Institute of Cost and Management Accountants of Bangladesh
Member | Established: 1977 | Member since 1983
The Cost and Management Accountants Ordinance of 1977 establishes the regulatory authority of ICMAB regarding all cost and management accounting professionals. Under the Ordinance, ICMAB is responsible for: (i) stipulating the qualifications for membership; (ii) establishing professional examinations; (iii) maintaining and publishing a register of members who hold practicing certificates; (iv) developing professional standards and rules of conduct; (v) operating an I&D system for its members; and (vi) appointing and removing members of the Institute in accordance with ICMAB’s regulations. Members of ICMAB are designated as Fellow Cost and Management Accountant or Associate Cost and Management Accountant. ICMAB is a mandatory membership body for cost and management accountants in Bangladesh. In addition to being an IFAC Member, ICMAB is a member of the South Asian Federation of Accountants and the Confederation of Asian and Pacific Accountants.
Contact
ICMA Bhaban, NilkhetGPO Box 2629, Dhaka-1205
Bangladesh
Tel: +88-02-836-0661
Fax: +88-02-831-3599
icmab@citechco.net
http://www.icmab.org.bd
Statements of Membership Obligations (SMOs)
Last updated: 02/2017
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The Statements of Membership Obligations form the basis of the IFAC Member Compliance Program. They serve as a framework for credible and high-quality professional accountancy organizations focused on serving the public interest by adopting, or otherwise incorporating, and supporting implementation of international standards and maintaining adequate enforcement mechanisms to ensure the professional behavior of their individual members.
Status of Fulfillment
ICMAB is not responsible for the quality assurance (QA) reviews of statutory audits; however, the institute has established a QA review system to review audit work conducted by cost audit professionals. The QA review...
Under the Cost and Management Accountant Ordinance of 1977, ICMAB is responsible for establishing initial professional development (IPD) and continuing professional development (CPD) requirements for its members.While...
ICMAB is not responsible for the adoption of auditing standards to be applied in statutory audits. Under the Cost and Management Accountants Ordinance of 1977, however, ICMAB is responsible for conducting cost audits in...
ICMAB is directly responsible for setting ethical requirements for its members and reports that it has developed a Code of Ethics that is based on the 2012 IESBA Code of Ethics and is no less stringent than the IESBA...
While ICMAB has no responsibility to adopt public sector accounting standards in Bangladesh, the institute reports that it is working to promote the adoption of IPSAS by engaging in discussions with and providing...
Under the Cost and Management Accountants Ordinance of 1977, ICMAB is responsible for establishing an investigative and disciplinary (I&D) system for its members. While its system is operational, based on an assessment...
In Bangladesh, the applicable financial reporting standards are the Bangladesh Financial Reporting Standards which are based on the 2015 IFRS. As ICMAB has no responsibility for the adoption of IFRS, it focuses its...
Disclaimer
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