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Tuesday, 11 August 2015 00:00

Good Management Practices: External Auditors

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The BRAC Governing Body appointed Ernst & Young Chartered Accountants,Malaysia and S. F. Ahmed & Co. Chartered Accountants, Bangladesh (local partner) jointly as the external auditors of BRAC for the year 2007. They duly conducted the audit and signed the audit report on 16 March 2008. They were also appointed to audit BRAC Education Programme (BEP) and Challenging the Frontiers of Poverty Reduction-Targeting the Ultra Poor (CFPR-TUP) programme. These two programmes account for a large portion of total donor finance to BRAC. The donors' consortia approved their appointment and they duly submitted the audit reports of BEP and CFPR-TUP. While conducting the audit of all the BRAC projects including the above two, the external auditor S. F. Ahmed & Co. Chartered Accountants reported separately to NGO Affairs Bureau for each project. For the other donor financed BRAC projects the following external auditors were appointed: J. R. Chowdhury & Co., S. K. Barua & Co., ACNABIN & Co., and Masih Muhit Haque & Co. Audit reports for all projects were submitted to the NGO Affairs Bureau of the Government of Bangladesh. A total of 32 external auditing missions, from four audit firms and the Audit Directorate, foreign aided projects, and the Government of Bangladesh, reported on different BRAC programmes in 2007.

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