AUDITOR'S REPORT
Audit Completion Date: 18-12-20 14.
The SecretaryMinistry of FinanceFinance DivisionBangladesh Secretariat. Dhaka.
I. We have audited the accompanying financial statement of the "Deepening MTBF and
strengthening Financial Accountability Project" financed under DFID, EC, EKN, CIDA, RDA,
others (specify) grant no. TF-095283-BD as of 30 June, 2014 and for the year then ended. The
preparation of financial statement is the responsibility of Management. Our responsibility is to express an
opinion on the financial statement based on our audit.
II. We have conducted our audit in accordance with International Standards on Auditing. Those
standards require that we plan and perform the audit to obtain reasonable assurance about whether the
financial statement is free of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statement. An audit also includes
assessing the accounting principles used and significant estimates made by the Management, as well as
evaluating the overall financial statement presentation. We believe that our audit provides a reasonable
basis for our opinion.
Ill. In our opinion, the Financial Statement gives a fair view, in all material aspects, the financial
position of " Deepening MTBF and strengthening Financial Accountability Project " as of 30'h
June, 2014, and the results of its operations and its cash flows for the year then ended in accordance with
the cash basis of accounting followed by the Government of Bangladesh.
IV. Opinion Status: Unqualified.
Date :Y6
(Mst. Maksdda kegum)Deputy Director
For Director GeneralForeign-Aided Projects Audit Directorate.
Phone: 9361947
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Deepening MTBF and StrengtheningFinancial Accountability Project
Project Financial Statement3 0 th June, 2014
Figure in Lakh Taka
Resources Notes Cumulative Current Cumulativeprior period Period Current Period
up to June 2013 2013-14 up to June 2014Government of Bangladesh
465.64 198.24 663.88(GOB)
RPA Advance to DA 13506.00 2682.70 16188.70
DP Sc 15359.55 4173.70 19533.25
Other resources
Cash opening balance - 1948.14
Total Resources 29331.19 9002.78 36385.83
E xpenditure and Cash
1. Pay and Allowances I179.68 79.03 258.71
2. Supply and Services 253.08 105.87 358.95
3. Consultants (Local) 351'.83 2702.95 6220.78
4. Consultants (Interna-onal 15559.02 2410.80 9-0.73
5. Training (Local 34.18 989
6. Training (Foreign) 1459.93 1409.63 2869.56
7. Operation Cost 2303.85 15.48 2819.33
8. Capital Expenditure 3435.37 1413.79 4849.12
CD/VAT 32.88 13.34 46.2:
Total Expenditure 27383.05 9000.07 36383.12
Ash Closing Balance
prest Account
rating Account (RPA) - 2.71 2.71
rating Account tGoB)
al Closing Balance 1948.14 2.71 2.71
tal Expenditure and Cash 29331.19 9002.78 36385.83
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Deepeiing MTBF and StrengtheningFinancial Accountability Project
NOTES TO FINANCIAL STATEMENT30th June, 2014
1. GOVERNMENT OF BANGLADESH.Fund are allocated by the Government of Bangladesh to cover GOB's share of eligible project expenditures, asspecitted in the Project Proforma anJ in the Annual Development Program for each of the project. Any allocatedfunds that have not been expended by the end of a fiscal year lapse and must be returned to GOB. GOBcontribution to the project since inception are as follows (In Lakh.)
Inception to 30"' For the year Inception to 30 h
June2013 2013-2014 June2014
Disbursement by GOB 549.87 203.50 753.37
Less : Refund to GOB 84.23 5.26 89.49
Total 465.64 198.24 663.88
2. LOAN FROM DEVELOPMENT PARTNERThe DFID has pro,iJed funds to the project to co%er it's share ofeligble project expenditures as ---------------------
-------- have been draw.r by. the projec, in accordance with the following wthdrawal procedurcs In Lakh laka).
