Bidyanondo Foundation

Auditors report and the audited

Receipts and Payments Statement
For the year ended December 31, 2019

Corporate Office
House 14 (Level 4 & 5)
Road- 16A, Gulshan- 1
Chartered Accountants Dhaka- 1212, Bangladesh
Member firm of Grant Thornton International Ltd. T: +880 2 588 15247
 Independent Auditor's Report
to The Chairman of
Bidyanondo Foundation

Opinion
We have audited the Receipts and Payments Statement of Bidyanondo Foundation (hereinafter
referred to as “the Organization”) for the year ended December 31, 2019 and notes to the Receipts
and Payments Statement, including a summary of significant accounting policies (together “the
Financial Statement”).
In our opinion, the accompanying Financial Statement presents fairly, in all material respects, the
receipts and payments of the Organization for the year ended December 31, 2019 in accordance
with the cash basis of accounting (described in Note#2 of the receipts and payments statement).

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (ISAs). Our
responsibilities under those standards are further described in the Auditor's Responsibilities for the
Audit of the Financial Statement section of our report. We are independent of the Organization in
accordance with the International Ethics Standards Board for Accountants’ Code of Ethics for
Professional Accountants (IESBA Code), and we have fulfilled our other ethical responsibilities in
accordance with the IESBA Code and the Institute of Chartered Accountants of Bangladesh
(ICAB) Bye-Laws. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our opinion.

Emphasis of Matters and restriction on the distribution

Without qualifying our opinion, we draw attention to the following matter:
In Note#2 to the Financial Statement, management of Bidyanondo Foundation describes the basis
under which the said statement has been prepared.
This audit report has been prepared for the purpose of the management of Bidyanondo
Foundation. As a result, the audit report and the audited Financial Statement may not be suitable
for another purpose.
Responsibilities of Management and Those Charged with Governance for the Financial
Statement
Management is responsible for the preparation and fair presentation of the Financial Statement in
accordance with the receipts and payments basis of accounting described in Note#2; this includes
determining that the cash basis of accounting is an acceptable basis for the preparation of the
financial statement in the circumstances, and for such internal control as management determines
is necessary to enable the preparation of a receipts and payments statement that is free from
material misstatement, whether due to fraud or error.

Auditor’s Responsibilities for the Audit of the Financial Statement

Our objectives are to obtain reasonable assurance about whether the Financial Statement as a
whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s
report that includes our opinion. Reasonable assurance is a high level of assurance, is not a
guarantee that an audit conducted in accordance with ISAs will always detect a material
misstatement when it exists. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of this Financial Statement.
As part of an audit in accordance with ISAs, we exercise professional judgment and maintain
professional skepticism throughout the audit. We also:

• Identified and assessed the risks of material misstatement of the Financial Statement,
whether due to fraud or error, designed and performed audit procedures responsive to
those risks, and obtained audit evidence that is sufficient and appropriate to provide a basis
for our opinion. The risk of not detecting a material misstatement resulting from fraud is
higher than for one resulting from error, as fraud may involve collusion, forgery,
intentional omissions, misrepresentations, or the override of internal control.
• Obtained an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances.
• Evaluated the appropriateness of accounting policies used and related disclosures made by
management.
• Evaluated the overall presentation, structure and content of the Financial Statement,
including the disclosures, and whether the Financial Statement represent the underlying
transactions and events in a manner that achieves fair presentation.
We communicated with those charged with governance regarding, among other matters, the
planned scope and timing of the audit and significant audit findings, including any significant
deficiencies in internal control that we identify during our audit.

Dated: June 29, 2020 Chartered Accountants

Dhaka
 Bidyanondo Foundation
Receipts & Payments Statement
For the year ended 31 December 2019

Amount in Taka

For the 12 For the 18

month period month period
Particulars Note from 01 January from 01 July 2017
to 31 December to 31 December
2019 2018

Opening Balance of Cash and Cash

5 1,905,362 1,220,715
Equivalents (A)
Receipts: (B)
Donation received 6 60,977,651 61,028,733
Miscellaneous receipts 7 1,230,629 1,788,209
Total Receipts 62,208,280 62,816,942
Total (A+B) 64,113,642 64,037,657

Payments:
1Tk. Meal/Fooding 8 23,071,167 28,594,878
1Tk. Legal 9 7,535 3,250
1Tk. Treatment 10 438,207 856,615
Educational programs 11 1,158,181 3,141,543
Clothing for charity 12 2,470,684 1,768,460
Other charitable expenses 13 275,369 1,362,819
Bank charges 14 138,663 256,390
Cleaning 15 182,572 72,778
Rent advance for school,
299,930
library, office & garments 16 2,519,274
Consultancy 17 304,942 35,000
Audit fee 18 129,200 44,000

Honorarium to teachers, 6,563,663

staff salary and labor costs 19 7,672,729
Repairs & maintenance 20 714,710 141,799
Small tools & equipment 21 206,657 605,158
Stationary, printing, postage & delivery 22 1,438,889 2,134,468
Phone & Internet 23 151,927 166,585
Travel and food transportation 24 2,761,940 1,610,063
Utilities 25 2,253,399 1,631,039
Other admin expenses 26 183,511 236,649
Property, plant, & equipment 3 11,153,001 9,176,892
Publications 27 181,466 103,547
Awareness documentary 28 300,000 -
Refugee & Migration 29 7,760,037 -
Total Payments [C] 62,145,650 62,133,936

Cash and Cash Equivalents (D) 4 1,967,992 1,903,721

Total (C+D) 64,113,642 64,037,657

The annexed notes from an integral part of this Financial Statement

Finance Executive Finance Secretary Chairman

Dated: June 29, 2020

Dhaka Chartered Accountants