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    Audit 2018-2019

    Uploaded by

    Md Kowser Hossain
    1) Bidyanondo Foundation had receipts of 62.2 million Taka and payments of 58.9 million Taka for the year ended December 31, 2019 according to its audited receipts and payments statement. 2) The auditor issued a clean opinion stating that the receipts and payments statement presented fairly the cash flows of the organization in accordance with cash basis accounting. 3) Key expenses for the year included 23.1 million Taka for food, 11.2 million Taka for property and equipment, and 6.6 million Taka for salaries and labor costs.

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    Audit 2018-2019

    Uploaded by

    Md Kowser Hossain
    34 views4 pages
    1) Bidyanondo Foundation had receipts of 62.2 million Taka and payments of 58.9 million Taka for the year ended December 31, 2019 according to its audited receipts and payments statement. 2) The auditor issued a clean opinion stating that the receipts and payments statement presented fairly the cash flows of the organization in accordance with cash basis accounting. 3) Key expenses for the year included 23.1 million Taka for food, 11.2 million Taka for property and equipment, and 6.6 million Taka for salaries and labor costs.

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    1) Bidyanondo Foundation had receipts of 62.2 million Taka and payments of 58.9 million Taka for the year ended December 31, 2019 according to its audited receipts and payments statement. 2) The auditor issued a clean opinion stating that the receipts and payments statement presented fairly the cash flows of the organization in accordance with cash basis accounting. 3) Key expenses for the year included 23.1 million Taka for food, 11.2 million Taka for property and equipment, and 6.6 million Taka for salaries and labor costs.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    34 views4 pages

    Audit 2018-2019

    Uploaded by

    Md Kowser Hossain
    1) Bidyanondo Foundation had receipts of 62.2 million Taka and payments of 58.9 million Taka for the year ended December 31, 2019 according to its audited receipts and payments statement. 2) The auditor issued a clean opinion stating that the receipts and payments statement presented fairly the cash flows of the organization in accordance with cash basis accounting. 3) Key expenses for the year included 23.1 million Taka for food, 11.2 million Taka for property and equipment, and 6.6 million Taka for salaries and labor costs.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 4

    Bidyanondo Foundation

    Auditors report and the audited


    Receipts and Payments Statement
    For the year ended December 31, 2019

    Corporate Office
    House 14 (Level 4 & 5)
    Road- 16A, Gulshan- 1
    Chartered Accountants Dhaka- 1212, Bangladesh
    Member firm of Grant Thornton International Ltd. T: +880 2 588 15247
    Independent Auditor's Report
    to The Chairman of
    Bidyanondo Foundation

    Opinion
    We have audited the Receipts and Payments Statement of Bidyanondo Foundation (hereinafter
    referred to as “the Organization”) for the year ended December 31, 2019 and notes to the Receipts
    and Payments Statement, including a summary of significant accounting policies (together “the
    Financial Statement”).
    In our opinion, the accompanying Financial Statement presents fairly, in all material respects, the
    receipts and payments of the Organization for the year ended December 31, 2019 in accordance
    with the cash basis of accounting (described in Note#2 of the receipts and payments statement).

    Basis for Opinion


    We conducted our audit in accordance with International Standards on Auditing (ISAs). Our
    responsibilities under those standards are further described in the Auditor's Responsibilities for the
    Audit of the Financial Statement section of our report. We are independent of the Organization in
    accordance with the International Ethics Standards Board for Accountants’ Code of Ethics for
    Professional Accountants (IESBA Code), and we have fulfilled our other ethical responsibilities in
    accordance with the IESBA Code and the Institute of Chartered Accountants of Bangladesh
    (ICAB) Bye-Laws. We believe that the audit evidence we have obtained is sufficient and
    appropriate to provide a basis for our opinion.

    Emphasis of Matters and restriction on the distribution


    Without qualifying our opinion, we draw attention to the following matter:
    In Note#2 to the Financial Statement, management of Bidyanondo Foundation describes the basis
    under which the said statement has been prepared.
    This audit report has been prepared for the purpose of the management of Bidyanondo
    Foundation. As a result, the audit report and the audited Financial Statement may not be suitable
    for another purpose.
    Responsibilities of Management and Those Charged with Governance for the Financial
    Statement
    Management is responsible for the preparation and fair presentation of the Financial Statement in
    accordance with the receipts and payments basis of accounting described in Note#2; this includes
    determining that the cash basis of accounting is an acceptable basis for the preparation of the
    financial statement in the circumstances, and for such internal control as management determines
    is necessary to enable the preparation of a receipts and payments statement that is free from
    material misstatement, whether due to fraud or error.

