Co, SK Barua & Co, Zoha Zaman Kabir Rashid & Co, Mahamud Sabuj & Co, Islam Jahid & Co, Basu Banerjee Nath & Co, and Snehasish Mahmud & Co.
