AUDITOR'S REPORT. Public Disclosure Authorized. Public Disclosure Authorized

Transcription

1 Public Disclosure Authorized Public Disclosure Authorized Secretary The Economic Relations Division Ministry of Finance, Sher-e-Bangla Nagar,Dhaka. AUDITOR'S REPORT Audit Completion Date: I. We have audited the accompanying financial statement of the "Private Sector Development Support Project (PSDSP) fnianced by IDA under Credit No.4866 BD & DFID Grant No. TF as on 30 June 2016 and for the year then ended. The preparation of the financial statement is the responsibility of management. Our responsibility is to express an opinion on the financial statement based on our audit. II. We conducted our audit in accordance with International Standards on Auditing. Public Disclosure Authorized Those standards require that we plan and perform audit to obtain reasonable assurance about whether the financial statement is free of material misstatement, An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures made in the financial statement. An audit also includes assessing the accounting prihciples used and significant estimates made by 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, except non-compliance of financial rules and regulations in subsequent observations stated along with the management letter following the Financial position of "Private Sector Development Support Project "as at 30 June 2016 and the result Public Disclosure Authorized of its operations and the 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. (Md. Ab ulkalam Azad) Ekputy Director For irector Cenmal Foreign Aided Project Audit Directorate. Phone: \t!ito.a\rpoil Final (RTIP & Hi-tchit-IDA-PSDSP- Pivito Sctor -BEZPA- (J Alwtsir)----.doo

2 Private Sector Development Support Project (PSOSP) Project Financial Statement 30th June, 2016 f Figure In lakh Taka) Resources Notes Cumulative Current Cumulative Prior Period period Current Period Government of Bangladesh , Loan from Development Partner (IDA) 2 19, , ,253.9 Grant from Development Partner ()FID) 3 7, ,576,6 9,342,27 Other resources (Bank Interest & others) d CONTASA Account S Opening Balance (IDA) 6,58S.99 Opening Balance (DFID) 2, Cash opening balance 6 2, Bank Interest 27, , , Expenditure and Cash (According to PP) 1. Pay & Allowances. 1, , Honorarium Office Operatinal Cost Office Consumables S.Printing/Publication/Book/Journals/Advertisement , Seminers/Workshops/Study Tour Repairs & Maintenance Telephone/Fax/internet/Electricity Vehicles Rental Vehicle ffIce Equipment Office Furniture/ Fitting & Fixture Consultancy Service 376, Computer/Scaner/Laptop/Printer , ,42.2 Loan IDA) frm Develpment artner 6, ,549, Solar Panel, Street Light.Grat & CD frm Vat Dvelomen Parner(081) 1,174.2B, , ,Office Decoration Operating Acount (TWA , ,4.3, Entertainment ISTravel Expenses Others Expenses Insurance/Bank Charges License fee/site Clearance & others U2 22. Resettlement Cost Computer Consumables Out Sourcing SeM19.I Development Expenditure 8, , ,056,74 14~~~~~44 Ra'Q13 IS!Q , Contingencies Land Acquisition & Development 3, , Bannk lnterst Total Expenditure 16,6( ,799,13 27,44923 Cash Closing BalanceC CONTASApAccounteriodCu Total Epdter23, z A '- t.ah 1 2, i G" 1 rol '11.n R Jubair HOS01i Khan eusac.qaa ~ U$pcuPSS RlnaseQrlAcGoUnnm & Finance) - miqnvist ReolFna-iiioecnoi aow emen r11pu Prols1t 11.ItO 1795 Mi4036E 19,55u,2i rdI57

