World Bank Document€¦ · 18.08.2015 · Bangladesh Secretariat, Dhaka-1000. Audit completion...
Transcript of World Bank Document€¦ · 18.08.2015 · Bangladesh Secretariat, Dhaka-1000. Audit completion...
Secr~Lary ,
Minis try of Education, Bangladesh Secretariat, Dhaka-1000.
Audit completion date : 04-12-2014
I. We have audited the accompanying Financial Statement of "Higher Education Quality Enhancement Project (HEQEP)" as of June 30, 2014 and for the year the n ended. The
preparation of financial sta tement is the responsibility of Management. Our responsibil ity
i ~ to expre .., an opinion on the Financial Statement I based on our audit.
!I. We c nducled our audi t followi ng International Standards on Auditing. Those standards
require that we plan and perform the audit to obtain reasonable assurance about whether
the Finan ·wl Statement is free from materia l misstatement. An audit includes examining
on a test hasis evidence supporting the amounts and disclosures in the Financial Statement.
.\n audit also includes asse ing the accounting principles used and significant estimates madt: by lanagement as well as evaluating the overall Financial Statement presentation.
We hdieve that our audit provides a reaso nable basi-. for our opinion.
II I. The n: ults of our audit disclosed the following material aspects which affected the
Fin.mcial S ta tement:
a) Advance am unting Tk.5900793 .00 not adjusted during the year. But the amount was
shown in expenditure in the Financial S tatement (FS). As a result expenditure overstated in
the F.~ D tails are shown in Annexure-"B" Para no-02). IV. In our opinion. t:, cept ac; s tated in the preceding paragraph and non-compliance of finan ·ial
rule and r gulati( ns in sub equent obs rvations along wi th the financial position of management
letter follo\\ ing the Financial Statement giH' a fair view and true in all material aspects, of the
.. Higher Education Quality Enhancement Project (HEQEP)" as at 30 Ju ne, 2014 and the
results of it: operations and cash flows for the year then ended in accordance with the cash basis
of accounting f !lowed by the Government of Bangladesh .
Opinion statu : Qualified.
. ~~~~ (Md.Mamun-Ul-Mannan) f
Depu ty Director For Director General
Foreign Aided Projects Audit Directorate
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Higher Education Quality Enhancement Project Project Financial Statement Financial Year 2013- 2014
Year ended June 30, 2014
Cumulative Current
Taka in Lac
Cumulative Project Resources ~otes
I Prio r Period Period Current Period
Government of Bangladesh
Loan From IDA
Other Resources
Opening Cash Balance
Total Resources
Project Expenses
1 Salary & Allowances
2 Academic Innovati on Fund
3 Consulting Ser\ ices
4 Traini ng , Workshop, Conference
5 Supplies & Services
6 Vehicles
7 Equipment
8 Computer & fT Equipment
9 Computer Softv.are
10 Office Furnitures
11 Office Equipment
12 Constructions
13 Telecommunication
14 Honorari um
Sub Total for Project Expenses
15 In terest Deposit to Bangladesh Bank
16 Revenue deposit to Bangladesh Bank
Total Amount Deposit to Bangladesh Bank
Total Expenditure
Bank Closing Balance
17 COl\iT ASA Ban!-- Account
18 GOB Bank Account
T otal Ban k Closing Balance
T ota l Expend iture and Cash
Md. Nasser Ahm d, :.ccA. Fcw.Financ.at Managel'"lent Specialist HEQEP. UGC. Dhaka
I 803.99 309.07 1,113 .06
2 59,620.06 12,345.54 71,965.60
3 174.86 212.93 387.79
4 - 20,883.98 -60,598.91 33,749.96 73,464.89
43 2.25 182.70 61 -1. 95
32,1-13.97 I O.fl44.35 42. 1S8.32
1,63 !.-+6 715.39 2,346.85
972.44 216.22 1,188.66
3,309.97 456.98 3,766.95
104.76 36. 86 141.62
58.30 1.98 60.28
844.47 13.61 2.42 14,456.89
0.97 0. 17 1.14
18.3 1 9.06 ':. 7.37
20.59 "' .68 :.s ..... .., ... • ~ 1
2.58 2 1.27 23 .85
31.80 31.80
145.79 145.79
39,540.07 25,482.67 65,022.74 3 169.69 :J::: .49 382. 18
3 5.17 0.44 5.6 1
174.86 2 12.93 387.79
39,714.93 25,695.60 65,41 0.53
4 ~0,874 . 63 8,054.36 8,054.36 4 Q.35 - -
20,883.98 8,054.36 8.054.36
60,598.91 33,749.96 73,464.89
~~ .~:2-b;rB Md. Zaha~dc >...7 I • ~ r Project Director (Additional Secretary )
Higher Educatio n Quality Enhancement Project
GOB Ex pen cs ! for Curren t
Period
182."'0
o.-7
131.5..,
0.06
0.-t:.'
or 0.12
0.0
315.82
I
·,
Higher Education Quality Enhancement Project !'IOT ES TO TH E F I!'IANCIAL ST ATEME~T
301h June, 2014
GOVER!'IMCYf Of' BA~GLADESH .
