Audit Committee


 Audit Committee:

1. Prof. M. Farid Ahmed



2. Prof. Md. Shahidul Islam


3. Mrs. Nusrat Jahan



Functions of Audit Committee as per Condition No. 5(5) of Corporate Governance Code issued by the Bangladesh Securities and Exchange Commission vide BSEC/CMRRCD/2006-158/207/ Admin/80, dated: 3 June 2018:



The Audit Committee shall:

  • oversee the financial reporting process;
  • monitor choice of accounting policies and principles;
  • monitor Internal Audit and Compliance process;
  • oversee hiring and performance of external auditors;
  • hold meeting with the external or statutory auditors for review of the annual financial statements;
  • review along with the management, the annual financial statements before submission to the Board for approval;
  • review along with the management, the quarterly and half yearly financial statements before submission to the Board for approval;
  • review the adequacy of Internal Audit function;
  • review the Management’s Discussion and Analysis before disclosing in the Annual Report;
  • review statement of all related party transactions submitted by the management;
  • review Management Letters or Letter of Internal Control weakness issued by statutory auditors;
  • oversee the determination of audit fees based on scope and magnitude, level or expertise deployed and time required for effective audit and evaluate the performance of external auditors; and
  • oversee whether the proceeds raised through Initial Public Offering (IPO) or Repeat Public Offering (RPO) or Rights Share Offer have been utilized as per the purposes stated in relevant offer document or prospectus approved by the Commission:


Reporting of the Audit Committee

Reporting to the Board of directors

·        The Audit Committee shall report on its activities to the Board.

·        The Audit Committee shall immediately report to the Board on the following findings, if any:-

  • Report on conflicts of interest;
  • Suspected or presumed fraud or irregularity or material defect identified in the internal audit and compliance process or in the financial statements;
  • Suspected infringement of laws, regulatory compliance including securities related laws, rules and regulations; and
  • Any other matter which the Audit Committee deems necessary shall be disclosed to the Board immediately;

Reporting to the Shareholders and General Investors

Report on activities carried out by the Audit Committee during the year, shall be signed by the Chairperson of the Audit Committee and disclosed in the annual report of the issuer company.



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