Year - icab.org.bd · Web viewEmail address. Audit connections – National / International links. B1.1. Firm Name. ... Textile, Engineering etc.) Audited by the firm in (please

Annual Return 2017 ...................................., Chartered Accountants

© The Institute of Chartered Accountants of Bangladesh1 of 18

ANNUAL RETURN _____________________________________________________________________________________A Return that needs to be furnished annually by all practicing firms to the Quality Assurance Department of the Institute of Chartered Accountants of Bangladesh

The Institute of CharteredAccountants of Bangladesh

2017


ANNUAL RETURN

For the year from 01 January 2017 to 31 December 2017

Please return by 15 February 2018

Thank you for taking the time to complete this annual return.

Information in italics relates to documents published elsewhere.

CONFIRMATIONS AND UNDERTAKINGS

If you are unable to give one or more of the following confirmations and undertakings, please strike it through and enclose a full statement explaining the position.

1 I/We confirm that, if requested, the firm is willing to submit or make available to the ICAB and/or its agents, documents and records in support of answers given in this annual return.

2 I/We confirm that, to the best of my/our knowledge and belief, the information in this annual return is complete and accurate and where estimates are given, they are made on the best available information.

3 I/We confirm that, to the best of my/our knowledge and belief, all commission, fees or other benefits have been disclosed to clients and accounted for in accordance with the Code of Ethics, Section 240: Fees and Other Types of Remuneration.

Audit registration

4 I/We shall at all times comply with the practicing rules, regulation and standards of ICAB.

5 I/We confirm that the firm has made arrangements so that all partners and employees doing audit work are, and continue to be, competent to carry out the audit work for which they are responsible or employed.

6 I/We confirm that the firm is a fit and proper firm to carry out audit work.

7 I/We confirm that the firm has notified the ICAB within 30 business days of all changes in circumstances, and will continue to do so.

8 I/We confirm that, if training is provided to partners or employees to enable them to obtain the appropriate (i.e. audit) qualification, the audit work that underlies that training will comply with all relevant Bangladesh Standards on Auditing (BSAs).



If you have provided additional information on separate sheets, please make sure that you have cross-referenced each piece of information to the relevant question.

I have attached ____ additional sheets.

SignaturesSole practitioners only need to sign once

Senior/Managing Partner/ Sole Practitioner/ * delete as appropriate

Name in capitals

Date

DATA PROTECTION

For the avoidance of doubt variable data provided in this return is not shared with third parties except for the purpose of professional development and discipline including but not limited to information relating to Digital Identification of Audit Report vide Circular No. 1/19/ICAB/IT/2017 dated 15 December 2017.

For QAD use only

Input by

Input date



ICAB ANNUAL RETURN

Issue date: <<DATE>>Please submit this return by 15 February 2018

Please complete this form clearly using black ink.

Variable data

The data provided in these sections of the annual return should be completed as at <<as at date>>, except where otherwise stated.

FIRM PROFILECurrent Year Previous

Year

D1.1 Number of partners (Fellow Members) ------------------------------------

D1.2 Number of partners (Associate Members) ------------------------------------

D1.3 Number of qualified audit staffs ---------------------------- --------

D1.4 Number of course completed staffs ---------------------------- --------

D1.5 Number of articled students - male * ---------------------------- --------

D1.6 Number of articled students - female * ---------------------------- --------

D1.7 Number of other staffs (Incl. Administrative, Internship & ---------------------------- --------

Others)

D1.8 Total number of staff (including sole practitioners,

fee-earning staff and partners) [Sum (D1.1: D1.7)]© The Institute of Chartered Accountants of Bangladesh

4 of 18


* Please provide the list in Annexure -D

CODE OF ETHICS: PART A – GENERAL APPLICATION OF THE CODE

D2.1 Does the firm have arrangements to ensure that all partners (including sole practitioners), employees and sub-contractors/consultants maintain the

Yes / Noprinciples set out in Sections 100 to 150 of Part A of the Code of Ethics?

D2.2 Do all partners sign annual declarations covering confidentiality, independence and fit and proper issues?

Yes / No / N/A

Sole practitioners with no staff please answer N/A.D2.3 If you answered ‘No’ to D2.1 or D2.2, please explain how your firm employs

the safeguards set out in the Code of Ethics in order to adequately mitigate any threats to integrity, objectivity, independence or confidentiality.------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

General questions

D3.1 Does the firm operate effective procedures to record the terms of engagement for all its clients? Yes / No

D3.2 If ‘No’, please state how the firm confirms with clients the services to beprovided, the basis for invoicing and their right to complain to the ICAB if the firm cannot address their concerns.

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

D3.3 Does the firm provide in house training for its all responsible individuals and audit staff to maintain their competence?