Inception to 301' For the year Inception to 3 0 h
June 2013 2013-2014 June 2014
Initial Deposit Ad'. aince_
DA AdJance 13506.00 2682.70 16188.70
RPA SOE Procedure) - - -
RPA on SOE Procedure) 15359.55 4173.70 19533.25
Others - -
Total= 28865.55 6856.40 35721.95
3. OTHERS RESOURCESOther resources consist of the following:
Inception to30Th For the year inception to 3 0T
June2013 2013-2014 June 2014
Project Kcienues - -
E xc,hag : gai ns. 14 - TTotal - -
4. CASHThe project maintiis tiv, ank accu: ., an imprest bank account. or revolving fund. which is kept at BangladeshBink to hold funds advanced b, ADB and an operating accounting, which is kept at a commercial bank to holdfund: ad-,anced hy GOB 4s well as funds tran,ferred from the imprk,t bank account. Year end cash balances wereas 1ollows (In Lakh Tika)
Inception to 30t' For the year Inception to 3 0h
June 2013 2013-2014 June 2014
Imprest Az( :uut
Ooentin.ccou.: RPA) 6194.21 1.71 6196.92
)pera'in Account (GOB
Total = 6194.21 2.71 6196.92
:1E~T>t F.OO uvruaaStatemecn 2, 1 '-14 Jkc, 3 ( AhMe'-- * U..
Auditors Report on Special Account
1. We have audited the Special Account Statement of the "Deepening MTBF and
Strengthening Financial Accountability Project" for the year 2013-14 under IDA grant no.
TF095283-BD.
2. Our Audit was carried out in accordance with International Auditing standards. Our audit
included such review of system of internal control, tests of the accounting record and
supporting documentation, verification of account balances, and other auditing procedures
that we considered necessary under the circumstances.
3. The Special Account Statements were prepared on the basis of cash deposits and withdrawals
for the purpose of complying with the above loan agreement.
(a) As per withdrawal application Tk. 2682.70 lakh was replenished by the donor during the
year 2013-14.
Opinion
In our opinion Special Account statements gives a fair view of the opening and closing balances and the
account activity for the year ended 30th June 2014 on the basis of cash deposit and withdrawals.
(Mst. Maksuda Begum)Deputy Director
For Director GeneralForeign-Aided Projects Audit Directorate.
Phone: 9361947
SPECIAL ACCOUNT STATEMENT
For year ending__ 3006/2014Account No I Deepening MTBF and Strengthening
Financial Accountability Project.
Depoitoy Bak ____- ___ :Agrani Bank Ltd
Address Central Law College Branch, Dhaka.
Related loan Credit Agreement TF095283-BD
Currenc : Taka
PART-A ACCOUNT ACTIVITY (RPA):
Taka (Lakh)
1. Opening balance:
Beginning baance- 1948.14
Sub-Total (1): 1948.14
2. Add:26.OTotas amount itd b Ie RA 6.7Total interest earnes if depost tled account amounTotal amount refunded to cover ineligible expenditure
Sub-Total (2): 2728.77
rTa n Total (1+2): 4676.91
3. Dedu ct.
l Lseri arges if not included above .amountwithdrais r.
Sub-Total(3): 4674.20
Eng i lance ofeGrand T sotal (2) - Sub Total (3)}: 2.71
P ART-B ACCOUNT RECONC-ILIATION:
Taka (Lakh)
1. Amount ad% ane bD 46208.12. Less total a-mount recovered by IDA4681
3. Equ,Fals present outstanding amount advanced to the Special
Account At fiscal year end (2013-2014) (1 - 21 27
4. Ending balance of Special account at fiscal year end 2.71
(2013-14) Total:
5. Plus amounts claimed and Not yet credited at fiscal year
end:
Nil Nil Nil
Total: (4+5) 2.71
6. Pus amount withdrawn and not yet claimedTotal:
7. Less interest earing (if included in Special Account)Total:
8. Plus service charcct f not included in lines and 6 above)
9. Equals total advance to speciai Account accounted for at 2.71
Fiscal year and 30.06.2014
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