For a new loan, renewal or higher credit limit, banks in Bangladesh usually ask for last year's audited financial statements with their DVC. DVC is a verification code from ICAB that lets the bank confirm online that the audit report is genuine. We prepare the books and statements; our partner CA firm audits them and issues the report with DVC.
Our team has worked on three consecutive years of audited statements with DVC for an SME manufacturer, starting from bank statements and a few ledgers. We work with an eye on the parts of the statements a bank's credit team looks at most.
On this page
What DVC is and why banks want it
DVC (Document Verification Code) is an ICAB system in which the auditor generates a code for each audit report. A bank, the NBR or anyone else can use the code to check that the report really came from that firm. It exists to stop fake audit reports, so banks now rarely accept an audit report without DVC.
What banks look at in your statements
| What they check | Why |
|---|---|
| Sales and profit trend (2–3 years) | Is the business growing or shrinking |
| Sales against bank statement deposits | Are the statements real |
| Debt-equity ratio | How much is the owner's money and how much is borrowed |
| Current ratio and cash flow | Is there enough cash for instalments |
| Stock and receivables | How much money is tied up in goods and in the market |
| DSCR | Can profit cover interest and repayments |
Want us to do this for you?
Tell us your situation on WhatsApp and we will tell you exactly what is needed and how long it takes.
The biggest mistake: statements that do not match reality
Some owners want higher sales or profit shown to get a bigger loan. But banks compare statements with bank statements, VAT returns and tax returns. If they do not match, the loan stalls, and no auditor will sign such statements. We prepare statements from the real figures and tell you up front where the weak points are, so you are ready for the bank's questions.
What you need
- Trade licence, TIN and BIN; for companies, certificate of incorporation and memorandum
- Twelve months of statements and year-end balance certificates for every bank
- Sales and purchase lists or invoices, twelve months of VAT returns
- Year-end stock figures
- Last year's audited statements and tax return (if any)
- Loan sanction letters and loan account statements
How it works
- Understand the bank's requirementWhich year, which format and by when, from the bank's letter or relationship manager.
- Books and statementsBooks and draft statements from your documents, with a list of weak points from the bank's view.
- ReviewGo through the draft with you.
- Audit and DVCAudit by our partner CA firm, report and DVC.
- Submit to the bankFinal statements, audit report and DVC in the bank's format.
Frequently asked questions
How long until we get the report with DVC?
If the books are ready, a few weeks. Without books it takes longer. Tell us the bank's deadline and we plan for it, or tell you early if it is not achievable.
Do proprietorships need an audit too?
It is not always a legal requirement, but banks often ask for it. See proprietorship final accounts.
How do I check the DVC is genuine?
Enter the code in ICAB's online DVC verification system and it shows the report details. We give you the code with the report so you can check it yourself.
Which audit firm is it?
Once the engagement is confirmed, our written proposal names the partner firm and its ICAB registration number.
Talk to us about your accounting work
The first conversation is free. You get a written price and timeline before any work starts.
Related pages
Final accounts preparation
Balance sheet, income statement, cash flows, notes and fixed asset schedule.
ServicesFinal accounts and audit report for sole proprietorships
Balance sheet, income statement, notes and audit report for sole proprietors.
ServicesAudit preparation and coordination
Trial balance clean-up, reconciliations, confirmations, schedules and every audit document.
Free templatesRatio analysis in Excel: the ratios banks look at
12 ratios with a two-year comparison: see your statements the way a bank does.
GuidesCompany audit report: sample structure and each part explained
Parts of an audit report, the four opinion types, DVC and what banks check.
Written by the EOMS Hisab accounts team. Last reviewed: . Bangladesh rules change with each Finance Act, SRO and circular. Check rates and thresholds against the latest official source before relying on them.