By Vivienne Russell | 15 December 2014

CIPFA has deepened its efforts to strengthen public financial management in Bangladesh, signing a memorandum of understanding with the Institute of Cost and Management Accountants of Bangladesh.

The MoU sets out the basis for collaboration and co-operation between the two institutes and paves the way for dual membership for both parties and the development of the public sector accountancy profession in Bangladesh.

CIPFA president Mike Own, CIPFA executive director for education and membership Adrian Pulham, and Mohammed Salim, president of the ICMAB, were all present at the signing ceremony in Dhaka.

Owen said: ‘The good management of public finance is becoming an increasingly pressing issue for governments and the public around the world.

‘We are all still continuing to learn the lessons of the global economic crises and we, as accountants, must be leading from the front.

‘This new and exciting partnership between ICMAB and CIPFA will help ensure that both organisations continue to deliver strengthen public financial management within Bangladesh, while serving the countries and communities that we work on behalf of.’

Earlier this year, CIPFA announced that it had joined with a Bangladesh-based training provider to allow accountancy students in the south Asian country to study for CIPFA’s qualification.