Auditors, credit rating agencies, and independent directors in Bangladesh have come under scrutiny as evidence of widespread mismanagement and long-hidden financial fragility among banks has raised questions around the efficacy of financial oversight, as reported by The Daily Star.
During a recent speech, Bangladesh Bank Governor Ahsan H Mansur said that most bank balance sheets are "fictitious" and based upon "cooked-up" data. "If I judge the audit firms based on their reports, there will be no auditors left qualified for the job," Mansur argued.
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