Based on our extensive experience in conducting internal audits on behalf of Japanese companies in Bangladesh, this series provides basic knowledge that may be useful for those in charge of conducting internal audits in Bangladesh (internal auditors and auditors, management posted to Bangladesh, global management at headquarters, and external auditors who need to conduct site visits as part of a group audit).The sixth issue of this series will introduce basic knowledge that may be useful for those audit firms that need to conduct site visits to Bangladesh sites as part of their group audits.
In this sixth issue, we will discuss the Bangladeshi audit profession – Chartered Accountants.
Number of Chartered Accountants in Bangladesh
As of July 2024, there are only about 2,000 Chartered Accountants (CAs) and Fellow Certified Accountants (FCAs) in Bangladesh, of which 30% (about 600) are practicing in audit firms and accounting firms, and 70% (1,400) are in-house accountants, educational institutions, government agencies, and expatriate workers.On the other hand, the number of certified public accountants in Japan is only about 30% of the total.On the other hand, Japan has about 44,000 CPAs, of which 60% or about 26,000 work for accounting firms, independent practices, and government agencies, etc. Of these, 36% or about 16,000 work for auditing firms, and the rest are in-house accountants.Since all companies in Bangladesh are required to be audited, this means that only about 600 people are conducting audits of tens of thousands of companies.
Process to become a Chartered Accountant (CPA) in Bangladesh
To become a Chartered Accountant (CA) or Fellow Chartered Accountant (FCA) in Bangladesh, you need to go through the following process based on the ICAB (Institute of Chartered Accountants of Bangladesh) system.The following process is required to become an ICAB (Institute of Chartered Accountants of Bangladesh) Fellow Chartered Accountant
When outsourcing internal audits to local external experts in Bangladesh, careful judgment is required as to which qualification holder will be in charge, how many audit staff of what level will be assigned, and whether the structure is sufficient to achieve the audit objectives.
STEP 1] Qualification for membership: Registration with ICAB (enrollment in CA course) *Prescribed requirements such as university undergraduate degree.
STEP 2] Articleship (practical training: 3-4 years)
- Practice at an audit firm or CA firm registered with ICA (ICAB)
- Normally 3 years of practical training required (4 years under specific conditions)
- Also take professional examinations in stages during Articleship
STEP 3] CA Examinations (ICAB Professional Examinations)
The examinations are divided into the following three stages, with a total of 16 subjects (as of 2025):
🔹1. Knowledge Level (Basic)
Accounting
Management & Financial Accounting
Quantitative Techniques
Business Communication
Business & Commercial Laws
IT & MIS
🔹2. Application Level
Audit & Assurance
Financial Management
Taxation
Cost Accounting
Corporate Laws & Practices
Business Strategy
🔹3. Advanced Level
Advanced Financial Reporting
Advanced Auditing & Professional Ethics
Corporate Governance & Strategic Management
Integrated Case Study
STEP 4] ICAB admission procedures: Application for admission + interview, ethics oath, etc.
STEP 5] Promotion to FCA (Fellow CA)
At least 5 years of post-registration work experience: Independent practice or senior position as a CPA
Application for ICAB’s Fellow certification: Submission of continuing education (CPD), professional experience certificate, etc.
Payment of annual dues and maintenance of registration: Registration on the FCA roster and payment of renewal fee are required
When conducting an accounting audit, the FCA or CA is usually the responsible party, and several people are usually working as Articleships to assist in the audit.