NASIR GROUP OF INDUSTRIES LTD.

(HEAD OFFICE)
Internal Audit
For 03 (Three) Months from 01 October 2019 to 31 December 2019
Details Observation of Head Office Level Related to BFIL

1. Money receipt was not found. Instances are as follows:

Vr. No Vr. Date Vr. Amount Vr. Types Particulars Purpose

2019/10-164 29.10.19 230,400 Journal Tara Corporation Party Payment
(BFIL)
2019/10-167 29.10.19 17,115 Journal Ali Enterprise Party Payment
(BFIL)
2019/10-168 29.10.19 383,000 Journal Hossain Enterprise Party Payment
(BFIL) (Lalbagh)
2019/10-171 17.10.19 175,000 Journal Earnest Engineering Party Payments
(BFIL) Works (PVT) Ltd

2. Money receipt was found but revenue stamp or signature was not attached. Instances are as follows:

Vr. No Vr. Date Vr. Amount Vr. Types Particulars Purpose

2019/10-43 27.10.19 15,480 JV(BFIL) Maliha Electric Co Party payment
(No Sign from
both parties)
2019/10-01 03.10.19 109,862 PV(BFIL) Misc. Expenses No Stamp.
(HO) & Rangpur
Metal Industries Ltd
2019/10-05 15.10.19 128,136 PV(BFIL) Rahat Electric No Stamp.

3. Supporting was not matched with voucher top sheet narration. Instances are as follows:

Vr. No Vr. Vr. Bill Vr. Particulars Supporting Vr. Top

Date Amount Amount Types sheet
2019/10-23 27.10.19 5,000,000 5,000,000 JV Misc Business Speed Money
(BFIL) Expenses Developmen
For Tax t
2019/10-26 17.10.19 4,277,674 4,277,674 JV L/C Other Business Godown
(BFIL) Exp. Promotion Rent.Examin
Purpose e Extra Labor
,Miscellaneou
s,Truck
Demurrage &
Accidental
Expenses.

4. Paid seal as well as information on paid seal were not found in the bill. Instance are as follows:

Vr. No Vr. Date Vr. Amount Vr. Types Particulars Paid seal missing
(bill no.)
2019/10-164 29.10.19 230,400 JV (BFIL) Tara Bill No: 850

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Internal Audit Report of Nasir Group of Industries Limited
For 03 (three) months from 01 October to 31 December 2019 1
 Corporation

5. Proper supporting was not found. Details are as follows:

Vr. No Vr. Date Vr. Amount Vr. Types Particulars Supporting

Documents
2019/10-08 21.10.19 56,335 CNG Fuel Daily Token
JV/BFIL
Needed
2019/10-30 26.10.19 23,892,893 JV/BFIL Loan & Interest No supporting.
2019/10-136 31.10.19 5,192,776 Provision for
JV/BFIL No supporting.
Expenses
2019/10-137 31.10.19 129,317.17 Insurance
JV/BFIL No supporting.
Premium
2019/10-145 26.10.19 20,300 Gulf BD Enterprise Port Bill Copy
JV/BFIL
needed.
2019/10-178 31.10.19 7,300,000 NPPIL-C/A Fund transfer
JV/BFIL
reason needed
2019/10-179 09.10.19 2,016,297 Upass LC Proper documents
JV/BFIL
not found.
2019/10-180 31.10.19 272,479.99 JV/BFIL Vat Current A/C No Supporting
2019/10-181 31.10.19 31,540 TT Charge & TT basis
JV/BFIL
Other supporting

6. Some purchases were made more than requisition. Instances are as follows:
7.

Voucher Voucher Concern Requisition Purchased Voucher

Date Name of Item
No. Type Name Quantity Quantity Amount
Nylon 2ply
Thread
2019/10-36 17.10.19 JV BFIL 2000 Pcs 2560 Pcs Chocolate & 153,600
Chocolate
Light
2019/10-45 27.10.19 JV BFIL 25 Kg 50 Kg K-100 White 15,000

