Integrated Development Foundation (IDF) Audit Report, 30 June 2011

AUDITOR'S REPORT

We have audited the annexed Balance Sheet of Integrated Development Foundation (IDF) as at 30th June, 2011 and Income and Expenditure Account and Receipt and Payment Account for the year ended then. The preparation of these Financial Statements is the responsibility of the Foundation’s Management. Our responsibility is to express an independent 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 plan and perform the audit to obtain reasonable assurance about whether the Financial Statements are free of material misstatement. The audit includes, examining on a test basis, evidence supporting the amounts and disclosures in the Financial Statements. The audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall Financial Statements presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the Balance Sheet, Income & Expenditure Account and Receipt and Payment Account and Other Statements were prepared in accordance with Bangladesh Accounting Standards (BAS), give true and fair view of the state of the Foundation’s affairs as of 30th June, 2011 and of the result of its operations for the year ended 30th June, 2011 and comply with applicable rules and regulations issued by Bangladesh Bank and other applicable laws and regulations.

We also report that:

a) we have obtained all the information and explanations which, to the best of our knowledge and belief, were necessary for the propose 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 Foundation so far as it appeared from our examination of those books;

c) the Foundation’s Balance Sheet and Profit and Loss Account dealt with by the report are in agreement with the books of accounts and returns;

d) the expenditure incurred was for the purposes of the Foundation;

e) the financial position of the Foundation as on 30th June, 2011 and the profit for the year from 01st July, 2010 to 30th June, 2011 have been properly reflected in the Financial Statements have been prepared in accordance with the Generally Accepted Accounting Principles (GAAP);

f) the records and statements submitted by the branches have been fairly maintained and consolidated in the Financial Statements;

Zoha Zaman Kabir Rashid & Co.
Chartered Accountants

Integrated Development Foundation (IDF)

BALANCE SHEET AS ON 30 JUNE 2011