The Financial Express

FRC finds Advent Pharma a wrongdoer

JASIM UDDIN HAROON | Published: February 28, 2020 10:32:35 | Updated: March 01, 2020 12:50:00

FRC finds Advent Pharma a wrongdoer

The Financial Reporting Council (FRC), an auditors' watchdog of the country, found a few irregularities involving a pharmaceutical company.

The listed company, Advent Pharma, had an approval of appointing M Hasan & Co to prepare its financial statement for the financial year 2018-19.

But it later appointed Zaker & Co instead of M Hasan & Co, which was a complete violation of the approved resolution of the company's Annual General Meeting (AGM).

The pharmaceutical company also failed to comply with the rule relating to corporate governance in its report.

The FRC sent a letter to the Bangladesh Securities and Exchange Commission on Thursday asking it to take action in this regard.

The FE has obtained a copy of the letter signed by FRC Chairman CQK Mustaq Ahmed.



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