    Auditor’s Responsibilities for the Audit of the Financial Statement


    Our objectives are to obtain reasonable assurance about whether the Financial Statement as a
    whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s
    report that includes our opinion. Reasonable assurance is a high level of assurance, is not a
    guarantee that an audit conducted in accordance with ISAs will always detect a material
    misstatement when it exists. Misstatements can arise from fraud or error and are considered
    material if, individually or in the aggregate, they could reasonably be expected to influence the
    economic decisions of users taken on the basis of this Financial Statement.
    As part of an audit in accordance with ISAs, we exercise professional judgment and maintain
    professional skepticism throughout the audit. We also:

    • Identified and assessed the risks of material misstatement of the Financial Statement,
    whether due to fraud or error, designed and performed audit procedures responsive to
    those risks, and obtained audit evidence that is sufficient and appropriate to provide a basis
    for our opinion. The risk of not detecting a material misstatement resulting from fraud is
    higher than for one resulting from error, as fraud may involve collusion, forgery,
    intentional omissions, misrepresentations, or the override of internal control.
    • Obtained an understanding of internal control relevant to the audit in order to design audit
    procedures that are appropriate in the circumstances.
    • Evaluated the appropriateness of accounting policies used and related disclosures made by
    management.
    • Evaluated the overall presentation, structure and content of the Financial Statement,
    including the disclosures, and whether the Financial Statement represent the underlying
    transactions and events in a manner that achieves fair presentation.
    We communicated with those charged with governance regarding, among other matters, the
    planned scope and timing of the audit and significant audit findings, including any significant
    deficiencies in internal control that we identify during our audit.

    Dated: June 29, 2020 Chartered Accountants


    Dhaka
    Bidyanondo Foundation
    Receipts & Payments Statement
    For the year ended 31 December 2019

    Amount in Taka

    For the 12 For the 18


    month period month period
    Particulars Note from 01 January from 01 July 2017
    to 31 December to 31 December
    2019 2018

    Opening Balance of Cash and Cash


    5 1,905,362 1,220,715
    Equivalents (A)
    Receipts: (B)
    Donation received 6 60,977,651 61,028,733
    Miscellaneous receipts 7 1,230,629 1,788,209
    Total Receipts 62,208,280 62,816,942
    Total (A+B) 64,113,642 64,037,657

    Payments:
    1Tk. Meal/Fooding 8 23,071,167 28,594,878
    1Tk. Legal 9 7,535 3,250
    1Tk. Treatment 10 438,207 856,615
    Educational programs 11 1,158,181 3,141,543
    Clothing for charity 12 2,470,684 1,768,460
    Other charitable expenses 13 275,369 1,362,819
    Bank charges 14 138,663 256,390
    Cleaning 15 182,572 72,778
    Rent advance for school,
    299,930
    library, office & garments 16 2,519,274
    Consultancy 17 304,942 35,000
    Audit fee 18 129,200 44,000

    Honorarium to teachers, 6,563,663


    staff salary and labor costs 19 7,672,729
    Repairs & maintenance 20 714,710 141,799
    Small tools & equipment 21 206,657 605,158
    Stationary, printing, postage & delivery 22 1,438,889 2,134,468
    Phone & Internet 23 151,927 166,585
    Travel and food transportation 24 2,761,940 1,610,063
    Utilities 25 2,253,399 1,631,039
    Other admin expenses 26 183,511 236,649
    Property, plant, & equipment 3 11,153,001 9,176,892
    Publications 27 181,466 103,547
    Awareness documentary 28 300,000 -
    Refugee & Migration 29 7,760,037 -
    Total Payments [C] 62,145,650 62,133,936

    Cash and Cash Equivalents (D) 4 1,967,992 1,903,721


    Total (C+D) 64,113,642 64,037,657

    The annexed notes from an integral part of this Financial Statement

    Finance Executive Finance Secretary Chairman

    Dated: June 29, 2020


    Dhaka Chartered Accountants

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