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MONITORING
& AUDIT
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Internal Audit
IDF established independent Internal Audit Team in 2000 with
a view to maintaining and improving the quality of work of its
Microfinance program. The Team was formed by two experienced
staff-members of IDF. The Team is responsible directly to the
Executive Director for its work.
The team visits branches, area, central coordination and head
offices to examine the books of accounts, various registers,
loans and savings collection sheets, various ledgers and to
verify the ledgers and collection sheets with the records and
pass books of members. The team also examines the utilisation
of loans by the members.
The team corrects the mistakes and errors at branch level if
possible. For mistakes and errors, which are not able to be
corrected at the branch, one-month is allowed to correct them
and report to the Executive Director. For wilful minor mistakes,
administrative measures are taken while for misappropriation
major action is taken.
As of December 2009, all 57 branches (includes new branches),
area and Central Co-ordination Office have been audited by turn.
The internal audit was found to be a very fruitful tool for
maintaining and improving the quality of work.
External Audit
A Chartered Accountancy Firm appointed by IDF Annual General
Meeting on competitive basis carries out external audit for
IDF. Khan Wahab Shafique Rahman & Co. audited IDF accounts
for July 2008-June 2009.
Audit Report 30 June 2010
Audit farm:
Zoha Zaman Kabir Rashid & Co.
Dhaka Chamber Building
65-66, Motijheel, Dhaka-1000 | |
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