After an enduring 36-year tenure, the Dhaka Stock Exchange (DSE) has opted for a change in its auditor, transitioning from A Qasem & Co Chartered Accountants to Hoda Vasi Chowdhury & Co Chartered Accountants.
The decision, ratified during the bourse’s annual general meeting (AGM) on December 21, marks a strategic move by the DSE to bolster transparency and diversification in its financial oversight. ATM Tariquzzaman, the Managing Director of the Dhaka bourse, affirmed that the shareholders, in the AGM, greenlit the proposal for the auditor change, ushering in the new auditor for the upcoming fiscal year 2023-24.
Furthermore, the DSE’s shareholders sanctioned a 4% cash dividend for the fiscal year 2022-23, a slight reduction from the 6% disbursed in the previous fiscal year. The shift in dividend policy aligns with the DSE’s broader financial landscape, which witnessed a noteworthy decline in revenue and profit during the fiscal year 2022-23. Factors contributing to this downturn include stock market volatility and diminished share transactions, primarily attributed to floor prices.
According to the fiscal year 2022-23 financial report of the DSE, the revenue experienced a significant contraction of 25%, amounting to Tk238 crore, marking the lowest point since the fiscal year 2019-20. Simultaneously, the net profit after tax witnessed a 35% decrease, settling at Tk80 crore, compared to the preceding fiscal year.
