Uttara Finance to face special BSEC audit
The regulator would soon invite applications from interested auditors
The securities regulator has decided to appoint a special auditor to look into the accounts of Uttara Finance and Investments as the publicly listed non-bank financial institution (NBFI) is embroiled in a scandal.
An official of the Bangladesh Securities and Exchange Commission (BSEC) said to protect investors' interest, the regulator has decided to look into the matter.
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The BSEC would soon announce the decision and invite applications from interested auditors.
The Bangladesh Bank has already ordered the NBFI to correct its last two annual financial statements, which concealed a huge amount of money lent to its directors in non-compliant ways.
The anomaly reportedly involves more than Tk1,000 crore.
