Weak accounting standards may deter foreign investors: Finance minister

Finance and Planning Minister Amir Khosru Mahmud Chowdhury on Wednesday said auditors should remain self-regulated for their own interests and take advantage of the country’s emerging economic opportunities.

He said Bangladesh is now at a crossroads in transforming its economy through substantial local and foreign investments, adding that auditors should seize the opportunity.

The minister warned that a lack of confidence in accounting standards could discourage foreign investors from investing in the country.

“Once foreign investors see that accounting practices are not credible, they will lose interest in the country,” he said.

However, Mr Chowdhury said the Financial Reporting Council (FRC) would continue to play its role in oversight, inspection and overall monitoring of the sector.

The finance minister was speaking as the chief guest at the FAR Summit 2026, jointly organised by the Institute of Chartered Accountants of Bangladesh (ICAB), the FRC and the Institute of Cost and Management Accountants of Bangladesh (ICMAB).

The summit is being held at a hotel in Dhaka with Finance Secretary Dr Md Khairuzzaman Mozumder in the chair.

jasimharoon@yahoo.com