Financial statement audits in Bangladesh

A financial statement audit is more than a regulatory requirement. It is a valuable process that strengthens your company's financial credibility, improves stakeholder confidence, and helps identify opportunities to enhance internal controls.

GTM Consultancy provides audits and assurance services in Bangladesh for private limited companies, public companies, NGOs, manufacturing businesses, trading firms, service companies, and other organizations.

Our financial statement audit services in Bangladesh help organizations comply with the Companies Act, International Standards on Auditing (ISA), International Financial Reporting Standards (IFRS), and applicable Bangladesh Financial Reporting Standards (BFRS).

Request an Audit Proposal

Financial statement audits in Bangladesh

Financial statement audit services we provide

Different organisations face different audit risks. A trading company may have stock and import records to verify. A service business may need closer checks on revenue, expenses and receivables. We adjust the audit scope based on your business activities, reporting duties and financial records.

Statutory financial statement audit

We conduct annual statutory audits for companies as well as organisations that must submit audited financial statements under applicable laws or regulatory requirements.

Private limited company audit

Our team reviews company accounts, bank balances, sales, expenses, tax records, director accounts and supporting documents before issuing the audit report.

Manufacturing company audit

Factory audits may cover raw materials, production costs, work in progress, finished goods, machinery, depreciation, wastage and year-end inventory balances.

Trading & export-import business audit

We examine purchase records, import documents, letters of credit, customs papers, landed costs, supplier balances, foreign currency transactions & stock records.

Service company audit

For service-based businesses, we check revenue recognition, customer balances, advance payments, payroll, subcontractor costs, outstanding expenses and tax deductions.

NGO and project audit

We audit grant income, project expenses, payroll, procurement records, fund utilisation, and donor-related financial reports based on the agreed scope.

Consolidated financial statement audit

For business groups, we review subsidiary accounts, intercompany transactions, shared expenses, related-party balances and consolidation adjustments.

Special-purpose financial audit

A special-purpose audit may be required for bank loans, investors, tenders, business transfers, regulatory submissions or a specific project. The scope is agreed before the work starts.

Interim financial statement audit

An interim audit is completed before the financial year ends. It helps identify accounting gaps, unreconciled balances, makes the final audit smoother and less rushed.

Call For Service: +880 1713 155299

Importance of financial statement audits for Bangladeshi businesses

A financial statement audit gives a business a clear picture of whether its accounts are complete, accurate, and properly maintained. In Bangladesh, audited statements are often needed for annual compliance, tax work, bank financing, tenders, and investor reporting.

The audit may also uncover missing records, unusual transactions, or accounting mistakes before they create a larger problem. For owners, setting up a business is not only a formal requirement. It is also a practical way to build trust with banks, shareholders, regulators, donors, and business partners.

Who needs financial statement audits?

Financial statement audits are not only for large companies. Many smaller businesses, NGOs and growing organisations also need audited accounts for legal, financial or internal reasons. You need an audit if you run:

Private limited or public limited company
Manufacturing or trading business
NGO, foundation or development project
A business applying for a bank loan
Company looking for investors
Group of companies
Business preparing for sale or restructuring
Organisation with regulatory reporting duties

Documents commonly required for an audit

Not every organisation will have all these documents. Missing records do not always stop the audit, but they can affect the work, deadline or audit opinion. It is better to point out the gap early. The requested documents may include:

Trial balance and general ledger
Draft financial statements
Bank statements and reconciliation reports
Sales and purchase records
Expense vouchers and invoices
Customer and supplier schedules
Inventory reports
Fixed asset register
Loan and lease documents
Payroll sheets
VAT and income tax records
Company incorporation documents
Board and shareholder meeting minutes
Major contracts and agreements
Previous audit report
Details of related-party transactions

Talk to Our Audit Team: +880 1713 155299

Ready to improve your business systems?

Get expert guidance on financial statement audits and digital operations. Call +880 1713 155299 and discuss your business needs with GTM Consultancy.

Need Digital
Business Solutions?

Book a Consultation Or

Call us
+880 1713 155299

Our financial statement audit process

A good audit needs organised records, clear communication and enough time for review. We follow a practical process so the work stays focused and unnecessary delays are avoided.

Initial discussion

We first learn about the business, reporting period, company structure and reason for the audit. We also check whether the audit is needed for RJSC, tax, bank, donor or internal reporting purposes.