7. Bill/Invoice copy missing from voucher. Instance are as follows:

Voucher No Voucher Date Voucher Type Concern Name Amount

2019/10-149 31.10.19 JV BFIL 43,930

8. Company name not found or mentioned in the bill or cheque. Instance are as follows:

Voucher No Voucher Date Voucher Concern Amount Bill or Cheque

Type Name
2019/10-128 15.10.19 JV BFIL 20,000 Cheque

9. Customer or buyer signature was not exist in the bill. Instance are as follows:

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Internal Audit Report of Nasir Group of Industries Limited
For 03 (three) months from 01 October to 31 December 2019 2
 Voucher No Voucher Voucher Concern Amount Party Name Items
Date Type Name
2019/10-63 28.10.19 PJV BFIL 50,518 Manikgonj Printing &
Paper & Stationery
Stationary

10. Driver/Delivery Man/ Receiver’s/ signature was not found in delivery chalan:
Voucher No Voucher Date Voucher Type Concern Name Amount
2019/10-144 31.10.19 JV BFIL 5,830,151.85

11. Particulars name mentioned wrong in voucher:

Voucher Voucher Voucher Concern Amount Voucher Correction

No Date Type Name
2019/10-12 30.10.19 PV BFIL 1,020 Misc. Expenses L/C Related Cost

12. Some Bill item was not found in requisition:

Voucher Voucher Voucher Concern Voucher Party Name Item name
No Date Type Name Amount
2019/10-43 27.10.19 JV BFIL 15,480 Maliha Capacitor 3.5 24
Electric Co Pcs

13. Purchase item and unit did not match with requisition and comparative statement:

Voucher Voucher Voucher Concern Voucher Party Name Requisiti Bill Item &
No Date Type Name Amount on Item Unit
& unit
2019/10- 31.10.19 JV BFIL 280,800 MJL Pcs Drum
48 Bangladesh
Ltd.

14. Bill not found in voucher:

Voucher No Voucher Voucher Concern Voucher Party Name

Date Type Name Amount
2019/10-01 03.10.19 JV BFIL 173,732 Tours & Travels
(H.O)

15. Some Vouchers are not understandable:

Voucher No Voucher Voucher Concern Voucher Party Name

Date Type Name Amount
2019/10-129 20.10.19 JV BFIL 1,526,042 Provision for gas bill
2019/10-143 31.10.19 JV BFIL 949,518 Deferred Revenue
2019/10-146 31.10.19 JV BFIL 1,436,737 Various Exp-MKT
2019/10-147 31.10.19 JV BFIL 3,106,538 Expense Provision
2019/10-148 31.10.19 JV BFIL 193,381 Various Exp-MKT

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Internal Audit Report of Nasir Group of Industries Limited
For 03 (three) months from 01 October to 31 December 2019 3
 2019/10-154 15.10.19 JV BFIL 671,691 Salary & Allowance
Allocation

16. Voucher was made before cheque issue:

Voucher Voucher Voucher Concern Voucher Party Name Voucher Cheque
No Date Type Name Amount Date Date
2019/10- 03.10.19 JV BFIL 344,100 V.M 03.10.19 23.10.19
02 International
Ltd (My Tv)

17. Difference found between Voucher Narration and supporting:

Voucher Voucher Voucher Concern Voucher Party Name Voucher Supporting

No Date Type Name Amount Narration
2019/10- 03.10.19 JV BFIL 344,100 V.M Cheque Cheque
02 International Dishonor Canceled
Ltd (My Tv)

18. Cheque Cancel Journal was not given and another cheque was issued in favor of the party:

Voucher Voucher Voucher Concern Voucher Party Name Cancel Cheque

No Date Type Name Amount Cheque reissued
Date date
2019/10- 03.10.19 JV BFIL 344,100 V.M 03.10.19 23.10.19
02 International Bank Asia Dhaka Bank
Ltd (My Tv)

19. Multiple Mrr was Created against one Bill and mrr has time gap of one month:

Vouche Vouche Vouche Concer Voucher Party Num 1st 2nd 3rd
r No r Date r Type n Name Amount Name ber Mrr Mrr Mrr
of Date Date Date
Mrr
2019/10- 06.10.19 JV BFIL 56,650 M.S 2 06.08 12.09. X
12 Internat .19 19
ional
2019/10- 13.10.19 JV BFIL 28,625 Manikg 2 28.08 05.09. X
33 onj .19 19
Paper &
Station
ary
2019/10- 27.10.19 JV BFIL 44,550 Tania 3 19.09 22.09. 24.09.
41 Enterpri .19 19 19
se
2019/10- 27.10.19 JV BFIL 722,773 Hossain 5 26.07 03.08. 09,19
44 Enterpri .19 19 &25.08
se .19

