BSEC bans 3 firms over Ring Shine audits

• The securities regulator has taken punitive action against three audit firms and their three partners over serious irregularities in the auditing of Ring Shine Textiles Limited.
• The Bangladesh Securities and Exchange Commission (BSEC) has imposed a three-year ban on the audit firms Ata Khan & Co., Mahfel Huq & Co., and Shiraz Khan Basak & Co.
• In addition, a five-year ban has been imposed on Maqbul Ahmed, partner of Ata Khan & Co.; Md. Abdus Sattar, partner of Mahfel Huq & Co.; and Ramendra Nath Basak, partner of Shiraz Khan Basak & Co. The regulator found that the audited financial statements did not present a true and fair view of the company’s financial position.

https://today.thefinancialexpress.com.bd/stock-corporate/bsec-bans-3-firms-over-ring-shine-audits-1777305281