Yes / No

D3.4 Do all practitioners of the firm maintain the minimum CPD hours set by ICAB?Yes / No

D3.5 Does the firm pay the minimum allowance as per ICAB to every articled student? Yes / No

D3.6 Does the firm collect up to date Certificate of Practice (COP)Yes/No

If 'Yes' please mention the date of collection for the current year of COP

DD MM YYYY



D3.7 Does the firm maintain permanent and current audit working files as applicable?Yes / No

D3.8 Does the firm comply the requirements of Bye-Laws No. 115 of ICAB Bye-laws, 2004 relating to “Service under deed of articles"Yes / No

If 'No' please mention in details------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

D3.9 Does the firm comply the requirements of the Bye-Laws No. 116 of ICAB Bye-laws, 2004 relating to "Power to terminate the services of an articled student" Yes / No

If 'No' please mention in details

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

D3.10 Does all practitioners of the firm comply the requirements of Bye-Laws No. 144and 146 of ICAB Bye-laws, 2004 relating to engagement in any other business or occupation or part time employment? Yes /

No

If 'No' please mention in details

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

NUMBER OF AUDIT CLIENTS AS AT [DATE OF ANNUAL RETURN]

Listed Companies (other than financial institutions)

(Answer ‘0’ if none)Current Year Previous

Year

E1.1 Textile ------------------------------------

E1.2 Pharmaceutical and Chemical ------------------------------------



E1.3 Food and Allied ------------------ ------------------

E1.4 Engineering ------------------ ------------------

E1.5 Investment ------------------ ------------------

E1.6 Fuel and Power ------------------------------------

E1.7 Cement and Ceramic ------------------ ------------------

E1.8 Tannery ------------------------------------

E1.9 Paper and Printing ------------------------------------

E1.10 Information Technology ------------------ ------------------

E1.11 Service and Real Estate ------------------------------------

E1.12 Miscellaneous ------------------------------------

E1.13 Sub-total of listed companies other than financial

institutions [Sum (E1.1:E1.12)]

NB: Please provide the list of listed audit clients in Annexure-A

Listed Companies (financial institutions)

E1.14 Bank ------------------ ------------------



E1.15 Leasing and Finance ------------------------------------

E1.16 General Insurance ------------------ ------------------

E1.17 Life Insurance ------------------------------------

E1.18 Others ------------------------------------

E1.19 Sub-total of listed companies (financial institutions) [Sum (E1.14:E1.18)]

E1.20 Total of listed companies (E1.13 + E1.19)

Non-listed Companies

E1.21 Public Company ------------------ ------------------

E1.22 Private Company ------------------ ------------------

E1.23 Others ------------------------------------

E1.24 Total of non-listed companies [Sum (E1.21:E1.23)]

NB: Please provide the list of non-listed audit clients in Annexure-C



Specialised audits (being organisations, not including listed and non-listed companies stated above) where an audit report on financial statements is required by legislation governing:

E1.25 *Public Interest Entities (other than listed companies) ------------------------------------

E1.26 NGOs ------------------ ------------------

E1.27 Educational Institution ------------------------------------

E1.28 Others ------------------------------------

E1.29 Total Specialised audits [Sum (E1.25:E1.28)]

E1.30 Grand total (E1.20+E1.24+E1.29)

NB:

1. The total list of Public Interest Entities (PIEs) other than listed companies audited by the firm in current and previous year as mentioned above (E1.25) is enclosed with this annual return in “Annexure-B”

[*Public Interest Entities (PIEs) means-

The Entities fulfilling any of the following determinants or conditions:

(a) any securities issuing organisations who have the obligation for submission of report to Securities and Exchange Commission under the Securities and Exchange Commission Rule 1993;

(b) any bank companies defined by the Bank Companies Act, 1991;(c) any insurance companies defined by the Insurance ACT, 2010;(d) any financial institutions defined by the Financial Institutions Act, 1993;(e) Microcredit Institute under Microcredit Regulatory Authority Act, 2006(f) state owned companies, corporations, projects of corporations or commercial

organisations;(g) government, semi-government and autonomous bodies;



(h) non government organisations (NGO) registered with NGO Affairs Bureau, Bangladesh and receiving foreign donations under the jurisdiction of the Foreign Contributions (Regulation) Ordinance, 1982; and

(i) any other entities as may be decided upon by the Institute or any other regulation in force.]

2. In addition to the annexure referred as above, please mention the name of the audit clients managed from any of your branch offices in a separate sheet, if applicable.

3. Reference to the Circular No. 1/19/ICAB/IT/2017 dated 15 December 2017, please note that we will use the database of your audit client list based on your submitted Annual Return in ICAB ERP system for the purpose of Digital Identification of Audit Report (DIAR) through ICAB website. So, you are requested to mention the name of your audit clients and relevant information carefully to avoid any complexity in this regard in future.

