Audit procedure of verification of alternative cash assistance of ACNABIN chartered accountants

Abstract

This report titled “Audit Procedure of verification of Alternative Cash assistance of ACNABIN Chartered Accountants” is an outcome of BBA internship program. Such programs facilitate us to apply our understanding of the theoretical knowledge in the practical field. This report contains the details of the audit practice followed by ACNABIN Chartered Accountants for the incentive purpose given by Bangladesh Government to the exporters. ACNABIN has a good working relationship with many international and national consulting firms for providing services to clients in Bangladesh. ACNABIN has been ranked number one Audit firm in the country for audit of banks and financial institutions by the Central Bank of Bangladesh (Bangladesh Bank) in November 2010. United States Office of Regional Inspector General/Audit, Singapore, approved ACNABIN to perform financial audits of USAID fund recipients in Bangladesh in November 2010. In these twelve weeks internship program, I worked in the Cash Incentive Audit department of the firm where my key responsibility was to verify Alternative Cash Assistance files and prepare related working paper files. Therefore, the main point of this study is mainly concerned with the knowledge that I gained working in this department that is gathered from my trainings and personal experiences. In this report, introductory part consists of an introduction, objectives, scope, limitations and methodology of the study. The secondary part of this report discussed about ACNABIN. In the third part I have discussed the audit procedures of ACNABIN in details. In the following part I have discussed about the procedure of verifying the cash incentive files, terms and condition of Bangladesh bank, saving of Bangladesh bank as well. Later on, I have included a case study.