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A Presentation on AuditReport to shareholder

Audit Report's To Share holder

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Page 1: Audit Report's To Share holder

A Presentation on AuditReport to shareholder

Page 2: Audit Report's To Share holder

I am Moin Sarker ID-2534

I am here with my Group because I love to give presentations.

Hello!

Saiera Kabir ID - 2546

Md.Sohel ID - 2287

Nasrina Sultana ID - 2548

DHM Golam Dastagir ID- 2544

Chandrima Majumder ID - 2543

Page 3: Audit Report's To Share holder

Audit Report An audit report is a written opinion of

an auditor regarding an entity's financial

statements. The report is written in a standard

format, as mandated by generallyaccepted auditing standards.

1

Page 4: Audit Report's To Share holder

National Credit and Commerce Bank Annual Report | 2012

Presented By Moin Sarker

ID – 2534

Page 5: Audit Report's To Share holder

Elements of Audit report to shareholders

According to BSA 700, the audit report should

include the following basic elements, usually in the

following layout:

1.Title2.Addressee3.Introductory paragraph identifying the financial statements audited4.A statement of management's responsibility for the financial statements5.A statement of the auditor's responsibility6.Scope paragraph, including a description of the work performed by the auditor7.Opinion paragraph containing an expression of opinion on the financial statements8.Date of the report9.Auditor's address10.Auditor's signature

Page 6: Audit Report's To Share holder

Unqualified Opinion Becasue The unqualified opinion has no reservations concerning the

financial statements. This is also known as a clean opinion meaning that the financial

statements appear to be presented fairly like this.

Which types of Opnion Auditors was given to this annual report & why ?

The auditor has given this opinion upon receiving and checking following documents and criteria: ◉Necessary information and explanation;

◉All expenditure incurred during the year were for the purpose of Bank’s business;

◉Profit for the year then ended have been reflected properly;

◉Presentation of financial statements is as per Bank Company Act 1991 and in

accordance with the accounting rules and regulations issued by Bangladesh Bank;

◉Checking adequacy of provision for loans and advance and suggestion given by

Bangladesh Bank and finally provision kept by the Bank as suggested by Bangladesh

Bank;

◉After reviewing 80% of the risk weighted assets by spending 3,150 person hours by

visiting various branch situated in and outside Dhaka;

Page 7: Audit Report's To Share holder

Presented By Saiera Kabir ID – 2546

Page 8: Audit Report's To Share holder

Basic Elements of Audit Report

◉The auditor's report includes the following basic elements, ordinarily in the following layout:◉Title;

◉Addressee;

◉Opening or introductory

paragraph.

◉Scope paragraph.

◉Opinion paragraph.

◉Date of the report;

◉Auditor's address; and.

◉Auditor's signature.

Page 9: Audit Report's To Share holder

The opinion in audit report of One Bank Limited for the year ended

31 December 2012 gives unqualified opinion, which means that the

auditor of ACNABIN Chartered Accountants believe that the

financial statements of One Bank Limited give a true and fair view

of the state of affairs of the Bank

Opinion types

Page 10: Audit Report's To Share holder

Presented By Nasrin Sultana ,ID -2548

Annual Report of Jamuna Bank | 2013

Page 11: Audit Report's To Share holder

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Element’s of Audit report’s to shareholder

According to A handbook on Practical Auditing by

B.N.Tandon & Others, the audit report to shareholders

should include the following basic elements, usually in the

following layout :

◉title;

◉addressee;

◉opening or introductory paragraph

◉scope paragraph (describing the nature of an audit)

◉opinion paragraph containing

◉date of the report;

◉auditor's address; and

◉Auditor’s signature.

Page 12: Audit Report's To Share holder

The opinion in audit report of Jamuna Bank Limited for the year

ended 31 December 2013 gives unqualified opinion

Opinion Type

Page 13: Audit Report's To Share holder

Presented By DHM Golam Dastagir

ID- 2544

Bangladesh Development Bank Limited |2013

Page 14: Audit Report's To Share holder

responsibility for the financial statements

◉Management’s

◉Management is responsible for the preparation and fair presentation of these financial

statements in

◉Accordance with international Financial Reporting Standards, and for such internal control as

◉Management determines is necessary to enable the preparation of the financial statements that

are

◉Free from material misstatement, whether due to fraud of error.