3 Private Sector Development Support Project (PSDSP) NOTES TO FINANCIAL STATEMENT 30th June, Goverment of Bangladesh Funds are allocated by the Government of Bangladesh to cover GOB's share of eligible project expenditures, as specified in the Project Pro-forma and in the Annual Development Programme for each year of the project. Any allocated funds that have not been expended by the end of a fiscal year lapse and must be returned to GOB. GOB contributions to the project since inception are as follows(in lakh Taka): Particulars Inception to 30th For the year Inception to 30th Disbursement by GOB Less: Refund to GOB Total: Loan from Development partner (IDA) The IDA has provided funds to the Project to cover it's share of eligible Project expenditures. These funds, which must be repaid to IDA after the conclusion of the Project, have been drawn by the Project In accordance with the following withdrawal procedures. Inception to 30th For the year inception to 30th Initial Deposit (Advance) 19,873,20 10, , DPA (Direct Payment)_ RPA (SOE Procedure) RPA (Non SOE Procedure) Others Total 19, , , Grant from Development partner (DFID) The DFID has provided funds to the Project to cover it's share of eligible Project expenditures. These funds, which must be repaid to DFID after the conclusion of the Project, have been drawn by the Project In accordance with the following withdrawal procedures. ParticularsI Inception to 30th For the year Inception to 30th Initial Deposit (Advance) 7, DPA (Direct Payment) RPA (SOE Procedure) RPA (Non SOE Procedure) Others Total. 7, , , Others Resources Others Resources consist of the following: Particulars Inception to 30th For the year Inception to 30th Project Revenues interest on Bank Total Cash The Project maintains One bank accounts: A special account : Operating A/C ( & ) which is kept In IFIC Bank Limited Dhanmondi Branch, Dhaka to hold funds advanced by IDA and operated by the Project Coordinator, Year end cash balances were as follows: Particulars Inception to 30th For the year Inception to 30th CONTASA Account 9, , , Operating Account (RPA) 2, , , Operating Account (GOB) Total 11, , , air Hossain Khan financ63 Management 5P 0 ri6 t 5 0 D0 osf gor (Accounts & Finance) Eco P nsrdivision P atk. CCRlPSOSP DiMlnnipatnM ianlsion ai 'imorelationjll)mnslyo iac.~ ' J

4 AUDIT OPINION ON SOE 01. We have audited the statement of expenditure (SOE) of the "Private Sector Development Support Project" for the year 30 June2016, submitted to the World Bank for reimbursement of expenditure in accordance with IDA Cr No BD and DFID Grant No:TF The audit was conducted following International Standards on Auditing. Accordingly it concluded such test of accounting records and supporting documentations, review system of internal control so far exists, adopting necessary auditing procedures that we considered essential under the circumstances. 03. The particulars of Withdrawal on the basis of SOE as submitted to the audit team are shown in the enclosed statement, 04. In our opinion the SOE can be relied upon, to support the applications for credit and grant disbursement by the IDA against expenditure incurred for the purpose of the project as specified lif particulars of withdrawals applications. Opinion Status: Unqualified. (Md. Abul Kalati Azad) aputy I)sctr For Director Ceral Foreign Aided Project Audit Directorate. Phone: IMMlilomRept Finld(RTIP &Hik;cli)1DA,PSDSP- Private Sector-BEZPA (3 Alan sir)--.doe 24

5 Private Sector Development Support Project (PSDSP) Re-imbursement Statement on the basis of SOE for the Year (in BDT) Amount si. Application No. Amount Total Disbursed/ Total Difference Remarks No. & Date Claimn Receipts IDA DFID IDA DFID IDA DFID /App.20A 395,728, ,728, ,728, ,728, /App ,286, ,286, ,286, ,286, /App ,899, ,899, ,993, ,993, ,905, /TF i9a 124,448, ,448, ,448, ,448, /TF ZOA 33,227, ,227, ,227, ,227, Total 1,332,914, ,675, ,490,590, ,038,008, ,675, ,195,684, ,905, oa5ain aubair Khan ftanagør(accounts & Financej *-' CCUPSDSP Economic Relations Division -Fnianc atfmsnigement Spec ais~ ceu-psus