20. Vat & Tax not deducted:

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Internal Audit Report of Nasir Group of Industries Limited
For 03 (three) months from 01 October to 31 December 2019 4
 Voucher No Voucher Voucher Concern Voucher Party Name
Date Type Name Amount
2019/10-22 14.08.19 JV BFIL 1,000,000 Tax Assesment
(Associate Exp)

21. Md’s Signature did not match in supporting:

Voucher No Voucher Voucher Concern Voucher Party Name

Date Type Name Amount
2019/10-26 17.10.19 JV BFIL 4,277,674 4,277,674

22. Comparative Statement was not updated for 6 Months:

Voucher Voucher Voucher Concern Voucher Party Name Bill Date Comparativ
No Date Type Name Amount e
Statement
Date
2019/10- 13.10.19 JV BFIL 42375 Bismillah 31.08.19 08.01.19
32 Gloves
Industry

23. Mrr was prepared before Bill:

Voucher Voucher Voucher Concern Voucher Party Mrr Date Bill Date
No Date Type Name Amount Name
2019/10- 13.10.19 JV BFIL 28,625 Manikgonj 26.08.19 04.09.19
33 Paper &
Stationary
2019/10- 27.10.19 JV BFIL 44,550 Tania 19.09.19 21.09.19
41 Enterprise
2019/10- 27.10.19 JV BFIL 117,721 Riyad 05.09.19 15.09.19
47 Enterprise

24. Comparative statement was prepared after Bill:

Voucher Voucher Voucher Conce Voucher Party Item Compar Bill Date
No Date Type rn Amount Name Name ative
Name Stateme
nt Date
2019/10-35 17.10.19 JV BFIL 24,050
Sonam Safety 25.09.19 12.09.19
Enterprise Shoe
25. Comparative Statement prepared method was found wrong:

Vouche Vouche Vouch Concer Vouche Party Item Comparati Correction

r No r Date er n Name r Name Name ve Needed
Type Amount Statemen
t as per
Voucher
2019/10- 17.10.19 JV BFIL 24,050 Sonam Safety Prepared Need to

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Internal Audit Report of Nasir Group of Industries Limited
For 03 (three) months from 01 October to 31 December 2019 5
 35 Enterpris Shoe by using prepare by
e different using same
party and brand with
different different
brand. parties

26. Actual Money Receipt was not used in the voucher:

Voucher Voucher Vouch Concern Voucher Party Item Name Problem

No Date er Name Amount Name
Type
2019/10- 17.10.19 JV BFIL 54,000 B.D. Gum Tape Delivery
38 Plastic Challan was
used as
money receipt

27. Product details was not found in requisition:

Voucher No Voucher Date Voucher Concern Voucher Party Name

Type Name Amount
2019/10-49 30.10.19 JV BFIL 208,040 C.B. Trading
House

28. Bank account no did not match with voucher top sheet and cheque:

Voucher Vouche Vouche Concer Voucher Party As per As per

No r Date r Type n Name Amount Name Voucher Cheque
2019/10- 06.10.19 JV BFIL 4,550,000 National #6733015403 1067001667216
53 Bank

29. From which company money will give not directed by approved authority:

Voucher No Voucher Voucher Concern Voucher Party Name

Date Type Name Amount
2019/10-68 29.10.19 JV BFIL 2,100,000 Factory C/A

30. Loan company name not mentioned by approved authority:

Voucher No Voucher Voucher Concern Voucher Party Name

Date Type Name Amount
2019/10-69 14.10.19 JV BFIL 900,000 Factory C/A

31. Cost allocation ratio was not mention in the voucher:

Voucher No Voucher Date Voucher Type Concern Name Voucher Party Name
Amount
2019/10-127 07.10.19 JV BFIL 124,595 Line Expense

