Professional Documents
Culture Documents
Standards (BAS)
IAS/ BAS
Effective DateApplicable on or
after
1
2
7
8
10
11
12
16
17
18
19
20
21
23
24
26
27
28
29
31
32
33
34
36
37
38
39
40
41
1 Jan 2007
1 Jan 2007
1 Jan 1999
1 Jan 2007
1 Jan 1999
1 Jan 1999
1 Jan 1999
1 Jan 2007
1 Jan 2007
1 Jan 2007
1 Jan 2004
1 Jan 1999
1 Jan 2007
1 Jan 2010
1 Jan 2007
1 Jan 2007
1 Jan 2010
1 Jan 2007
Not adopted
1 Jan 2007
1 Jan 2010
1 Jan 2007
1 Jan 1999
1 Jan 2005
1 Jan 2007
1 Jan 2005
1 Jan 2010
1 Jan 2007
1 Jan 2007
Adoption Status of International Financial Reporting Standards (IFRS) by ICAB as Bangladesh Financial
Reporting Standards (BFRS)
SL
#
IFRS /
BFRS
Effective DateApplicable on or
after
1.
BFRS 1
1 Jan 2009
2.
BFRS 2
BFRS 3
BFRS 4
BFRS 5
Share-based Payment
Business Combinations
Insurance Contracts
Non-current Assets Held for Sale and Discontinued
Operations
Exploration & evaluation of Mineral Resources
Financial Instruments: Disclosures
Operating Segments
Financial Instruments
Consolidated Financial Statements
Joint Arrangements
Disclosure of Interests in Other Entities
Fair Value Measurement
1 Jan 2007
1 Jan 2010
1 Jan 2010
1 Jan 2007
1 Jan 2013
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
BFRS 6
BFRS 7
BFRS 8
IFRS 9
BFRS 10
BFRS 11
BFRS 12
BFRS 13
1 Jan 2007
1 Jan 2010
1 Jan 2010
Not Adopted
1 Jan 2013
1 Jan 2013
1 Jan 2013
1 Jan 2013
ISA/
BSA
1.
200
2.
3.
4.
5.
6.
7.
8.
210
220
230
240
250
260
265
9. 300
10. 315
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
320
330
402
450
500
501
505
510
520
530
21. 540
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.
33.
34.
35.
36.
Environment
Materiality in Planning and Performing an Audit
The Auditors Responses to Assessed Risks
Audit Considerations Relating to Entities Using Service Organization
Evaluation of Misstatements Identified during the Audit
Audit Evidence
Audit EvidenceSpecific Considerations for Selected Items
External Confirmations
Initial Audit EngagementsOpening Balances
Analytical Procedures
Audit Sampling
Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related
Disclosures
550 Related Parties
560 Subsequent Events
570 Going Concern
580 Written Representations
600 Special ConsiderationsAudits of Group FS (including Work of Component Auditors)
610 Using the Work of Internal Auditors
620 Using the Work of an Auditors Expert
700 Forming an Opinion and Reporting on Financial Statements
705 Modifications to the Opinion in the Independent Auditors Report
706 Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent
Auditors Report
710 Comparative InformationCorresponding Figures and Comparative FS
720 The Auditors Responsibilities Relating to Other Information in Documents Containing
Audited FS
800 Special ConsiderationsAudits of FS Prepared in Accordance with Special Purpose
Frameworks
805 Special Considerations Audits of Single FS and Specific Elements, Accounts or Items of
FS
810 Engagements to Report on Summary Financial Statements
Total BSA / Code of Ethics /BSQC 1 /Framework
Adoption Status of International Auditing Practice Statements (IAP by ICAB as Bangladesh Auditing
Practice Statements (BAPS)
Sl. #
1.
2.
3.
4.
5.
6.
7.
8.
