Regulatory Alerts2026-07-05
Added · Updated
FEPD-1 Circular No. 18: Appointment of Audit Firms for Auditing of Export Incentive/Export Subsidy
The document mandates that applications for cash assistance or export subsidies for the 2026-2027 fiscal year must be audited by the same number of audit firms currently appointed by the bank for its own audits, subject to prior approval from the Foreign Exchange Policy Department-1 of Bangladesh Bank. If additional audit firms are required beyond those currently appointed, banks must submit an application to the aforementioned department detailing the justification, the firms' previous tenure at the bank, the volume of subsidy cases, and the necessary information to obtain approval for the increased number of firms. Previous instructions regarding audit programs from Circular No. 10 (July 08, 2024) and Circular No. 20 (December 03, 2023) remain in full effect.
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