“Accounting Practices followed by BRAC in the light of NGOs in Bangladesh: A Study on Head Office, Mohakhali, Dhaka”
Audit procedure is mainly a step by step approach. As this study report on a selected BRAC NGOs (according to ACNABIN no one can disclose the name of the Company name) particular project, it will cover a little arena of NGO auditing. But the snapshot can be obtained from this study. The selected NGO has wide range of operations. As an audit firm ACNABIN does complete set of procedures to be followed at the time of audit performed. From engagement to report submission the process is followed with reasonable and professional care and maintaining all rules and regulation and standards. In this report the main focus was on Accounting Practices followed by BRAC in the light of NGOs in Bangladesh. Huge amount of foreign donations are involved here. For that reason the verification of the authenticity of foreign donation is mandatory in case of NGO auditing. The recommendation provided by the auditor is obviously beneficial for the NGOs as those can improve the quality of the BRAC NGOs performance. In the audit a follow up of the previous year’s audit is verified whether that is solved or not. If not, recommendation on taking proper action is communicated to the management. But the effort will best be obtained when the transparency of financial reporting will be ensured through a system where the audit procedure will be more flexible and easy to understand. Because it will ensure greater accessibility of people to disclose and evaluate as well as understand and implement the auditing and accounting knowledge. The auditing profession has contributed and will be contributing a greater extent in ensuring transparency and efficiency of internal control system of various sector of Bangladesh. The achievement of the auditors will be then when the maximum people of the country will be aware about their rights and then proper transparency will come conquering all obstacles.
- Journal of law