◉Auditor ◉Our responsibility is to eelgrass an opinion on these financial statements based on our audit. We

conducted our audit in accordance with Bangladesh Standards on Auditing (BSA). Those standards require

that we comply with ethical requirements and plan and perform the audit to obtain Reasonable assurance

about whether the financial statements are free from material misstatement. An audit involves performing

procedures to obtain audit evidence the amounts and disclosures in the financial statements. The

procedures selected depend on the auditor's judgment, including the Assessment of the risks of material

misstatement of true financial statements, whether due to fraud or error. Ln making those risk assessments,

the auditor considers internal control relevant to the entities preparation and fair presentation of the financial

statements in order to design audit Procedures that are appropriate in the circumstances, but not for the

purpose of eleressing an Opinion on the effectiveness of the enmities internal control. An audit also includes

evaluating the Appropriateness of accounting policies used and the reasonableness of accounting estimates

made by management, as well as evaluating the overall presentation of the financial statements.

Page 15: Audit Report's To Share holder

◉In our opinion, the financial statements present fairly in all material respect for the period ended December

3l, 2013 in accordance with Bangladesh financial Reporting Standards (BFRS).

◉We also report that;

◉a) We have obtained all the information and emanations which to the best of our knowledge and belief were

necessary for the purposes of our audit and made due verification Thereof;

◉b) In our opinion, proper books of account as required by law have been kept by the entity so far as it

appeared from our examination of those books.

◉c) The financial statements dealt with by the report are in agreement with the books of account.

◉Report on Other Legal and Regulatory Requirements

◉In accordance with the Companies Act 1994, the Bank Companies Act, 1991 and the rules and regulations

issued by Bangladesh Bank, we also report the following:

◉(a) We have obtained all the information and explanation which to the best of our knowledge and belief were

necessary for the purpose of our audit and made due verification thereof;

◉(b) To the extent noted during the course of our audit work performed on the basis stated under the Auditor’s

Responsibility section in forming the above opinion on the financial statements of the Bank and considering

the reports of the Management to Bangladesh Bank on anti-fraud internal controls and instances of fraud and

forgeries as stated under the Management’s Responsibility for the Financial Statements and Internal Control;

◉i) Internal audit, internal control and risk management arrangements of the Bank as disclosed in note 2.17 &

2.20 of the financial statements appeared to be materially adequate;

◉ii) Nothing has come to our attention regarding material instances of forgery or irregularity or administrative

Error and exception or anything detrimental committed by employees of the Bank and its related entities Other

than matters disclosed in these financial statements;

◉(c) In our opinion, proper books of account as required by law have been kept by the Bank so far as it

appeared from our examination of those books;

◉(d) The balance sheet and the profit and loss account dealt with by the report are in agreement with the

books of Account;

Opinion

Page 16: Audit Report's To Share holder

Presented By Chandrima Majumder

ID- 2543

Annual Report of Standard Bank Limited

Page 17: Audit Report's To Share holder

Basic Elements of Audit report to shareholders

#Comment on content of audit

reports:

The overall conclusion of audit

reports are fulfil all the content of audit

reports.

# Comment on element &

qualification of audit reports:

All the element like title,

addressee, signature, identification

of the financial statement audited,

the date of the report, a reference to

the auditing standard, practices

followed, expression or disclaimer of

opinion on the financial statement,

auditor’s address are followed by

this report. All the qualification are

also meted in this reports.

Page 18: Audit Report's To Share holder

Opinion

#Comment on opinion:

The auditor expresses his opinion about the

financial information reported in annual statements

of accounts in qualified opinion because in his

opinion he said:

h) Certain provisions for Advances & other assets

have been deferred as per instruction of

Bangladesh Bank vide Letter # DBI-1/111/2014-

851 dated 09.04.2014 as disclosed in notes- 34(a),

9.2 &12.2 which are, in our opinion, doubtful of

recovery.

By this one opinion we can clearly understand

that he is not satisfied with this Bank Advances

&Other assets recovery.

Page 19: Audit Report's To Share holder

Any questions ?

Thanks!

Page 20: Audit Report's To Share holder

The End

Page 21: Audit Report's To Share holder

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