ATA KHAN & CO.
CHARTERED ACCOUNTANTS
ATA UDDIN KHAN, M. COM. FCA
G . M. MUNIR AHMED, B. COM. (HONS) M. COM. FCA
MAQBUL AHMED, B. COM. (HONS) M. COM. FCA
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67, MOTIJHEEL COMM. AREA, DHAKA-1000 BANGLADESH
TEL: OFF: 880-2-9560933, 9552833
RES: 880-2-9118150, MOBILE : 01819-228521 FAX: 880-2-9567351
26, SADARGHAT ROAD, CHITTAGONG- 4000 BANGLADESH
TEL: 880-31-621110, MOBILE : 0172-0270618
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Dhaka : 30 March 2008
Members of the General Body
Bangladesh Association of Banks (BAB)
Iqbal Centre (11th Floor)
Kemal Ataturk Avenue
Banani
Dhaka-1213.
Ref: Detailed Auditors' Report on the Accounts of “ Bangladesh Association of Banks” (BAB) for the year ended 31 December 2007 .
Dear Sirs,
In terms of the appointment letter dated 19 April 2006 of Bangladesh Association of Banks (BAB) we have carried out the examination of books of accounts and other relevant papers and documents of the Association for the year ended 31 December 2007 .
01.00 INTRODUCTION:
Bangladesh Association of Banks is a Private Limited Company Registered with the Registrar of Joint Stock Companies & Firms, bearing Registration No.CTO313 (01)/1993 dated 23 September 1993 .
02.00 SCOPE OF AUDIT:
We have conducted our audit in accordance with generally accepted auditing standards and accordingly included such tests and accounting records and auditing procedures as were considered appropriate and possible in the circumstances. We have examined the books of accounts with relevant vouchers, registers and other documents maintained by the Association and disclosed them in the financial statement.
| 03.00 |
BALANCE SHEET: |
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| ASSETS: |
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| 03.01 |
FIXED ASSETS: |
Tk. 9,12,172.12 |
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The Association maintains Fixed Assets register.
For details we refer to our annexed note No.1 |
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| 03.01(a) |
DECORATION (DESIGN AND FABRICATION): |
Tk. 26,92,472.96 |
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For details we refer to our annexed note No.2. |
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| 03.02 |
CASH AND BANK BALANCES: |
Tk. 15,58,446.70 |
| We have checked respective bank statements and found the bank balances in order. For details we refer to annexed note No. 7. For cash balance of Tk. 504.00 cash custody certificate was made available to us at the time of our audit. |
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| 03.03 |
FIXED DEPOSIT: |
Tk. 66,00,000.00 |
| As per decision of the Executive Committee the above-mentioned amount has been deposited in the different Banks in the form of Fixed Deposit. We have checked respective FDR certificates and bank statements. The above-mentioned amount includes Tk.66,00,000.00 as principal and Tk. 30,31,938.17 as interest thereon. For details we refer to annexed note No.6. |
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| 03.04 |
OUTSTANDING SUBSCRIPTION: |
Tk. 1,50,000.00 |
| This represents subscription receivable for the year 2007. The amount has been received subsequently. |
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| 03.05 |
ADVANCE RENT: |
Tk. 1,75,000.00 |
| During the course of our audit we observed that an amount of Tk 1,75,000.00 is lying as advance against rent since last year. |
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| 04.00 |
INCOME AND EXPENDITURE ACCOUNT: |
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| 04.01 |
ANNUAL SUBSCRIPTION: |
Tk. 43,50,000.00 |
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This is arrived as follows: |
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| Received in the year 2007 (Note-10) |
43,50,000.00 |
| Less: Subscription received for the year 2006 |
1,50,000.00 |
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42,00,000.00 |
| Add: Subscription outstanding for the year 2007 |
1,50,000.00 |
Total Tk. |
43,50,000.00 |
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| 05.00 |
SUPPORTING DOCUMENTS: |
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| We have checked the vouchers and supporting documents those were made available during the course of our audit. |
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| 06.00 |
SOME OTHER IMPORTANT OBSERVATIONS: |
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| The Association has maintained proper Cashbook, Bankbook, Ledger and other account related books and paper for keeping the records of transactions |
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| CONCLUSION: |
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We wish to put on record our appreciation for the courtesies extended to us by various level of the Association during the course of our audit.
Thanking you
Yours faithfully
ATA Khan & Co.
Chartered Accountants |
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AUDITORS' REPORT
ATA KHAN & CO.
CHARTERED ACCOUNTANTS
ATA UDDIN KHAN, M. COM. FCA
G . M. MUNIR AHMED, B. COM. (HONS) M. COM. FCA
MAQBUL AHMED, B. COM. (HONS) M. COM. FCA |
67, MOTIJHEEL COMM. AREA, DHAKA-1000 BANGLADESH
TEL: OFF: 880-2-9560933, 9560716, 9552833
RES: 880-2-9118150, MOBILE : 01819-228521 FAX: 880-2-9567351
26, SADARGHAT ROAD, CHITTAGONG- 4000 BANGLADESH
TEL: 880-31-621110, MOBILE : 0172-0270618 |
We have examined the annexed Balance Sheet of Bangladesh Association of Banks, Dhaka as on 31 December 2007 and also the annexed Income and Expenditure Account and Receipts and Payments Account for the year ended on that date. The preparation of these financial statements is the responsibility of the Association management. Our responsibility is to express an opinion on these financial statements based on our audit.
Subject to our observations in our detailed report, we report that:
We have obtained all the information and explanations we required;
In our opinion, the Balance Sheet and enclosed Income and Expenditure Account and Receipts and Payments Account have been drawn-up in conformity with the law;
Such Balance Sheet exhibits a true and fair view of the state of affairs of Bangladesh Association of Banks, according to the best of our information and explanations given to us and as shown by the books of accounts of Bangladesh Association of Banks.
and
In our opinion, the books of accounts and vouchers have been prepared and maintained by the Association as required by the law.
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