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A Presentation on AuditReport to shareholder
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
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
National Credit and Commerce Bank Annual Report | 2012
Presented By Moin Sarker
ID – 2534
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
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;
Presented By Saiera Kabir ID – 2546
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.
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
Presented By Nasrin Sultana ,ID -2548
Annual Report of Jamuna Bank | 2013
Place your screenshot here
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.
The opinion in audit report of Jamuna Bank Limited for the year
ended 31 December 2013 gives unqualified opinion
Opinion Type
Presented By DHM Golam Dastagir
ID- 2544
Bangladesh Development Bank Limited |2013
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.
◉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
Presented By Chandrima Majumder
ID- 2543
Annual Report of Standard Bank Limited
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.
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.
Any questions ?
Thanks!
The End
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