Auditing: present & prospects

Abstract

The report titled ―Auditing: Present & Prospects‖ is the outcome of 12 weeks of internship program of BRAC Business School to qualify under-graduation. The program has helped to apply theoretical knowledge in the real life business exposure. This report will take you to the insights that been learned by concentrating on the details how ACNABIN Chartered Accountants practices auditing. ACNABIN Chartered Accountants- an independent member of Baker Tilly International debuted me to the real professional world. ACNABIN has close tie with different national as well as international consulting firms for providing quality services. ACNABIN enriched with multitalented as well as professional articled students and a dedicated workforce comprised of Chartered Accountants is serving to provide a world-class solution to its dignified clients. However, on my term with ACNABIN, I was posted in International Centre for Diarrhoeal Disease Research, Bangladesh (ICDDRB) an international health research organization located in Dhaka as an ―Audit Interne‖ with a view to ―Office of Management & Budget‖-OMB Audit for the year ended 2017. Moreover, in different parts of this report, concerned stake holders can expect to get an insight of Auditing, how ACNABIN approaches to OMB Audit (A special kind of audit required due to US government rules and regulations by following CFR-Code of Federal Regulation & Compliance Supplement), and future of audit and so on. In the first part we will have a glimpse of introduction and description of the project. In second part, I wrote about ACNABIN Chartered Accountants itself. On third part, we will look how audit is conducted in Bangladesh as well as how ACNABIN approaches audit on part four. The fifth part will lead you to what I learned and how I bridge my learning with work. The sixth part will talk about ICDDRB and why their auditing is special. I will also talk about the future of auditing in the seventh part. However, during this whole process, I tried to figure out some situations and have posted some recommendations having a professional discussion with my supervisor on eighth part. And at the 9th and last point I summed up with an overall view.