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Auditors'
Report
to
The Board of Directors
We have audited the accompanying Balance Sheet of
Grameen Bank as of December 31, 2001 and the related
Profit and Loss Account, Cash Flow Statement and
Notes to the Financial Statements for the year then
ended. The preparation of these financial statements
is the responsibility of the Bank management. Our
responsibility is to express an independent opinion
on these financial statements based on our audit.
We
conducted our audit in accordance with Bangladesh
Standard on Auditing (BSA). Those Standards require
that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements
are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements.
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.
In
our opinion, the financial statements prepared in
accordance with International Accounting Standard
(IAS), give a true and fair view of the state of
the Bank's affairs as on December 31, 2001 and of
the results of its operations and its Cash Flow
for the year then ended and comply with the requirements
of the Grameen Bank Ordinance 1983 and International
Accounting Standards.
We
also report that:
| i) |
we
have obtained all the information and explanations
which to the best of our knowledge and belief
were necessary for the purpose of our audit
and made due verification thereof; |
| ii) |
in
our opinion, proper books of accounts as required
by law have been kept by the bank so far as
it appeared from our examination of those books
and proper returns adequate for the purposes
of our audit have been received from branches
other than 30 branches and 2 zonal office not
visited by us; and |
| iii) |
the
bank's Balance Sheet and Profit and Loss Account
dealt with by the report are in agreement with
the books of account and returns. |
Ahmad
& Ahmad
Chartered Accountants |
Mahfel
Huq & Co.
Chartered Accountants
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Dhaka
July 24, 2002 |
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