Audit needed for zero taxpayers, says Finance Adviser

Finance Adviser Dr. Salehuddin Ahmed has called for a thorough audit of individuals and entities reporting zero income tax. He expressed skepticism over the National Board of Revenue’s (NBR) claim that 70 out of every 100 taxpayers pay no tax, stating the figure is “not credible” and deserves scrutiny.

Dr. Ahmed made the remarks while addressing the Audit and Accounting Summit held at Hotel Sonargaon in the capital. The event featured a keynote presentation by Financial Reporting Council (FRC) Chairman Dr. Sazzad Hossain Bhuiyan.

“Transparency and accountability hinge on effective auditing and accounting,” said Dr. Ahmed. “But above all, integrity and honesty of those involved in the process are crucial. Many organizations submit audit reports of poor quality, which undermines the entire system.”

Highlighting the urgency of auditing NBR’s processes, he questioned the reliability of tax data, including the claim that 1.8 million returns have been filed. He urged auditors to conduct audits with insight and independence. “If we want to attract foreign investment, we must prioritize the credibility of our auditing and accounting practices,” he added.

Dr. Ahmed also addressed ongoing reforms in the financial sector, noting, “There are misconceptions that reforms are being imposed solely by the World Bank and IMF. In reality, the government is also taking its own initiative. Constructive steps should be recognized and supported.”

Bangladesh Bank Governor Dr. Ahsan H. Mansur echoed similar concerns, pointing out irregularities in many banks’ audit reports. “From January 1, 2026, risk-based supervision will be fully implemented,” he announced. “To build trust with both domestic and foreign investors, audit reports must be accurate and transparent. Bangladesh Bank will work jointly to ensure this.”

He criticized several government entities for not cooperating during audits and stressed that organizations failing to follow accounting standards should face penalties.

Anti-Corruption Commission Chairman Abdul Momen issued a strong warning regarding auditor integrity. “If I were to judge based on current audit reports, I would find very few truly transparent auditors,” he said.

Citing IFIC Bank as an example, he alleged that businessman Salman F. Rahman had used falsified audit data to inflate the value of a paper company and acquire funds. “Despite repeated financial irregularities in the banking sector during the previous regime, Bangladesh Bank failed to act,” he added. “Although a leading audit firm was identified for concealing fraudulent reports, no visible action has been taken.”

The summit concluded with renewed calls for transparency, regulatory reform, and accountability in Bangladesh’s auditing and financial reporting systems.