DHAKA, June 7, 2022 (BSS) - The Institute of Chartered Accountants of
Bangladesh (ICAB) and the NGO Affairs Bureau (NGOAB) of the Prime Minister's
Office signed a Memorandum of Understanding (MoU) at a ceremony held at the
latter's premises today.

Under the MoU, NGO Affairs Bureau will get access to use documents
verification system (DVS) for verifying the authenticity of audited financial
statements of different NGOs.

Md Shahadat Hossain, President of ICAB and KM Tariqul Islam, Director General
(Grade-1) NGO Affairs Bureau, the Prime Minister's Office signed the MoU on
behalf of their respective sides, said a press release.

ICAB vice president NKA Mobin, council member Mohammed Forkan Uddin, NGO
Affairs Bureau's Director Ashfaqur Islam Babul, Director Jinat Ara and Deputy
Director Md. Anwar Hossain, also spoke on the occasion.

ICAB chief operating officer Mahbub Ahmed Siddique was present, among others,
on the occasion.

DVS has already become quite acceptable to the business community and other
regulatory bodies. ICAB has similar arrangement with National Board of
Revenue (NBR), Financial Reporting Council (FRC), Bangladesh Securities and
Exchange Commission (BSEC) and Registrar of Joint Stock Companies and Firms
(RJSC).

DVS will make the accounting system more acceptable and reliable. ICAB
introduced this software data base document verification system (DVS) from 1
December 2020 to curb malpractice of producing multiple financial statements
and to establish transparency and accountability in the accounting system of
the country.