Financials & External Audit
BRAC's finance and accounts department is responsible for financial planning and record-keeping, managing costs, assets and liabilities, financing investments, analysing cash-flow and profitability, and preparing budgets and financial frameworks for the development programmes. The department is accountable for donor grants, property, provident funds, employee gratuity, salary, tax and loans. It produces annual and monthly consolidated financial statements and fulfils the rules and regulations of the NGO Affairs Bureau, Microcredit Regulatory Authority (MRA) and other regulatory bodies. Through this department we ensure effective financial control and transparency of the financial data of our projects and enterprises, garnering the trust and confidence from all those with whom we work.
BRAC was awarded the ‘AAA’ by Credit Rating Agency of Bangladesh Ltd. (CRAB). (The ‘AAA’ means Extremely Strong Capacity and Highest Quality.) BRAC has been receiving ‘AAA’ rating consecutively for the last five years.
BRAC became a full charter member of the INGO Accountability Charter in December 2013. The INGO Accountability Charter was incorporated in 2008. It is registered as a company in the UK and having its secretariat in Berlin, Germany. The objective is to create and develop a charter relating to the accountability of non-governmental organisations. The Accountability Reports submitted by BRAC are available in the website of INGO Accountability Charter at this link: http://www.ingoaccountabilitycharter.org/home/charter-members/brac.
BRAC received many awards in the field of financial transparency in different times. In 2014, BRAC received the following awards:
- 1st position in the Institute of Chartered Accountants of Bangladesh (ICAB) National Award under the category of NGOs for the year 2013.
- 1st position in the Institute of Cost and Management Accountants of Bangladesh (ICMAB) Best Corporate Award in the NGO Sector for the year 2013.
Our Tax ID in the USA is: 20-8456741.
Our UK Registered Charity Number: 1115482