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 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 fulfills 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 trust and confidence from all those with whom we work.
BRAC was awarded the ‘AAA’ rating by the Credit Rating Agency of Bangladesh Ltd (CRAB). (‘AAA’ signifies an extremely strong capacity and the highest quality.)
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 has its secretariat in Berlin, Germany. The objective is to create and develop a charter relating to the accountability of non-governmental organisations.
BRAC has received many awards in the field of financial transparency at 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.