Financial Audit

In Bangladesh, all of the corporations are required to appoint auditors. Hence, small-medium enterprises should also understand IFRS and IAS well and apply it.


The audit standards of Bangladesh are combining with the International Standards on auditing. And ICAB displays the functions of audit.


The followings are the present title of Bangladesh Standards on Auditing.


200 Objective and General Principles Governing an Audit of Financial Statements


210 Terms of Audit Engagements


220 Quality Control for Audits of Historical Finance Information


230 Audit Documentation


240 The Auditor’s Responsibility to Consider Fraud in an Audit of Financial Statements


250 Consideration of Laws and Regulations in an Audit of Financial Statements


260 Communications of Audit Matters with Those Charged with Governance


300 Planning an Audit of Financial Statements


315 Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement


320 Audit materiality


330 The Auditor’s Procedures in Response to Assessed Risks


402 Audit Considerations Relating to Entities Using Service Organization


500 Audit Evidence


501 Audit Evidence-Additional Considerations for Specific items


505 External Confirmations


510 Initial Engagements-Opening Balances


520 Analytical Procedures


530 Audit Sampling and Other Means of Testing


540 Audit of Accounting Estimates


545 Auditing Fair Value Measurements and Disclosures


550 Related Parties


560 Subsequent Events


570 Going Concern


580 Management Representations


600 Using the Work of Another Auditor


610 Considering the Work of Internal Auditing


620 Using the Work of an Expert


700 The Independent Auditor’s Report on Complete Set of General Purpose Financial Statements


710 Comparatives


720 Other Information in Documents Containing Audited Financial Statements


800 The Auditor’s Report on Special Purpose Audit Engagements


1000 Inter-Bank Confirmation Procedures


1004 The Relationship Between Bank Supervisions and Banks’ External Auditors


1005 The Special Considerations in the Audit of Small Entities


1014 Reporting by Auditors on Compliance with International Financial Reporting


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