ICAB and LGD signed MoU to assess UPs performance

A Memorandum of Understanding (MoU) has been signed between the Institute of Chartered Accountants of Bangladesh (ICAB) and the Local Government Division (LGD) of the Ministry of Local Government Rural Development and Cooperatives.

The MoU was signed for conducting annual external audit of Union Parishads across the country and reviewing of the audit report to be submitted by audit firms under the LGD, said a press release.

ICAB President Muhammad Farooq FCA and Maran Kumar Chakraborty, additional secretary of the LGD signed the MoU at a function held at the Local Government Support Project (LGSP) office in Dhaka yesterday.

ICAB Secretary and CEO (in-charge) Mahbub Ahmed Siddique FCA, Deputy Director Afsar Uddin FCA, Deputy Project Director, LGSP-3, Jahirul Islam, among others, were present at the programme.

The LGD took the initiative in implementing the LGSP-3 with financial support of the World Bank.

The key feature of the Project is to ensure external audit of the latest annual financial statements along with the performance and compliance assessment of all the Ups, the press release said.