IAPS / BAPS
1000
1004
1005
1006
1010
1012
1013
1014
BAPS Title
Inter-Bank Confirmation Procedures
The Relationship Between Banking Supervisors and Banks External Auditors
The Special Considerations in the Audit of Small Entities(withdrawn in 2010)
Audits of the Financial Statements of the Banks
The Consideration of Environmental Matters in Audit of Financial Statements
Auditing Derivative Financial Statements
Electronic Commerce-Effect on the Audit of Financial Statements
Reporting by Auditors on Compliance with IFRS (withdrawn in 2010)
International Public Sector Accounting Standards (IPSAS) 2011 (Not Adopted by ICAB)
Cash Basis IPSASFinancial Reporting Under the Cash Basis of Accounting
IPSAS 1Presentation of Financial Statements
IPSAS 2Cash Flow Statements
IPSAS 3Accounting Policies, Changes in Accounting Estimates and Errors
IPSAS 4The Effects of Changes in Foreign Exchange Rates
IPSAS 5Borrowing Costs
IPSAS 6Consolidated and Separate Financial Statements
IPSAS 7Investments in Associates
IPSAS 8Interests in Joint Ventures
IPSAS 9Revenue from Exchange Transactions
IPSAS 10Financial Reporting in Hyperinflationary Economies
IPSAS 11Construction Contracts
IPSAS 12Inventories
IPSAS 13Leases
IPSAS 14Events after the Reporting Date
IPSAS 15Financial Instruments: Disclosure and Presentation
IPSAS 16Investment Property
IPSAS 17Property, Plant, and Equipment
IPSAS 18Segment Reporting
IPSAS 19Provisions, Contingent Liabilities and Contingent Assets
IPSAS 20Related Party Disclosures
ACRONYMS / ABBREVIATIONS
ADB
- Asian Development Bank
AP
- Audit Practices
BAPS
- Bangladesh Audit Practice
Statements
BAS
- Bangladesh Accounting
Standards
BB
- Bangladesh Bank
BFRS
- Bangladesh Financial Reporting
Standards
BSA
- Bangladesh Standards on
Auditing
CAG
- Comptroller and Auditor
General
CAPA
- Confederation of Asian and
Pacific Accounts
CFAA
- Country Financial Accountability
Assessment
CGA
- Controller General of Accounts
CIDA
- Canadian International
Development Agency
CPD
- Continuing Professional
Development
DFID
- Department for International
Development
DSE
- Dhaka Stock Exchange
EDC
- Eurozone Debt Crisis
FASB
- Federal Accounting Standards
Board
FEE
- Federation European
Encompatables
FR
- Financial Reporting
FRA
- Financial Reporting Act
FRC
- Financial Reporting Council
FS
- Financial Statements
GAAP
- Generally Accepted Accounting
Principles
GAO
- Government Accountability
Office
GATS
- General Agreement on Trade in
Services
GATT
- General Agreement on Tariffs
and Trades
GFC
- Global Financial Crisis
HFR&AP - Harmonization of Financial
Reporting and Audit Practices
IAASB
- International Auditing and
Assurance Standards Board
IAPS
- International Audit Practice
Statements
IAS
- International Accounting
Standard
IASB
- International Accounting
Standards Board
ICAB
- Institute of Chartered
Accountants of Bangladesh
ICMAB
- Institute of Cost and
Management and Accountants of Bangladesh
IES
- International Educational
Standards
IFAC
- International Federation of
Accountants
IFRIC
- International Financial
Reporting Interpretations Committee
IFRS
- International Financial
Reporting Standards
IMF
- International Monitory Fund
INTOSAI
International Organization of
Supreme Audit Institutions
IOSCO
- International Organization of
Securities Commissions
IPSAS
- International Public Sector
Accounting Standards
IPSASB
- International Public Sector
Accounting Standards Board
ISA
- International Standards on
Auditing
ISAR
- International Standards on
Accounting and Reporting
ISSAIs
- The International Standards of
Supreme Audit Institutions
MFI
- Micro Finance Institutions
NBR
- National Board of Revenue
NGO
- Non Government Organization
NYSE
- New York Stock Exchange
OCAG
- Office of the Comptroller and
Auditor General
PPP
- Public Private Partnership
PSFM
- Public Sector Financial
Management
SAFA
- South Asian Federation of
Accountants
SAFA
- South Asian federation of
Accountants
SAI
- Supreme Audit Institutions
SEC
- Securities and Exchange
Commission
SEC
- Security Exchange Commission
SER
- Securities and Exchange Rules
SME
- Small and Medium Enterprises
SMO
- Statement of Membership
Obligations
UN
- United Nations
UNCTAD
- United Nations Conference on
Trade and Development
WB
- World Bank
WTO
- World Trade Organization