Audit Procedure in Bangladesh: “An Experience with “ACNABIN Chartered Accountants
Shahriar, Md. Sadman
Shahriar, Md. Sadman
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The report titled “Audit Procedure in Bangladesh: An Experience with “ACNABIN Chartered Accountants” is the accumulation of the experience during the internship period. The aim of this report is to show-case the procedures and processes that are followed by auditors during an audit and procedures followed by ACNABIN Chartered Accountants, where the internship had taken place. The report has been segmented into eight different chapters. Chapter 1 covers the purpose and the reasons for which the report has been prepared and covers the difficulties that were faced when preparing this report. It also covers the sources of information that were made of use in order to complete the report. Chapter 2 covers a brief history of the firm and the purpose behind the existence of firm and how it came into existence. The second chapter also discusses the services and the clients of the firm and the distribution of authority within the firm. Chapter 3 is the culmination of the four years’ theoretical knowledge at United International University. It represents the knowledge that was accumulated about auditing during the times spent in studying at United International University. In chapter 4, the procedures for engaging in an audit in Bangladesh is discussed in details. This chapter discussed about how a firm should conduct its audit and about the steps that are to be followed during an audit, till a reasonable conclusion is reached. Chapter 5 discusses about the audit procedures and sequences that has been adopted by ACNABIN. The chapter describes, in details, about either how the firm is approached by a client or how the firm itself approaches a client and the steps that proceed after the approach for both scenario. Chapter 6 covers the practical experiences and some of the tasks that are performed by the auditors, after being assigned to a client. Being an intern, I was not provided with tasks of significant importance but with the small and relatively easier tasks. Chapter 7 covers the experiences and the tasks that were performed when staying at the firm and how the experience, as a whole, matured and changed the ways of perceiving situations and events. Chapter 8 discusses the problems that are involved when conducting an audit and the difficulties that auditors face during the audit. It also tries to solve some of the problem through recommendations, included in this chapter. Few findings were discovered as the allotted time was not enough and due to other difficulties mentioned in the limitations part of chapter 1. The profession of chartered accountants is noble and daunting and given the current development of Bangladesh, their numbers will hopefully grow in the days to come.
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