Audit & Assurance
Independent statutory audits, tax audits, NGO/donor project audits, and special-purpose assurance engagements under ISA and BFRS/IFRS.
Service Overview
Independent financial statement assurance is the cornerstone of corporate governance and stakeholder confidence in Bangladesh. Whether required under the Companies Act 1994, the Income Tax Act 2023, or donor grant agreements, an audit must provide more than a procedural signature—it must offer an objective, methodical examination of financial records and internal controls.
At M.S. Salekin & Co., every assurance engagement is planned and supervised directly by Mohammad Sirajus Salekin, FCA in accordance with International Standards on Auditing (ISA) as adopted in Bangladesh and Financial Reporting Standards (IFRS/BFRS). We maintain strict professional independence and issue clear Management Letters highlighting control observations alongside the formal audit report.
Who This Service Is For
- Private and Public Limited Companies registered with RJSC requiring annual statutory audit
- Entities subject to mandatory audited financial statement submission under the Income Tax Act 2023
- Local and international NGOs requiring NGOAB (FD-4) or donor-funded project audits
- Provident Funds, Gratuity Funds, WPPF trusts, and educational or healthcare institutions
- Boards, lenders, and joint-venture partners requesting special-purpose audits or agreed-upon procedures (ISRS 4400)
What We Do & Key Deliverables
Every engagement is scoped in writing with clear outputs reviewed by Mohammad Sirajus Salekin, FCA.
Statutory Financial Statement Audit
Independent examination of annual financial statements under the Companies Act 1994 and IFRS/BFRS, including DVC (Document Verification Code) compliance as applicable under ICAB guidelines.
Income Tax & Regulatory Audit
Verification of accounts, withholding tax compliance, and schedule reconciliations required for corporate return submission to the National Board of Revenue (NBR).
NGO & Donor-Funded Project Audit
Project-specific expenditure verification, fund utilization statements, and FD-4 certification packages for NGO Affairs Bureau (NGOAB) and international development partners.
Review Engagements & Agreed-Upon Procedures
ISRE 2400 limited assurance reviews and ISRS 4400 factual findings reports on specific financial balances, inventory counts, capital expenditure, or grant disbursements.
Management Letter on Internal Controls
Actionable report identifying accounting discrepancies, tax exposure, and internal control weaknesses discovered during the audit, paired with practical remediation steps.
Documents Typically Required
We share a customized document request list upon engagement onboarding. Core records typically include:
- Trial Balance, General Ledger, Cash/Bank Books, and draft Financial Statements for the income year
- Bank statements, bank reconciliation statements, and balance confirmation certificates
- Certificate of Incorporation, Memorandum & Articles of Association, Form XII, and latest Trade License
- Monthly VAT returns (Mushak 9.1), withholding tax challans (TDS/VDS), and prior year income tax assessment order
- Fixed asset register, physical inventory sheets, sales/purchase invoices, and payroll registers
- Board minutes, loan sanction letters, lease agreements, and donor grant contracts (for NGOs)
Typical Engagement Timeline
Actual turnaround depends on transaction volume, readiness of primary records, and regulatory authority processing queues.
Engagement Acceptance & Planning
Independence verification, engagement letter issuance, and preliminary risk assessment.
Fieldwork & Substantive Testing
Voucher sampling, ledger reconciliation, physical/third-party confirmations, and tax schedule checks.
Draft Reporting & Management Discussion
Review of draft financial statements, disclosure notes, and Management Letter observations.
Final Sign-Off & Issuance
Board approval of financial statements and delivery of signed Auditor’s Report.
Relevant Bangladesh Laws & Authorities
The Companies Act 1994
Mandates annual statutory audit of limited companies in Bangladesh
ICAB & FRC Bangladesh
Governs auditing standards (ISA), financial reporting (IFRS/BFRS), and ethical conduct
Income Tax Act 2023 (NBR)
Specifies thresholds and conditions for audited financial statements with tax returns
NGO Affairs Bureau (NGOAB)
Regulates foreign-funded NGO project audits and FD-4 certifications
Frequently Asked Questions — Audit & Assurance
Let’s talk about what comes next.
Schedule a confidential initial consultation with Mohammad Sirajus Salekin, FCA (Fellow Chartered Accountant (FCA), Member of ICAB) to discuss your organisation’s statutory requirements or personal tax filing.