Measurement and Analysis of the Extent of Timeliness in Corporate Annual Reports of Banking Sector in Bangladesh

This study focused whether timeliness of corporate financial reporting in the banking sector has improved in Bangladesh following the creation of the Securities and Exchange Commission (SEC) in 1993, the enactment of the Companies Act in 1994, the amendment of the SEC Rules in 1997, and the Banking Companies Act, 1991. Using 25% of the population (12 banks) observations over a period of 5 years (2002-2006), the present study observed that banking companies in Bangladesh are taking relatively more time to complete audit of their accounts. The result reveals that the appeal of the information provided by the bank annual reports couldn’t help the users to take their decision in time if it takes another 102 days to arrange annual general meeting in another 41 days. With regard to timeliness as a qualitative objective of financial statements, this evidence can be regarded as unsatisfactory