Audit scope and engagement

After understanding the requirement, we define the audit scope, expected timeline and professional fee. The agreed terms are then recorded in the engagement letter.

Document collection

Our team shares a document checklist based on the nature of the organisation. This may include the trial balance, ledger, bank statements, invoices, tax records, stock reports and company documents.

Risk assessment and audit planning

We identify areas where errors are more likely. For example, a factory may need closer review of inventory and production costs, while a service company may require more attention to revenue and outstanding expenses.

Fieldwork and verification

The audit team checks selected transactions, supporting documents and account balances. We may also review bank confirmations, customer balances, supplier records, fixed assets, payroll and year-end adjustments.

Final review and audit report

Once the audit work is complete, the financial statements go through a final review. The auditor then issues the audit report based on the evidence collected and the matters identified during the audit.

Schedule a Consultation

Why choose GTM Consultancy for financial statement audits?

GTM Consultancy is a trusted financial audit firm in Bangladesh. We focus on understanding your business rather than simply reviewing numbers. Our audit team combines technical expertise with industry knowledge to deliver independent, accurate, and practical audit services.

Experienced audit professionals.
Industry-specific expertise.
Independent & objective reporting.
Transparent audit methodology.
Timely project completion.
Confidential handling of financial information.
Compliance with international auditing standards.
Detailed management recommendations.
Practical risk mitigation strategies.
Responsive client support.

Schedule an Audit: +880 1713 155299

Book a financial statement audit in Bangladesh

Need audited accounts for annual compliance, tax filing, a bank application or shareholder reporting? GTM Consultancy is here to help your business. We can review the expected scope, reporting period, company structure, and available accounting records. Contact us or send us your basic company details to request an audit proposal.

Schedule Your Audit: +880 1713 155299

FAQs about financial statement audits in Bangladesh

The questions below cover the common concerns businesses have before arranging a financial statement audit in Bangladesh. They explain audit requirements, timing, cost, documents, and what happens when errors are found.

Is a financial statement audit mandatory in Bangladesh?

It depends on the legal form and regulatory position of the organisation. Companies and some regulated entities may have statutory audit and financial reporting obligations. Banks, donors, investors and government authorities may also request audited statements for specific purposes.

How long does a financial statement audit take?

A small company with organised records may complete the process within a few working weeks. A larger company, factory, group or organisation with missing reconciliations will usually need longer. The timing also depends on how quickly documents and explanations are provided.

Can an auditor prepare the accounts and audit the same financial statements?

Management is responsible for preparing as well as approving the financial statements. An audit firm must consider independence and ethical requirements before providing any additional accounting assistance. The permitted level of support mainly depends on the circumstances and applicable professional rules.

What happens when the auditor finds an error?

The matter is discussed with management. Where appropriate, management may correct the accounts or add a required disclosure. If a material issue remains unresolved, it may affect the wording or type of audit opinion.

Does an audit detect every fraud?

No audit can guarantee that every fraud or error will be found. An audit is designed to obtain reasonable assurance, not absolute assurance. The auditor assesses risk and performs procedures aimed at identifying material misstatements.

Do you provide audits outside Dhaka?

Audit work can be arranged for organisations with offices, factories, warehouses or project locations outside Dhaka. The proposal will consider travel, site visits, stock observation and the location of accounting records.

বাংলাদেশে ফাইন্যান্সিয়াল স্টেটমেন্ট অডিট কেন প্রয়োজন?

কোম্পানির আয়, ব্যয়, সম্পদ, দায় এবং মুনাফার হিসাব ঠিক আছে কি না, তা যাচাই করতে অডিট করা হয়। ব্যাংক ঋণ, ট্যাক্স রিটার্ন, বিনিয়োগকারী রিপোর্ট এবং বার্ষিক কমপ্লায়েন্সের জন্যও অডিটেড ফাইন্যান্সিয়াল স্টেটমেন্ট প্রয়োজন হতে পারে।

বাংলাদেশে ফাইন্যান্সিয়াল স্টেটমেন্ট অডিটের খরচ কত?

অডিটের জন্য নির্দিষ্ট একক ফি নেই। প্রতিষ্ঠানের আকার, লেনদেনের সংখ্যা, শাখা, ইনভেন্টরি, হিসাবের অবস্থা এবং রিপোর্ট জমা দেওয়ার সময়সীমার ওপর খরচ নির্ভর করে। কাজের পরিধি দেখে সাধারণত অডিট প্রপোজাল দেওয়া হয়।