Regulatory Alerts2013-10-10
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DOS Circular No 04: Submission of Management Report (Confidential Part)
Scheduled banks in Bangladesh must submit the management report prepared by external auditors to the Department of Off-Site Supervision within 75 days of the end of the financial year. This requirement supersedes the previous deadline and renders DOS Circular No. 13 dated October 12, 2006, null and void.
DEPARTMENT OF OFF-SITE SUPERVISION BANGLADESH BANK CHIEF EXECUTIVE
Ref No: 16.00.0000.004.04.001.13-102
DOS Circular No. 04 Date: 10 October, 2013 25 Ashwin, 1420
To, The Chief Executive/Managing Director All Banks Operating in Bangladesh.
Dear Sir,
Regarding the submission of the Management Report to Bangladesh Bank.
Under Section 40 of the Bank Company Act, 1991 (amended up to 2013), there is an instruction for scheduled banks to submit the approved audited financial statements to Bangladesh Bank within two months of the end of the accounting year. In this regard, Bangladesh Bank has decided that henceforth, banks must mandatorily submit the Management Report prepared by the external auditor to the Department of Off-Site Supervision within 75 (seventy-five) days of the end of the financial year, in order to examine the audited financial statements of banks and determine the true financial position.
In this regard, DOS Circular Letter No. 13 issued on October 12, 2006, shall be considered void.
Please acknowledge receipt.
Yours faithfully,
(Signature) (S. M. Rabiul Hasan) General Manager Phone: 9530093
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