Finance Minister Abul Hassan Mahmood Ali yesterday said that the country’s accounting system needs reforms in order to meet international standards as well as to comply with the suggestions of the development partners.
The finance minister said this while addressing as chief guest a discussion meeting marking the 51st founding anniversary of the Comptroller and Auditor General (CAG) at its office in the capital.
Ali also inaugurated a three-day service operation of the CAG office that would continue till 14 May across the country.
Presided over by Comptroller and Auditor General (CAG) of Bangladesh Md Nurul Islam, Parliamentary Standing Committee Chairman on Public Accounts Hafiz Uddin Ahmed and Finance Division Secretary Md Khairuzzaman Mazumder spoke at the function as special guests.

Ali said in accordance with the ever-changing global order, to face economic challenges and gain excellence in ICT, there is a need to conduct performance, IT, environment and climate change related audits alongside conducting international standard traditional compliance and financial audits.
“Reforms are needed in the accounting system in order to meet the international standards and demand of the development partners. Already the modern structure of the accounting system has been framed with support from the audit and accounting department,” he said, hoping that this would help ensure transparency in the financial sector.
The finance minister noted that if the audit operations of the government become more fruitful, it would be possible to ensure the effective use of the financial assets of the government. He also assured that the Ministry of Finance would extend all necessary cooperation to enhance the capacity of the CAG office to conduct standard quality and real time audits.