Laws of Bangladesh

The Bangladesh Banks (Nationalisation) Order, 1972 (President's Order)


24. (1) The accounts of every new bank shall be audited by not less than two auditors, being chartered accountants within the meaning of the 1[Bangladesh Chartered Accountants Order, 1973 (P.O. No. 2 of 1973)], who shall be appointed by the Government for a term not exceeding three years on such remuneration as it may fix.
(2) Notwithstanding anything contained in clause (1), the Bangladesh Bank may appoint such auditor as it thinks fit to examine and report upon the accounts of any new bank.
(3) Every auditor shall be supplied with a copy of the annual balance-sheet and statement of profit and loss and he shall examine it with the accounts and vouchers relating thereto, and shall have a list delivered to him of all books kept by the bank, and shall at all reasonable times have access to the books, accounts and other documents of the bank, and may employ accountants or other persons to assist him in the investigation of such accounts, and may, in relation to such accounts, examine any Director or officer of the bank.
(4) The auditors shall report to the 2[Board] upon the annual balance-sheet and accounts, and in their report they shall state whether, in their opinion, in balance-sheet is a full and fair balance-sheet containing the prescribed particulars and properly drawn up so as to exhibit a true and correct view of the state of the bank's affairs, and in case they have called for any explanation or information from the Board, whether it has been given and whether it is satisfactory.
3[(5) The bank shall, within 90 days after the end of every financial year, furnish to the Government and the Bangladesh Bank a copy of the auditors report along with a copy of the audited balance sheet and a copy of profit and loss account for the year and a report on the working of the bank during the year:
Provided that the Bangladesh Bank may in special circumstances extend the said period of 90 days for furnishing of such report by a further period not exceeding 90 days.]
4[(6) The audited balance sheets and the profit and loss accounts received by the Government under clause (5) shall be published in official Gazette and shall be laid before the Parliament.]

  • 1
    The words, comma, figures, brackets and letters “Bangladesh Chartered Accountants Order, 1973 (President’s Order No. 2 of 1973)” were substituted for the words, comma, figures and brackets “Chartered Accountants Ordinance, 1961 (Ordinance X of 1961)” by section 2 and the Schedule of the Banks and Financial Institutions Laws Amendment Act, 1980 (Act No. IX of 1980)
  • 2
    The word “Board” was substituted for the word “Government” by section 6 of the Bangladesh Bank (Nationalisation) (Amendment) Act, 2003 (Act No. X of 2003)
  • 3
    Clause 5 was substituted by section 6 of the Bangladesh Bank (Nationalisation) (Amendment) Act, 2003 (Act No. X of 2003)
  • 4
    Clause (6) was inserted by Article 2 of the Bangladesh Banks (Nationalisation) (Second Amendment) Order, 1972 (President’s Order No. 132 of 1972)
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