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:
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
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
75, Mohakhali, Dhaka-1212, Bangladesh
Tel: 88 02 2222 81265, Fax: 88 02 2222 63542
Internal audit department of BRAC and BRAC International is headed by the Director, Internal Audit. With professional experience of more than 18 years in internal control system, assurance, accounting, compliance management, risk management, income tax and legal affairs, Director ensures the delivery of responsibilities that IAD of BRAC and BRAC International has been entrusted with.
Currently IAD is empowered with a total of 282 permanent staff of which 239 works under BRAC and 43 works under BRAC International. Most of IAD staff has professional accounting and auditing background. A considerable number of senior officials of IAD are members of professional bodies like ICAB, IIA, ACCA and ISACA.
|Total number of staff||239||43|
|Number of staff with professional accounting and auditing background||145||18|
|Staff with one or more membership of professional bodies from the following:||23||9|
|Institute of Internal Auditors, Bangladesh (IIAB)||13||2|
|Institute of Chartered Accountants of Bangladesh (ICAB)||3||1|
|Institute of Chartered Accountants in England and Wales (ICAEW)||1||-|
|Association of Chartered Certified Accountants (ACCA)||5||4|
|Certified Public Accountant (CPA) -Tanzania||-||3|
|IICFIP (International Institute of Certified Forensic and Investigative Audit Professionals)||-||1|
|Information Systems Audit and Control Association (ISACA)||1||1|
|ISO/IEC 27001 Lead Auditor||3||-|
Risk Based Internal Audit (RBIA)
Risk based internal auditing (RBIA) as a methodology that links internal auditing to an organisation's overall risk management framework. RBIA allows internal audit to provide assurance to the Finance & Audit Committee that risk management processes are managing risks effectively, in relation to the risk appetite. Under this audit, Internal Audit Department will focus on the risky areas of the internal control systems rather than the total process of a system.
System Audit is one of the latest auditing models which was introduced at BRAC Internal Audit Department in 2016. System Audit is designed to ensure and report to the management about the adequacy and effectiveness of the overall control system already operated and to report for further system enhancement and development.
Information Systems Audit
To pay attention to the need of information security and control as well as information resource and components management, Information Systems Audit has been initiated this year. For this Information Systems Audit Program and Checklists have been developed incorporating Information Systems Audit and Control Association (ISACA) standards and global best practices.
Compliance services helps to identify whether the organisation’s internal and external compliances culture is practiced or not. Following are the compliance services:
Physical verification of inventory, fixed assets and cash
Physical verification of inventory, fixed assets and cash is an important part of the organisation’s internal controls. As a part of periodic requirement, Internal Audit Department conduct an annual physical count of inventories, assets and cash to verify actual quantities, values and amounts.
Internal Audit Department conducts Surprise Audit considering the nature and level of risks as well as assessment of Internal Auditors.
Special Audit/ Investigation
Any special audit and investigation is carried out by Internal Audit Department individually or jointly with the other departments if assigned by Finance and Audit Committee.