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Internal Audit Report of Nasir Group of Industries Limited
For 03 (three) months from 01 October to 31 December 2019 6
 32. Total car sale amount not received, Acc. Dep not charge. Accounting entry not clear:

Voucher No Voucher Voucher Concern Voucher Party Name

Date Type Name Amount
2019/10-132 27.10.19 JV BFIL 385,000 Other income -
Vehicle

33. Price Quotation was not approved:

Voucher No Voucher Voucher Concern Voucher Party Name

Date Type Name Amount
2019/10-133 15.10.19 JV BFIL 175,693.20 Meghna Petrolium
Limited

34. The Identification of one sister concern gave payment to other sister concern is not fully clear:

Voucher Voucher Voucher Concern Voucher Party Name Purposes

No Date Type Name Amount
2019/10- 08.10.19 JV BFIL 43,0000 Intertrade C&F Bill
134 Management
Services Ltd
2019/10- 31.10.19 JV BFIL 3,805 Mobile Bill Mobile Bill Of
139 H.O & Fact.
Employee.
2019/10- 26.10.19 JV BFIL 20,300 Gulf BD C&F Bill
145 Enterprise
2019/10- 24.10.19 JV BFIL 2,500 M/S. JIME Sample
155 ENTERPRISE Purposes

35. Supporting is not appropriate:

Voucher No Voucher Voucher Concern Voucher Party Name

Date Type Name Amount
2019/10-138 20.10.19 JV BFIL 9,310.16 L/C Insurance
Premium
2019/10-158 22.10.19 JV BFIL 789,094 L/C Other Exp. &
Pur Local

36. Interest rate calculation needed with loan approval copy:

Voucher No Voucher Voucher Concern Voucher Party Name

Date Type Name Amount
2019/10-140 16.10.19 JV BFIL 1,131,284.62 Interest on C.C
2019/10-141 31.10.19 JV BFIL 438,983 Provision UPASS LC

37. No Depreciation Policy found:

Voucher No Voucher Voucher Concern Voucher Party Name

Date Type Name Amount
2019/10-142 31.10.19 JV BFIL 562,037 Accumulated

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Internal Audit Report of Nasir Group of Industries Limited
For 03 (three) months from 01 October to 31 December 2019 7
 Depreciation-(Plant
& Machinery)

38. Sample item receiver not found:

Voucher No Voucher Date Voucher Concern Voucher Party Name

Type Name Amount
2019/10-155 24.10.19 JV BFIL 2,500 M/S. JIME
ENTERPRISE

39. The segregation amount is not clear:

Voucher No Voucher Voucher Concern Voucher Party Name

Date Type Name Amount
2019/10-157 09.10.19 JV BFIL 70,653 Security Salary &
Allowance (Fact)

40. Difference found between Mrr value and Bill Value:

Voucher Vouche Vouche Concer Voucher Party Mrr Value Bill Value
No r Date r Type n Name Amount Name
2019/10- 29.10.19 JV BFIL 28,000 Taqua Boiler 28,000 2,800
165 House

41. Purchase signature date did not match with Bill date:

Voucher Voucher Voucher Concern Voucher Party Bill Date Purchase

No Date Type Name Amount Name signature
Date
2019/10- 29.10.19 JV BFIL 440,336 Safi Knitting 12.09.19 14.09.19
169 (Bill:312)

42. Cancel Or Dishonor seal & reason of cancel or dishonor was not found in the cheque or Voucher:

Voucher Voucher Voucher Concern Voucher Party Name Cheque No Dishonor or

No Date Type Name Amount Cancel
Reason
2019/1 29.10.1 JV BFIL 2,100,00 NPPIL-C/A 1814730 Not Given
0-174 9 0

43. Cash payment for purchase big amount:

Voucher Voucher Voucher Concern Voucher Party Name Item Name

No Date Type Name Amount
2019/10-10 28.10.19 PV BFIL 297,760 Aysha Traders Samai Cloth
2019/10-13 31.10.19 Pv BFIL 393,600 Aysha Traders Samai Cloth

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Internal Audit Report of Nasir Group of Industries Limited
For 03 (three) months from 01 October to 31 December 2019 8