AUDITOR'S REPORT Audit Completion Date: 27-10-2019. Secretary Ministry of Finance,internal Resource Division Bangladesh Secretariat, Dhaka. We have audited the accompanying Financial Statement (FY 2018-2019) of the "Bangladesh Regional Connectivity Project: National Single Window inplementation and Strengthening Custots Modernization" financed by IDA Credit No 6002-BD as of June- 2019 and for the years then ended, According to ISSAI 1570 the preparation of Financial Statement is the responsibility of management, Our responsibility is to express an opinion on the financial statement based on our audit, We conducted our audit in accordance with International Standards on Auditing. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement is free of material misstatement. An audit includes examining on a test basis, evidence supporting the amounts and disclosures in the financial statement. An audit also includes assessing the accounting principles used and significant estimates made by management as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. Except as stated in the preceding paragraph, the financial statement gives a fair view, in all material respects of the financial position the "Bangladesh Regional Connectivity Project: National Single Window Implementation and Strengthening Cusionis Modernization financed by IDA Credit No 6002-BD as on 30th June 2019 and the results of its operations and cash flows for the year then ended in accordance with the cash basis of accounting followed by the Government of Bangladesh. Opinion Status: Unqualified, (Md. Tafazzal Hossain) Deputy Director For Director General Foreign Aided Projects Audit Directorate Phone; 88-02-8391547 9 Bangladesh Regional Connectivity Project 1 National Single Window Implementation & Strengthing Customs Modernization IDA Credit Number 6002-BD Project Financial Statement 30 June 2019 Figure in lac GOB Economic Cumulative Cumulative Current Particulars Notes Current Period Code ____ Prior Period Period Government of Bangladesh 1 - 588.07 588.07 Loan from Development Partner 2 - 1,086.00 1,086.00 Other resources 3 - Cash and Bank opening balance 5 - - Total Resources - 1,674.07 1,674.07 Expenditure and Cash: Hairing Vehicle 3211107 - 35.75 35.75 Electricity 3211113 0.87 0.87 Water 3211115 0.14 0.14 Advertising Expenses 3211125 - 8.13 8.13 Office Rent 3211129 - 101.02 101.02 Bank Charge 3221108 0.01 0.01 Petrol, Oil & Lubricant 3243101 - 1.60 1.60 Gas & Fuel 3243102 - 0.46 0.46 Computer Consumables 3255101 - 2.68 2.68 Printing & Binding 3255102 - 5.69 5.69 Other Stationary 3255105 - 15.29 15.29 Consultancy 3257101 - 47.26 47.26 Honorarium/remuneration 3257206 - 3.55 3.55 Motor Vehicle 4112101 179.68 179.68 Computers and accessories 4112202 114.33 114.33 Electric Equipment 4112303 16.32 16.32 Furniture 4112314 - 138.30 138.30 Total Expenditure - 671.08 671.08 Cash and Bank closing balance 5 - 1,002.99 1,002.99 Total Expenditure and Cash _ 1,674.07 1,674.07 Md. Hedaitul islan Financial Management Specialist National Single Window Project National Board of Reven. 1011(oder Muhammad Amir Rall Project Director National Single Window Project National Board of Revenue, Dhaka Bangladesh Regional Connectivity Project I : National Single Window Implementation & Strengthing Customs Modernization IDA Credit Number 6002-BD Notes to Project Financial Statement As on 30th June 2019 (BDT in lac) 1 GOVERNMENT OF BANGLADESH Funds are allocated by the Government of Bangladesh (GoB) to cover GoB's share of eligible project expenditure, as specified in the Project Proforma and in the Annual Development Program. Contribution to the project by the GoB is as under: inception to 30th June For the year 2018-19 Cumulative 2018 Current Period Disbursement by GoB _ 72300 723.00 Less: Refund __134.93 :134.93 Total BDT 588.07 588,07 2 LOAN FROM DEVELOPMENT PRTNER (IDA Credit No 6002-BD) The World Bank/IDA has agreed to provide funds to the Project to cover its share of eligible project expenditure in accordance with the Financing Agreement dated December 07, 2017. Cumulative Prior Current Period Cumulative Period Current Period Initial Deposit (Advance) 1,086.00 1,086.00 DPA (Direct Payment) _ RPA (SoE Procedure) RPA (Non SoE Procedure) Others- Total BDT - 1,086.00 1,086.00 3 OTHER RESOURCES Cumulative Prior Current Period Cumulative Period Current Period Schedule & Tender Forms sale Security Deposit/Adjustment Total 4 INTEREST ON RPA Bank Account Cumulative Prior Current Period Cumulative dPeriod CUrrent Period Gross interest credited by Sonali Bank Ltd, Segun Bagicha Branch, Dhaka on RPA (STD) Tax at source debited by the Bank 126,436.00 126,436.00 Interest deposited to BB 716,472.00 716,472.00 5 CASH and BANK Balances Cumulative Prior Current Period Cumulative PeriodCurrentt_Period Period _CagntP rio Cash in hand Operating Account RPA (Sonali Bank, Account No: 4432103000022) L Total 1,002,99 .,002.99 1\/cl. He,clEdt(a l 12alarn Projecl oirector Ficial Mngemevnta scin National Singlo Window ProjeA "73ngl e Yhi;o N ',ational Board Of lZVR n1fne, bilahil AUDIT OPINION ON SOE We have audited the statement of expenditure (SOE) of the " Bangladesh Regional Connectivity Project: National Single Window Implementation and Strengthening Customs Modernization. loan no- IDA Credit No 6002-BD June, 2019 submitted to the IDA for re- imbursement of expenditure in accordance with the IDA loan no-Credit No 6002-BD july, 2017. The audit was conducted following international standards on auditing which includes tests of the accounting records and supporting documentation. In our opinion, the presentation and submission of claim to IDA authority on the basis of expenditure statement (SOE) was valid and can be relied upon by IDA (Md. Tafazzal Hossain) Deputy Director For Director General Foreign Aided Projects Audit Directorate Phone: 88-02-8391547 22 AUDITOR'S REPORT ON IMPREST ACCOUNT 1. We have audited the Special Account (Imprest Account-CD-A/C-no-4432102000612 with Sonali Bank Limited Segun Bagicha Branch ) Statement of the " Bangladesh Regional Connectivity Project :- National Single Window Implementation and Strengthening Customs Modernization, loan no- IDA Credit No 6002-BD July, 201 2. The accompanying Imprest Account Statement was prepared on the basis of cash deposits and withdrawals for the purpose of complying with above loan covenant. 3. In our opinion the receipts are properly accounted for and withdrawals are made for the purpose of the project in accordance with the loan agreement and above imprest account statement give a fair view of the beginning and ending balance and the account activity for the year 30"' June, 2019 on the basis of cash deposits and withdrawals. (MD.Tafazzal Hossain ) Deputy Director For Director General Foreign Aided Projects Audit Directorate Phone: 88-02-8391547 29