Bangladesh Financial Statements & Reporting

General reference only. This skill is general tax/accounting reference material for AI-assisted workflows. It has not been reviewed for any specific person's facts, documents, elections, deadlines, residency, filing status, or local procedures. Do not rely on it to file, pay, amend, or take a tax position without review by a qualified professional in the relevant jurisdiction.

Section 1 — Quick Reference

Field	Value
Sole proprietor / freelancer	No statutory financial statements — keeps accounts and files the NBR e-Return (see bd-bookkeeping)
Partnership	Accounts supporting the return
Company (Pvt/Public Ltd)	Financial statements under BFRS (Bangladesh Financial Reporting Standards, adopting IFRS / IFRS for SMEs), audited by an ICAB-member firm, filed with RJSC
Audit	Companies require a statutory audit; the financial statements + audit are filed with RJSC and the NBR
Authorities	NBR (tax); RJSC (companies); ICAB (audit profession)
Currency	BDT (৳)
Skill version	1.0

Section 2 — Who prepares what (Tier 1)

• Sole proprietor / freelancer: no statutory financial statements. The obligation is the NBR e-Return supported by simple accounts (income, expenses, bank, asset register). This is the key point for most freelancers.
• Partnership: maintains accounts to support its return; no RJSC financial-statement filing.
• Company: prepares financial statements under BFRS (IFRS as adopted, or IFRS for SMEs for smaller companies), has them audited by an ICAB-member firm, and files with RJSC (and attaches audited accounts to the income-tax return).

Section 3 — Worked example

A solo IT freelancer (sole proprietorship): prepares no statutory financial statements — files the NBR e-Return with supporting accounts. If they incorporate a Private Ltd, BFRS statements + a statutory audit + RJSC filing begin.

Section 10 — Prohibitions

• NEVER tell a sole proprietor/freelancer they must file statutory financial statements (they file the e-Return).
• NEVER assume full IFRS for a small company — IFRS for SMEs / the size-based standard may apply.
• NEVER state audit/filing thresholds without verifying the Companies Act / RJSC rules.

Disclaimer

Informational only; not advice. Verify reporting standards, audit, and RJSC filing obligations with RJSC, ICAB, and the NBR. All outputs must be reviewed and signed off by a qualified Bangladeshi practitioner. Maintained at openaccountants.com.