E1.31 Number of audit clients where ICAB prescribed minimum audit fee (FEES’ SCHEDULE) not complied. --------------------------------------

E1.32 Do you have any assurance client whose total fee represent a large proportion of your firm’s total turnover? Yes /

No

AUDIT PROCEDURES AND COMPLIANCE

E2.1 Please confirm if your firm uses an audit practice manual (e.g. APM from ICAB)and accounts disclosure checklists which are commercially available and regularly updated via an updating service to which you subscribe.

Yes / No E2.2 If the firm has audits in Bank or Insurance or any Specialised clients in E1.29,

is appropriate audit documentation used and training provided in relationto these clients? Yes / No / N/A

E2.3 If you have answered ‘No’ to E2.1 or E2.2, please explain how your firm ensures that its procedures are fully compliant with Bangladesh Standards on Auditing and the practicing rules and regulation of ICAB and that they are regularly updated.---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

E2.4 Has the firm completed an Audit Compliance Review (ACR) during the period covered by this return? Yes / No

The practicing rules and regulations of ICAB require audit firms to carry out an ACR annually.



E2.5 If ‘No’, please explain the circumstances below but do not complete the restof this section.---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

If ‘Yes’, please complete the following:

E2.6 Date most recent ACR was completed DD MM YYYY

E2.7 Please confirm that your firm has retained a record of the ACR, covering the works done and the results, which should includes:

• a review of whole firm procedures and cold file reviews;Yes / No

• a thorough check on any follow-up actions arising from the previous ACR; andYes / No

• a thorough check on any undertakings or confirmations previously given to the the Quality Assurance Department. Yes / No

E2.8 If you answered ‘No’ to any points in E2.7, please explain how your firm is addressingthese requirements. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



ICAB ANNUAL RETURN

Issue date: <<Annual Return date of issue >>

Please return this form by 15 February2018

Standing data

We have completed most of this section using data held by ICAB.Please update, amend or complete as necessary.

If you have any questions about the data printed in these sections please contact:

• The Quality Assurance Department on (88) 096 126 121 00, (02) 911 7521 and 911 5340

Or email at [email protected]



FIRM’S INFORMATIONA1.1 Firm’s nameA1.2 Registration

numberA1.3 Address of sole or

main officeA1.4 Office space (sft.)A1.5 TelephoneA1.6 Web addressA1.7 FaxA1.8 Authorised ICAB

training office

OTHER OFFICES (BRANCH/ASSOCIATION, ETC.) DETAILSA2.1Address

A2.2Name of In-charge

A2.3Telephone

A2.4Fax

A2.6Office space (sft.)

A2.7Authorised ICAB training office

PARTNERS/PROPRIETOR – Please give details of partnersA3.1Name

A3.2Year admitted to Membership of ICAB

A3.3Role infirm

A3.4Year appointed partners

A3.5Membership number

A3.6Practicing certificate held

A3.7Email address

AUDIT CONNECTIONS – National / International linksB1.1Firm Name

B1.2Address



Annexure-A

List of Listed Companies audited by the firm as mentioned (Ref: E1.1 : E1.20)

SL #

Name of the listed Companies

RJSC Registration Number

Industry category (e.g. Bank, Insurance, Textile, Engineering etc.)

Audited by the firm in(please provide year end date)

Maintained Audit Working Files (please provide ‘√’ mark)Current year Previous year

Year(DD.MM.YY

.)

Statutory Audit

fee (Taka)

Year(DD.MM.YY

.)

Statutory Audit

fee (Taka) Permanen

t Current



Annexure-B

List of Public Interest Entities other than listed companies audited by the firm as mentioned(Ref: E1.25)

SL #

Name of the specialised clients

RJSC Registration Number

(If applicable)

Client category

(e.g. Non-listed Bank,

Insurance, Financial

Institution, state owned companies,

corporations, NGOs etc.)

Audited by the firm in

(please provide year end date)

Maintained Audit Working Files (please provide ‘√’ mark)

Current year

(dd. mm. yy.)

Previous year

(dd. mm. yy.)

Permanent

Current



Annexure-C

List of non-listed companies (Public, Private & Others) audited by the firm as mentioned

(Ref: E 1.21 : E 1.23)

SL #

Name of the non-listed

clients

RJSC/ Other Registration Number

Client category(Public,

Private & Others.)

Audited by the firm in(please provide year

end date)

Maintained Audit Working Files (please provide ‘√’ mark)

Current year

(dd. mm. yy.)

Previous year

(dd. mm. yy.)

Permanent

Current





Annexure-D

List of Articled students as on 31st December 2017 (Ref: D 1.5 & D 1.6)

SL #

Name of the student

ICAB Registration Number

Name of principa

l

Article ship period

Does the firm pay

the minimum allowance

as per ICAB?(Y / N)

Is allowanc

e transferr

ed to individual

bank account?

(Y / N)

from to


Documents

Year - icab.org.bd · Web viewEmail address. Audit connections – National / International links. B1.1. Firm Name. ... Textile, Engineering etc.) Audited by the firm in (please