Setting Standards and Implementing them in consideration of the perspective of socio-economic condition of Bangladesh and after keeping consistency with internationally accepted and quality financial reporting, auditing standards, valuation and Actuarial Services;
Ensuring compliance with internationally accepted quality standards set by the International Accounting Standards Board (IASB), International Auditing and Assurance Standards Board (IAASB) or related other international bodies;
Ensuring Effective compliance, monitoring and enforcement of financial reporting and auditing standards set by the Council;
Setting necessary rules, regulations, standard guidelines and codes and ensuring their enforcement for the purpose of ensuring of qualitative standard of financial reporting, accounting and auditing;
Monitoring auditing practice and exercise of auditors for the purpose of maintaining high standard of professional conduct;
Giving advice on activities in relation to accounting and auditing and providing information related services as central information storage;
Enlisting auditors and maintaining related information in register and publication thereof;
Ensuring compliance of reporting requirement prescribed under any other Act ;
Giving recommendations on academic certificates, courses and various teaching, training, internship, articleship and research activities run by professional accounting bodies and providing assistance in development;
Observing professional development activities run by professional accounting bodies for the fulfillment of the purpose of this Act;
Encouraging and where applicable, financing research on such a subject by which the financial report, accounting, auditing and corporate governance system can be enforced more effectively and efficiently by the council, professional accountancy bodies or any other entity concerned;
Making necessary rule or regulations for conducting accounting and auditing activities properly;
Conducting investigation and activities in relation thereto under this Act;
Taking suitable procedure or scheme and implementing those for achieving the objectives and performing the functions of Council;
Engaging or where applicable, executing memorandum of understanding and agreement, with such local or international institutional initiatives which are related to the objectives and functions of the Council or helpful thereto it;
Fixing charge and fee on services provided by the Council;
Imposing fine under this Act and rules made thereunder;
Giving recommendation or advice to the Government about financial report, non-financial report, financial statement, annual report, accounting and auditing or subjects related thereto; and
Doing such other activities, which the council deems fit, fit the purpose of implementing its general objectives and functions for the fulfilment of the purpose of this Act;
