Photo: ICAB

DHAKA, Nov 24, 2025 (BSS) - The Institute of Chartered Accountants of Bangladesh (ICAB) and the Institute of Chartered Accountants in England and Wales (ICAEW) formally signed the Extension Agreement to the existing ICAEW–ICAB Memorandum of Understanding (MoU) recently at Chartered Accountants' Hall, Moorgate Place, London, UK. 

The renewed agreement strengthens the long-standing collaboration between the two bodies and ensures the continued validity of the mutual recognition and cooperation framework that facilitates membership pathways and joint educational initiatives.

During the signing ceremony, ICAB President NKA Mobin highlighted the historic partnership between ICAB and ICAEW and expressed ICAB’s firm commitment to deepening collaboration in strategic areas, including artificial intelligence, ESG reporting, and audit software integration. 

ICAEW President Derek Blair reaffirmed ICAEW’s dedication to supporting ICAB in capacity building and professional development, emphasising the need for both bodies to adapt to global transformation in the accountancy profession, said a press release today.

A technical knowledge-sharing session was also held focusing on key areas of audit quality assurance, including audit monitoring cycles and risk-based visit approaches, the implementation of ISQM 1, file review methodologies, and follow-up processes for non-compliance. 

ICAB delegates expressed interest in adopting comparable monitoring frameworks to further strengthen audit quality and regulatory oversight in Bangladesh. Both institutions agreed to explore future cooperation in training and capacity building for ICAB’s monitoring and disciplinary functions.

The delegation also discussed ICAEW’s recently launched Next Generation ACA qualification, designed to equip future accountants with expertise in data analytics, technology, and specialist learning pathways. 

ICAB explored opportunities to integrate elements of the curriculum into its own qualification framework and examined options for ICAB members to obtain ICAEW auditing rights, including requirements for supervised experience and examinations.

The renewed partnership is expected to reinforce professional mobility, enhance audit quality, and contribute to the development of a more future-ready accountancy profession in Bangladesh and beyond.

ICAB was represented by President NKA Mobin, Vice Presidents Suraiya Zannath and Md. Rokonuzzaman, ICAB UK Chapter Chairman AKM Fazlur Rahman and Chief Operating Officer Mahbub Ahmed Siddique. 

ICAEW representatives included President Derek Blair, Senior International Business Development Manager Daniel Westley, Head of Audit (Quality Assurance Department) Nick Reynolds, and Director of Qualifications and Training Shaun Robertson.