Financial Management of BASIC is based on the following basic principles:
Transparency, Accountability, Access
to information by all stakeholders, Inconformity
with the Generally Accepted Accounting Principles, Close
and regular monitoring, Internal
and external audits, Incompliance
with the law of the financial management etc.
All transaction of the organization is maintained through
bank account, which operated, by joint signature of Executive Director and a
Member nominated by the EC. Government approved accounting system is followed
to operate the financial management. Double entry system is followed regarding
maintenance of books of accounts. Accounts of each year is dully be audited by
a certified Chartered Accountant and is placed to the General Body of the
organization for its approval. There is a provision to open separate bank
account for each project as per suggestion of the donor. Monthly financial
statement is prepared on regular basis with its relevant bank reconciliation.
Immediate steps are being taken if any dispute occurs at the branch level.
Internal Audit teams are frequently visits the branch office and keeps close
monitoring on the accounts including micro finance operated at the field level.
management is maintained under the rule of existing finance manual of the
organization. The mother Bank Account of the organization is at her following
Account Name: Bangladesh
Advance Student for Inter-relation Council (BASIC)
Account No. STD: 311 210 20
Pubali Bank Ltd.