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SEC to audit financial statement of listed cos

Staff Correspondent |
Update: 2010-08-03 22:41:21
SEC to audit financial statement of listed cos

DHAKA: The Securities and Exchange Commission (SEC) may audit faulty financial statement of any company listed with the capital market.

The SEC will also recruit auditor in order to implement its decision, a meeting of the stock market regulator decided Wednesday.

SEC’s Executive Director and spokesman Anwarul Kabir Bhuiyan told banglanews24.com.bd that the decision was taken to ensure transparency of the capital market.    
 
Sources said, the companies listed with the capital market often prepare fanatical statement by so-called audit farms.

As the SEC had no audit department of its own, they had to approve those statements. Investors were cheated buying their shares.  

BDST: 1931 HRS. 04 AUGUST, 2010.

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