6 AUDITORS REPORT ON SPECIAL ACCOUNT 1. We have audited the special account of "Private Sector Development Support Project "under IDA Credit No.4866 BD and DFID Grant No:TF for the year ended 30 June Our audit was carried out in accordance with International Audit Guidelines. Accordingly our audit included such review of system of internal control, test of the accounting records and supporting documentation, verification of accounts balances and other auditing procedures that are considered necessary under the circumstances, 3. The accompanying Special Accounts Statements were prepared on the basis of cash basis cash deposits and withdrawals for the purpose of complying with the above loan covenant. 4. In our opinion, the Special Account Statement gives a fair view of the account for the year ended 30t" June 2016 on the basis of cash deposit and withdrawals. (Mc. Abut Kataim A-ad) Tk:puty Director For lmctor ierai Foreign Aided Project Audit Directorate. Phone: ;161411ton\Report Finrl (RTIP & Hi-tch)k-IDA-PSDSP- Privle Sector -BEZPA-(3 Aloin si)--,doc 25

7 SPECIAL ACCOUNT STATEMENT IDA 1 For the Year Ending Account No (BDT) IDA: Depository Bank IFIC Bank Ltd.,Dhanmondi Branch. 4 Related Loan/Credit Agreement No IDA Loan No BD 5 Currency nmilio BDT (Figure in Lac) PART-A ACCOUNT ACTIVITY. Rate 80 USS BDT Beginning balance as on (BDT) 8.23 equivalent 6, Total amount deposited by WB (IDA)/BDT A/C , Total amount refunded to cover ineligible Expenditure BDT A/C) equivalent 10, Deduct: Total amount withdrawn Total services Charges if not included above Amount withdrawn Ending Balance, As on 30/06/2016 (BDT A/C) ,0549 PART-B ACCOUNT RECONCILIATION 1 Amount advanced by WB (BDT A/C) ,053,49 2 Less : Total amount recovered by WB 3 Equal: Present outstanding amount advance to the Special Account at Finanacial Year ended 4 Ending Balance of Special Account at Fiscal Year ended (BDT A/C) , Plus : Amount claimed but not yet claimed (Operating A/C) 6 Plus :Amounts withdrawn but not yet claimed (Operating A/C) 7 Less : Interest earning (if not included in special Account)* 8 Plus : Service Charges (if not included in lines 5 and 6 above) 9 Equal :Total advance to special Account accounted for fiscal Year ended Mcd. Mh bull H>qvze financial Management petiallst Manager Accounts & Financein CCLJ..PSOSP Economic Relations orviston =j-upsd$p EJunr 1Dc-Relations oivlsioq4 of Financei ov~t or(nspe0'pj4'i l1epu bil; ofljang!adpsh mlon(ltrf

8 SPECIAL ACCOUNT STATEMENT DFID 1 For the Year Ending Account No BDT A/C DFID Depository Bank I Bank Ltd.,Dhanmondi Branch. 4 Related Loan/Credit Agreement No :FID Grant No. TF Currency US$ in million BDT (Figure in Lac) PART-A ACCOUNT ACTIVITY. Rate Beginning balance as on (BDT) 3.14 equivalent 2, Total amount deposited by WB (DFID) /BDT A/C 1.94 equivalent 1, Total amount refunded to cover ineligible Expenditure BDT A/C 4.20 Pquil 3, Deduct: Total amount withdrawn Total services Charges if not included above Amount withdrawn Ending Balance, As on 30/06/2016 BDT A/C 0.91 equivalent 727,48 PART-B ACCOUNT RECONCILIATION 1 Amount advanced by WB 0.91 equivalent Less: Total amount recovered by WB 3 Equal: Present outstanding amount advance to the Special Account at Finanacial Year ended 0.91 equivalent Ending Balance of Special Account at Fiscal Year ended BDT A/C 0.91 equivalent Plus: Amount claimed but not yet claimed (Operating A/C) 6 Plus :Amounts withdrawn but not yet claimed (Operating A/C) 7 Less : Interest earning (if not included in special Account)* 8 Plus : Service Charges (if not included in lines 5 and 6 above) 9 Equal :Total advance to special Account accounted for fiscal Year ended ,'JubairNHossan tl "Ia Mnaer (Accounts & Finance) Ec:cUl lubul-hoque rlmaaeet$iiri.r Gomi MinBDTry Finance.. i (g RelatlD~ of the 0 Rel"iAtlubli of Banufadaol;