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Accounting Practices of NGOs in Bangladesh- A BRAC Observation


Mohsina Akter, Shakoor Ahmed, Syeda Marzana Farha

NGOs play a complementary and pivotal role in the socioeconomic development of a country along with government effort. The wave of the growth of the NGOs globally also has crossed over Bangladesh. This study is concentrated on the accounting procedures of one renowned and largest NGO in the world named BRAC. An overall view of NGO accounting practices in the light of practices of development programs of BRAChas been tried to focus. The regulatory requirement and framework of operation are limited to hold NGOs accountable to the beneficiaries. The requirements of the existing NGO accountability frameworks in Bangladesh are skewed towards the demands of the two influential groups – the donors and the state. At first, the article concentrates on reporting procedures of BRAC other than its commercial project and then the accounting system of regional and head office is reviewed. Finally, the study examines the extent of compliance of Bangladesh Accounting Standards (BAS) by BRAC.

[Keywords: BRAC, NGO, IAS, IFRS, BAS, Financial Statements]