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BRAC

BRAC

Tuesday, 11 August 2015 00:00

Internal audit

Internal Audit Department of BRAC and BRAC International(BI) is committed to assist BRAC and BRAC International by providing an independent appraisal within BRAC and BRAC International to determine the appropriateness, soundness and adequacy of the organisations' accounting, financial and operational controls. These appraisals provide information and recommendations to stakeholders. In addition to the formal and regular audits, we are happy to answer questions and give advice regarding specific policies and procedures and act as consultants on internal controls.

We hope this site will provide you with helpful information regarding the Internal Audit Department and our functions. Please feel free to contact us if you have any questions, suggestions, or comments.

 

Internal Audit Charter

Internal Audit Charter provides the framework of internal audit procedures in BRAC and BRAC International. This has been approved by the Chairperson of BRAC and by the Finance and Audit Committee of BRAC. The Charter primarily aims to define and establish the following elements for Internal Audit Department (IAD) of BRAC and BRAC International:

  • The role of Internal Audit;
  • The objectives of Internal Audit Department;
  • The rules of conduct (as per guidelines of Institute of Internal Auditors);
  • The scope, authority, responsibility and accountability;
  • Reporting;
  • Independence and Professional standards;
  • Continuity and impartiality;
  • Quality assurance and improvement programme for Internal Audit

To know more about internal audit charter of BRAC and BRAC International, you may download the Internal Audit Charter from the following link:

Internal Audit Charter- BRAC
Internal Audit Charter- BRAC International

 

Core Functions of Internal Audit Department

  • Formulating and updating internal audit charter, internal audit manual;
  • Formulating audit plan, audit programme, audit guidelines, audit policies and procedures;
  • Updating internal audit system and present the same to the Finance and Audit Committee;
  • Assuring the Finance and Audit Committee, and Senior Management regarding the adequacy and effectiveness of internal control system, compliances and risk management. Advising on financial and operational risk management, compliance and internal control matters as required, evaluating adequacy and effectiveness of existing policies and controls and giving recommendation for necessary improvement;
  • Initiating and managing audits (both system audit, continuous/ periodic audit and risk based audit) to improve operations, help in managing risks, identify and communicate best practices;
  • Presenting most pertinent issues to the Chairperson/ Finance and Audit Committee/ ED/ Top Executives in-time;
  • Participating in internal audit review management committee (IARMC) by selecting and presenting issues demanding immediate attention, follow-up of decisions taken in IARMC and informing IARMC about the implementation status of decisions taken for improvement of internal control system of the respective programme or enterprise at large;
  • Presenting the operations of internal audit department to foreign delegates, external auditor, international auditor and evaluation team as required;
  • Reviewing the application and effectiveness of risk management procedures and risk assessment methodologies of various programmes and activities;
  • Assisting in investigation and inspection of significant suspected fraudulent activities and notify the Finance and Audit Committee/ED.

 

Contact

If you have any question, suggestion, comment or need further assistance, please feel free to contract -

Office of Director
Internal Audit Department, BRAC and BRAC International
BRAC Centre
75, Mohakhali, Dhaka-1212, Bangladesh
Tel: 880-2-9881265, Fax: 880-2-8823542
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Monday, 10 August 2015 00:00

Good Management Practices

BRAC's internal control system is designed to get reasonable assurance about effectiveness and efficiency of operations, reliability of financial data and compliance of applicable rules, regulations and procedures. Management's integrity, attitude, actions, and ethical values help raise consciousness control among the staff. BRAC management believes that controls are important to achieve the objectives and to communicate its view to staff at all levels. Clear policies and procedures, documentation process, table of authority, segregation of staff duties, supervision and accountability have made the organisation transparent. Considering the internal control a continuous process BRAC periodically reviews and modifies the system in the changing circumstances. At the top of its control mechanism, there exists the willingness of BRAC governing body to ensure internal control and transparency.

BRAC's affiliate organisations, BRAC USA and BRAC UK, also have their own accountability and governance systems that operate independently of BRAC.

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. At present there are 26 full charter members. Please visit the link to the Charter website for details: http://www.ingoaccountabilitycharter.org.

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.
 

Child Protection Policy:
In December 2010, BRAC's governing board adopted the following child protection policy,

BRAC Child Protection Policy


Gender Policy: BRAC promotes gender equity and equality within the organisation. To provide the right direction and guidelines to all BRAC staff, BRAC has implemented Gender Policy and Sexual Harassment Elimination Policy,

BRAC Gender Policy
BRAC Sexual Harassment Elimination Policy  

 

Safeguarding Policy:
BRAC has for over forty years made the safety of the participants of its programmes as well as the safety of the employees of its programmes and enterprises of paramount importance in the way it has conducted its (anti-poverty) work.

BRAC Safeguarding Policy



Memorandum of Association
: Memorandum of Association - BRAC (Revised in 2013)

 

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