Audit Committee in Banks: Current Regulatory Framework and Disclosure Practices in Bangladesh

The Cost and Management, Vol. 35, No.2, pp. 5-18, March-April 2007

16 Pages Posted: 25 Aug 2008

See all articles by Md. Hamid Ullah Bhuiyan

Md. Hamid Ullah Bhuiyan

University of Dhaka - Department of Accounting and Information Systems

Dewan Mahboob Hossain

University of Dhaka

Pallab Kumar Biswas

University of Otago

Date Written: August, 23 2008

Abstract

This paper has critically analyzed the current regulatory framework of audit committee in public limited banks in Bangladesh and highlighted the Audit Committee disclosure practices by surveying all the listed banks (25) as on 30 November, 2006. After analyzing the Securities and Exchange Commission (SEC) notification and BRPD Circular, 15 disclosure variables have been identified and Audit Committee Disclosure Index (ACDI) has been computed for all the listed banks. It has been found some inconsistencies in the regulatory frameworks. Moreover, the survey findings show that the listed banks are disclosing audit committee information in varying degree (26.67 to 86.67) and in different locations of the annual report. The study also expresses its cautionary note on using chairman, vice-chairman, managing director in the audit committee, lack of existence of independent director in the committee, educational qualification of the members.

Suggested Citation

Bhuiyan, Md. Hamid Ullah and Hossain, Dewan Mahboob and Biswas, Pallab Kumar, Audit Committee in Banks: Current Regulatory Framework and Disclosure Practices in Bangladesh (August, 23 2008). The Cost and Management, Vol. 35, No.2, pp. 5-18, March-April 2007 . Available at SSRN: https://ssrn.com/abstract=1250582

Md. Hamid Ullah Bhuiyan

University of Dhaka - Department of Accounting and Information Systems ( email )

University of Dhaka
Ramna, Dhaka, 1000
Bangladesh

Dewan Mahboob Hossain

University of Dhaka ( email )

Dhaka
Bangladesh

Pallab Kumar Biswas (Contact Author)

University of Otago ( email )

P.O. Box 56
Dunedin, Otago 9010
New Zealand
+64 3 679 8108 (Phone)

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