ICAB, ICMAB join hands to deepen cooperation

The Institute of Chartered Accountants of Bangladesh (ICAB) yesterday signed a joint collaboration framework (JCF) with the Institute of Cost and Management Accountants of Bangladesh (ICMAB) to strengthen cooperation between the country’s two leading professional accounting bodies.

Md Quamruzzaman, chief executive officer of ICAB, and Md Mahbub-Ul-Alam, executive director of ICMAB, signed the JCF, which is a key component of ICAB’s Reform Strategy 2025-30, with professional accountancy organisations (PAOs) at ICAB Council Hall in Dhaka, according to a press release.

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Under the JCF, ICAB and ICMAB will collaborate on continuing professional development, joint research and publications, professional events, policy advocacy and international engagement.

A joint coordination committee, with equal representation from both institutes, will oversee implementation and meet at least four times a year.

Both institutes said the partnership aims to elevate professional standards, strengthen governance and support Bangladesh’s economic development.

Commenting on the JCF, Sabbir Ahmed, president of ICAB, said the institutes must raise a unified voice to influence national policy and strengthen the profession.

Kausar Alam, president of ICMAB, said the two bodies would work together at the policy level and act as the voice of the nation for the accounting profession.

Asifur Rahman and Mohammad Redwanur Rahman, vice-presidents of ICAB, and Md Moniruzzaman, a council member, along with senior officials of both institutes, were also present at the signing ceremony.