The auditor has flagged regulatory lapses and disclosure gaps in the audited financial statements of Fu-Wang Ceramic Industry Ltd for the year ended 30 June 2025, issuing both a qualified opinion and an emphasis of matter.
A qualified opinion means the auditor did not reject the entire set of accounts but identified specific non-compliance that could not be overlooked.
The audit report said the company showed unclaimed dividends of Tk0.79 crore, of which Tk0.54 crore has remained unpaid for more than three years and should have been transferred to the Capital Market Stabilization Fund under a Bangladesh Securities and Exchange Commission directive issued in January 2021.
The company did not transfer the long-outstanding amount during the audit period, which the auditor said violates the regulatory guideline and formed the basis for the qualified opinion.
Under the emphasis of matter section, the auditor drew attention to the absence of audited financial statements for the gratuity fund and the workers’ profit participation and welfare fund for the previous year.
The auditor also pointed to an income tax provision of Tk7.99 crore, noting that the financial statements did not disclose the current tax assessment status.
The company indicated that details on the tax assessment position would be disclosed in the next reporting quarter, according to the audit note.
The auditor said these issues collectively raised concerns over compliance and disclosure in Fu-Wang Ceramic Industry’s financial statements for the year.