Fu nd!> are al !o.:ateu b) the g \·crnment of B;mgladesh to cov.:r (J B's share f eligi ble pro iect expenditure, as specified in th,· pr icct pro-forn a anJ in the ,·\ nnual De\-elopm nt ProgrJmme for each year f the proj.:ct. An) allocated funds
th.!t ha\c n(lt !"I c:n t::X r : nJed b) the .:nd of the iiscal )e. r laspe nd must be rcturnd t GOB. OB contribution to the pro jcll since im.epti 11 are as fo lln\' (in lak.h Taka)
Taka in Lakh Inception to For the yea r Incept ion to
30'11 June, 2013 2013-2014 301h June, 2014
Disbursement:. bv GOl3 824.00 1) 13.00 1,737.00 L>~ : Refunds to GOR ,2 0.0 1) (603.93) (623.94 ) Total: 803.99 309.07 1,113.06
Th · lOA has prf• iJeJ . unJs 111 th~ ~ rojcct h. ::o\ er it' ,hare of eligible r •. k ct expenditures. These fun s , which must bt. r ~ r ,t iJ t• ID \ <~ ftcr t•t .. t ndusi n of thc roject, ha ' been Jn, an b; the project in accor ance with the foll0wing \A ithurwa l rr c' CcJurcs ·n lakh TakJ I
laka in Lakh Incept ion to Fo r the year Inception to
30'h Ju ne, 20 13 2013-1 4 301h J une, 2014
lnll tal Dero~•l ' ·\d ance 1 -
DPA ,Dtr.:ct Pa)nt.:nlJ -RPA )()i::. Pro.:Jure ) -RPA \un SOE Procdure . -
IU -\ t fCport lia~~~~~ 59.621J Ob I~ 345.54 7 I,9M.r .t
Uther$ . -
Total 59,620.06 12,345.54 71,964.04
3 OTHlR RESO l RCE. ·. Ott.er'> Rcst•un:cs cons is. 1 t tl e foil •• ' ing:
f aka in I aJ, h ~
Inception to For the year Inception to
301h Ju ne, 2013 20 13-14 301
h J une, 20 14
R<!' cnu.: dept~si t to Ban~ laJcsh Bank 5.17 0.44 5.61
lnterc-.t derosit t0 B., ngJ.,dt:~h Bank J69.bY 2 1 2. ~ 9 382.1/l
ITotoJI: 174.86 2 12.93 387.79
i
LASH: The Projec t maintains two bank account:
pe,; ial \ccounts: 0 'T <.; \ t Sl L) . h)41l()l),.p -) kept in Janata Bank. limi t J . { 'G C. Bh• ban Br· ch, Dhaka to operate fu nd
c\h :JO ' L b . IDA
Orerat~i r'!g :\ cc• ur.t : C ) H I 003 8'J3 k.:pt in J;ma:, Ban!-. Limited, L'G<. Bhc.i' n Bram:h, Dhaka to operate fund of GOB.
t CJ\!T \'>A \ ~ c ,, ,,uts
Uperating .. \._,_, un t t( ,()R
T ota l
Opening Bula nce
30'" June, 2013
2tJ._874 ()1
9.35
20,883.98
T ka in Lakh
Closing Balance
JO'h J une, 201 4
8,054.36
8,054.36
Md. Zahanglr Ala m . ndc P•o1ect Dl1eclor (Aadr al SecfetarvJ 4 n""r. • C A ., _ ... ,... ··
• AUDITOR'S REPORT O N CONTASA ACCOUNT
1. We have audited the CONTASA Account Statement of "Higher Education Quality
Enhancement Project'' for the year ended on 30 June. 2014 fi nanced under
provision of IDA under credit No. 4544-BD.
2. Our audit was carried out in accordance with International Auditing Guideline.
Accordingly, our audit included such review of system of internal control, tests o f
the accounting records and supporting documentations, verification of account
balance and other auditing procedures that we cons idered necessary under the
circumstances.
3. The accompanying CONTASA Account Statement was prepared on the basi of
cash deposits and withdrawals for the purpose of complying with the above credit
covenant.
OPINION
In our opinion. the CONTASA Account S tatemcnt(Annexure·"A'' attach) gives a
true and fair view of th accounting activities for the year ended 301h June. 20 14 on
the basis of cash deposits and withdrawal .
