BTRC to start auditing telcos soon
GP, Robi first in line
Bangladesh Telecommunication Regulatory Commission (BTRC) is going to start auditing the financial operation of Grameenphone and Robi considering customer growth of telecom operators.
The commission on Thursday sought telecommunications ministrys permission to start auditing, BTRC sources said.
Earlier, the telecom regulator appointed firms which audited Grameen phone and Banglalink but could not complete the process following the objections from the mobile phone operators. Later, the telecom regulator tried to start audit several times but could not make it successful.
According to BTRC officials, the audit process has been delayed because of internal and external issues.
The telecom regulator was against the proposal that the mobile phone operators will appoint the audit firms and bear the expenses. BRTC asked telecoms ministry to revise the norm. If the ministry agrees with the regulator, BTRC will appoint audit firms within September.
BTRC sources said the commission has shortlisted three companies out of four that submitted their expression of interest (EoI) in this connection. The four companies which submitted their expression of interest (EoI) are -- Toha Khan Zaman Co, Chartered Accountants, MABS J Partners, Chartered Accountants, Masih Muhith Haque Co Chartered Accountants, and MA FAZAL Co Chartered Accountants. After publishing BTRCs circular, nine companies showed interest but the four companies submitted EoI.
The audit firms submitted EoI after the amendment a section of the request for proposal at commissions meeting on April 26 to make the process easier. Sarwar Alam, secretary of the BTRC, said the process to appoint audit firms is underway.
Although the decision to appoint audit firms was taken in January 2013, it was delayed due to the complexity of the appointment procedure and indecision, BTRC officials said.
In 2011, BTRC had started auditing of the top two telecom operatorsGrameenphone and Banglalink. Ahmed Zaker Co, which was assigned to audit Banglalink accounts, could not complete the task citing inability. However, Fazal Co completed the audit of Grameenphone in the same year. Following the audit, the commission had sent a letter to Grameenphone demanding Tk 3,034 crore on October 3, 2011. The operator, however, raised questions over the audit firms qualification for the task.
When asked regarding BTRCs procedure to recruit an auditor for second time and there is no involvement of foreign firm now, will GP welcome the audit firm or reject the firm if it reveals its due again?
Marcus Adaktusson, director, communications of Grmeenphone, earlier told The Independent that Grameenphone had not objected to the audit firm for the first time, we had rejected the claims made in the audit because they were incorrect and had objections with how the audit itself was conducted. BTRC has the authority to audit us so if the regulator appoints another audit firm we will welcome them. However, we will expect that this time the audit will be completed as per standard norms and practices.
M A FAZAL Co Chartered Accountants and Ahmed Zaker Co. Chartered Accountants have been shortlisted this time but Ahmed Jakir did not get final approval.
Regarding the fresh auditing, BTRC Chairman Sunil Kanti Bose said The procedure to appoint audit firms in going on and we have shortlisted companies.
