1. Engage a Certified Auditor

• Select an Auditor: Choose a qualified and licensed auditor or firm. In Bangladesh, auditors should be certified by the Institute of Chartered Accountants of Bangladesh (ICAB).
• Sign an Engagement Letter: Formalize the relationship by signing an engagement letter that outlines the scope of the audit, terms of service, and fees.

2. Prepare for the Audit

• Provide Documentation: Supply the auditor with all necessary documents, including:
  
  • Financial Statements: Balance sheet, income statement, cash flow statement, etc.
  • Account Records: General ledger, bank statements, invoices, etc.
  • Corporate Documents: Business registration, tax identification number, and previous audit reports.
• Coordinate with Auditor: Arrange for access to company records and personnel who can provide additional information.

3. Conduct the Audit

• Fieldwork: The auditor will conduct fieldwork, which involves reviewing financial statements, testing transactions, and assessing internal controls.
• Interviews: The auditor may interview key personnel to understand business processes and financial controls.
• Evaluation: The auditor will evaluate the accuracy of financial statements and compliance with relevant accounting standards and regulations.

4. Review and Discuss Findings

• Draft Report: The auditor will prepare a draft audit report, which includes their findings, opinions, and any identified issues.
• Management Discussion: Review the draft report with the auditor to discuss findings and address any concerns or discrepancies.
• Adjustments: If necessary, the auditor may adjust the report based on feedback from management.

5. Receive the Final Audit Report

• Final Report Issuance: After finalizing the draft, the auditor will issue the final audit report. This report typically includes:
  
  • Auditor’s Opinion: A statement regarding the accuracy and fairness of the financial statements.
  • Management Letter: Comments on internal controls and recommendations for improvements.
• Report Distribution: The audit report will be submitted to the company’s board of directors and filed with regulatory authorities as required.

6. Filing and Compliance

• Registrar of Joint Stock Companies and Firms (RJSC): Submit a copy of the audit report to the RJSC, which is required under the Companies Act, 1994.
• Shareholders: Present the audit report at the Annual General Meeting (AGM) of the company.

7. Follow-Up

• Implement Recommendations: Address any recommendations or issues identified in the audit report to improve financial practices and controls.
• Monitor: Track progress on implementing changes and conduct follow-up reviews if necessary.

Resources and Contacts

• Institute of Chartered Accountants of Bangladesh (ICAB): Provides a list of certified auditors and firms.
• Registrar of Joint Stock Companies and Firms (RJSC):  For filing and compliance requirements.

Engaging a professional auditor and ensuring thorough preparation will help in obtaining a comprehensive and accurate audit report for your company.