(Md.Mamun-ll·.\-lannan) Depu ty Director
For Director General
r I
F reign Aided Project Audit Directorate
1
2 -3
4
5
6
7
8
1
2 3
4
5
6
7
8
9
Higher Education Quality Enhancement Project For the year ended June 30, 2014
Financial Year 2013-2014 CONTASA Account Statement (IDA
Depository Bank
Address
Loan I Credit Agreement
Currency
Part A: Account Activity
CONTASA Begining Balance as on July 1, 2013 (note-3) Add: Total Amount Deposited by World Bank till June 30. 2014 (note -1)
Total amount refunded to cover eligible expenditure
Deduct: Total amount withdrawn
Total service Charges if not included above in amount withdrawn
CONTASA Ending Balance as on June 30, 2014 (note-3)
Part B:Account Reconciliation:
June 30, 2014
STD-0040004 7 5
Janata Bank Limited
UGC Bhaban Branch, Agargaon, Dhaka
45440-BD & 53320-BD
BOT
Amount in BOT
2,087,462,982.03
7, 137,1 86,758.31
9,224,649, 7 40.34
8,419,21 3,282.33
-805,436,458.01
Amount advanced by World Bank from inception to June 30, 2014 (note-1) 7 137.186,758.31
Less: Total amcunt recovered I docume'lted by World Bank 5, 11 3,1 65,507.77
till June 30, 2014 (note- 2)
Presert Outstanding amoun advancec to the special account for FY ended 2,024,021,250 54 June 30, 2014
CONTASA Ending Balance ended June 30 2014 (note- 3; 805,436,458.01
Plus: amount cla imed and yet credited at FY ended June, 2014 -Application No. I I I Amount
Plus: amount withdrawn and yet claimed
Less: 1nterest earning (if included in CONT ASA amount}
Plus: Services Charaes (if r ot included in lides 5 & 6 above) Total advances to special account for FY ended June 30, 2014
1,218,584,792.53
--
2,024,021 ,250.54
,-- ~ ~ ;) C-' ,If/?! Z)? :2111- ~~ \ ~ \ ft
Md. Nasser Ahmed, FCMA Financial Management Specialist HEQEP 1
Higher Education Quality Enhancement Project For the year ended June 30, 2014
Fi nancial Year 201 3- 2014 CONTASA Account Statement (IDA)
Note: 1 Amount i:-1 SOT
Cumulative advances from tnceptior to ...1p until Marcn 12. 2014 6,053,186,758.31 Add: Advance received on June 2S , 2014 for additional financing 1 084,000,000 .00
Total amount deposited I advanced by world bank 7,137,186,758.31
Note: 2
Expenditu·e docurTented bf HEQEP unti \ March 3' 20 1~ 3 5J1,1 64 ,S51.45 Add· Expenditure to be documented from April to June 30 2014
1 jfor old financing I lean number 45440- 8 0 1,591,324,095.32
2 !for r.ew financing I loan number 53320 - 8 0 20 676,461.00 Total amount recovered I documented by World Baf'k 5,113,'1 65,507.77
Note: 3
Regar ing CO TP..SA ceginning and er d1 g ban K balance a o .... t rease ~; e r fy ,,., . h tank :-:'c rma:ior
.. AUDIT OPINION ON SOE
We have audited the Statement of Expenditure (SOE) of the "Higher Education
Quality Enhancement Project" fo r the year than ended 30th June 2014 submitted to the
World Bank for reimbursement of expendi ture in accordance with the IDA credit
agreement.
The audi t was conducted follow ing International Stand rd on Auditing.
Ac ·ordingly. it included such tests of the accounting and supporting documents, review of
:ystt.:m of intt: rnal controL ~o fa r exists. and adopting necessary auditing procedures that
we considered essential under the circumstances.
WITHDRAWAL/SOE PARTICUlARS
Withdrawal application /SOE. The Project authori ty claimed Tk.1637252881.70
for reimburse but the Donor disbursed an amount of Tk.1234554150.00 which was cl im
submitted \\ ith previous year. A" such less di bursed Tk.402698731. 70 (Tk.
lo37252RR 1.70 - Tl-.. 1234:541 50.00). Details are shown in Annexure- '"B"
OPINION
In our opinion, World Bank could rely upon the Statement of Expenditure (SOE),
c.\cept a discussed in the oh~crvation · is~ued under section-II of this report, to support the
applications for redit disburc;ement for expendi ture incurred for the purpose of the Project
specified in the particulars o withdrawal applications. .~
~~ _.) ·;, I · I ~ [ <-t
(Md.Mamun-Ul-Mannan) j Deputy Director
For Director Ge neral Foreign Aided Projects Audit Directorate
WAno
WA-17
WA-19
WA-18
WA-001 (AF)
~
HEQEP
SUMMARY OF WITHDRAWAL APPLICATIONS
For the year 2013-14
Date Amount Cla imed Amount Received Different
21/ 01/2014 150,554,150.00 150,554,150.00 -18/06/ 2014 308,716,000.00 - '3 o<J _j-r (.,Q.QQJ
11/ 5/ 2014 93,982,731.70 -4/6/2014 1,084,000,000.00 1,084,000,000.00 1'' ,fJPjJ.? f .. }r
I - '\
1,637,252,881.70 1,234,554,150.00 -4U).6'2.&1_.·31 .. j
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Remarks I
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Ap-June2011 ! I
,net-dec 2013 I
jan-March 2014 I
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