Three auditors suspended, fined Tk19 lakh for misconduct in audit
The disciplinary actions were approved at the council of ICAB’s meeting held on 16 June 2026.
The Institute of Chartered Accountants of Bangladesh (ICAB) has suspended three chartered accountants from practising statutory audits and imposed a combined penalty of Tk19 lakh following recommendations from its investigation and disciplinary committee.
The disciplinary actions were approved at the council of ICAB's meeting held on 16 June 2026. The decisions took effect from 6 July. They faced punishment for misconduct in audit practice.
Those suspended
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Salim Ullah Bahadur, partner of M I Chowdhury & Co, Chartered Accountants, has been suspended from statutory audit practice for 18 months and fined Tk9 lakh.
Md Kamrul Hasan, partner of Mahamud Sabuj & Co, has been suspended for 12 months and fined Tk5 lakh. Md Farhad Husain Suman, partner of K M Hasan & Co, has faced a suspension for 12 months and a fine of Tk5 lakh.
Under ICAB's orders, failure to pay the penalties within three months will result in an additional three-month suspension. If the fines remain unpaid after that period, the suspensions will continue until the penalties are fully paid.
Implications for listed-company audits
M I Chowdhury & Co and Mahamud Sabuj & Co, along with their respective partners, are enrolled on the Bangladesh Securities and Exchange Commission auditors panel for statutory audits of listed companies.
K M Hasan & Co is also enrolled on the BSEC panel, although Farhad Husain Suman himself is not individually enrolled on the panel.
Due to the ICAB disciplinary actions, the suspended partners cannot prepare statutory audit reports for listed companies during their suspension periods, a senior BSEC official told TBS.
