The Dhaka Stock Exchange (DSE) has finally changed its auditor after 36 long years.
Earlier, A Qasem & Co Chartered Accountants used to be the country’s premier bourse’s auditor. Now, the DSE has appointed Hoda Vasi Chowdhury & Co Chartered Accountants for auditing its financial statements for the 2023-24 fiscal year in a move to ensure transparency and diversification.
In the DSE’s annual general meeting (AGM) held on 21 December, the bourse’s shareholders approved the auditor change.
Dhaka bourse’s Managing Director ATM Tariquzzaman told TBS, “In the AGM, shareholders have approved the proposal of changing auditor, and a new auditor has been appointed for the next fiscal year.”
The shareholders of the DSE have also approved a 4% cash dividend for FY23. In the previous fiscal year, the DSE had paid a 6% cash dividend to its shareholders.
According to DSE’s annual report, the bourse had witnessed a significant drop in revenue and profit in the fiscal 2022-23, owing to stock market volatility and lower share transactions amid floor prices.
According to its FY23 financials, revenue fell by 25% to Tk238 crore, which is the lowest since the fiscal 2019-20.
Its net profit after tax declined to Tk80 crore, 35% lower than the previous fiscal year.