Bangladesh Bank governor yesterday urged the chartered accountants to be more responsible in improving corporate governance, saying concealing information has become one of the major problems in business activities.
"Concealing or lack of information is a major problem in corporate affairs in the country and you have a significant role to play in this regard," Salehuddin Ahmed told an international conference.
He was chairing a session on the sidelines of the international conference of South Asian Federation of Accountants (Safa) at Bangladesh-China Friendship Conference Centre in Dhaka.
Corporate governance needs to be improved for a healthy business, Salehuddin observed, stressing the need for developing the quality of social sector. "Private sector can't survive without services of the social sector and trust is very important in social capital."
Presenting a paper on 'Development of Social Sectors Science, Technology and Entrepr-eneurship', Mohammad Shabbar Zaidi, president of the Institute of Chartered Accountants (ICA) of Pakistan, said 85 percent of the business firms represent small and medium enterprises (SMEs) but an accounting system for those has not been developed.
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