Experience of the Firm in Audit Services

Major Works in Last 5 years

Audit in the Financial Institutions

SL Particulars Year

    1. Al Arafah Islami Bank Ltd. 2024
    2. Standard Insurance Limited 2020, 2021, 2022
    3. City General Insurance Limited 2020, 2021, 2022
    4. FAS Finance & Investment Ltd. 2023
    5. EBL NRB Mutual Fund 2022-23, 2021-22, 2020-21
    6. PHP First Mutual Fund 2022-23, 2021-22, 2020-21
    7. AB Bank First Mutual Fund 2022-23, 2021-22, 2020-21
    8. Popular Life First Mutual Fund 2022-23, 2021-22, 2020-21

    Audit in Listed Companies

    SL Particulars Year

    1. Zahintex Industries Limited 2022-23, 2021-22, 2020-21
    2. IDC Bangladesh PLC (old name: Quasem Silk Mills Limited) 2023-24, 2022-23, 2021-22
    3. Ashraf Textile Mills Limited 2021-22, 2020-21, 2019-20
    4. Bashundhara Paper Mills Limited 2023-24, 2022-23
    5. Quasem Textile Mills Ltd. 2020-21, 2019-20
    6. Dhaka Fisheries Ltd. 2022-23, 2020-21
    7. Jago Corporation Ltd. 2022-23, 2021-22, 2020-21
    8. Govt./Autonomous Govt./Semi Bodies
    9. SL Name of Organization Year
    10. Bangladesh Power Development Board, Head Office 2020-21, 2021-22
    11. 2022-23
    12. Chandpur Palli Bidyut Samity-1 2021-22
    13. Dinajpur Palli Bidyut Samity-2 2020-21

    Private Limited Companies (Major PIE Companies only)

    SL Name of Company Year

    1. Fair Technology Limited 2023-24, 2022-23, 2021-22
    2. Labaid Pharmaceuticals Limited 2022-23, 2021-22
    3. Flamingo Fashions Limited 2023-24, 2022-23, 2021-22, 2020-21, 2019-20
    4. Hyopshin Company Limited 2023-24, 2022-23, 2021-22, 2020-21
    5. Jinnat Knitwears Limited 2023-24, 2022-23, 2021-22, 2020-21, 2019-20
    6. S M Spinning Mills Limited 2023-24, 2022-23, 2021-22, 2020-21
    7. Epyllion Holdings Limited 2022-23, 2021-22
    8. M.M. Spinning Mills Ltd. 2023-24, 2022-23, 2021-22, 2020-21
    9. Badar Spinning Mills Limited 2022-23, 2021-22, 2020-21
    10. Colour & Co. Ltd. 2023-24, 2022-23, 2021-22
    11. Garments Manufacturing and Assembling Ltd. 2023-24
    12. Blue Planet Fashionwear Limited 2023-24, 2022-23, 2021-22, 2020-21
    13. Bashundhara Steel & Engineering Limited 2022-23, 2021-22
    14. Sky Capital Airlines Ltd. 2023-24, 2022-23, 2021-22, 2020-21
    15. Blue Planet Knitwear Limited 2023-24, 2022-23, 2021-22, 2020-21
    16. Bangladesh Diesel Plant Limited 2022-23
    17. BRAC Employees Gratuity Fund 2022-23
    18. Fair Electronics Limited 2023-24, 2022-23, 2021-22, 2020-21
    19. FAS Capital Management Limited 2022-23
    20. Maliha Poly Tex Fiber Industry Limited 2022-23
    21. S M Accessories Limited 2022-23, 2021-22, 2020-21
    22. S M Knitwears Limited 2023-24, 2022-23
    23. Bashundhara Fine Paper Mills Limited 2023-24, 2021-22, 2020-21
    24. Bashundhara Readymix & Construction
    25. Industries Limited 2023-24, 2021-22, 2020-21
    26. Bengal Leisure Wear Ltd. 2022-23
    27. Blue Planet Knit Composit Limited 2023-24, 2022-23
    28. Emon Fashion Limited 2023-24
    29. SL Name of Company Year
    30. First Capital Securities Limited 2023-24
    31. Jann Composite Mills Ltd. 2023-24
    32. Next Spaces Limited 2022-23
    33. Novomed 2023-24, 2021-22
    34. TSR Apparels Limited 2022-23
    35. Genuity Systems Limited 2022-23
    36. Trimco (Bangladesh) Company Limited 2023, 2021, 2020
    37. Hamza Textiles Limited 2022-23, 2021-22, 2019-20
    38. A.S.T Knitwear Limited 2021-22, 2020-21
    39. Bengal Hurricane Dyeing and Printing Limited 2021-22, 2020-21
    40. Bashundhara Multi Food Products Limited 2022-23, 2021-22, 2020-21
    41. Arab Fashion Limited 2021-22
    42. Bangla Foils Limited 2021-22, 2020-21
    43. Masuma Khatun Textile Industries Limited 2021-22, 2020-21

    Research Sector

    KMACO has been auditing the books of accounts of National Heart Foundation and Research Institution since its incorporation as of today.

     

    Experience of the Firm in Other Areas

    List of Valuation and/or Verification Works done by the Firm

    Physical Verification of Inventory and/or Fixed Assets

    SL Name of Entity Nature of Work Year

    1. Physical verification of Inventory for Urmi Group Conducting an independent verification of the physical inventory at the end of the financial year 2025
    2. Notional rental valuation of company’s fixed assets for
    3. BATA Shoe Company (Bangladesh) Ltd. Determination of the notional/market rental value for the specific properties as provided by company. 2024
    4. 100% Physical verification of Inventory for
    5. Paxar Bangladesh Limited (Avery Dennison, US fortune 500 company) Conducting an independent verification of the physical inventory including (raw material, WIP, finished goods and spare parts. 2024
    6. SEALS Project – A project implemented by the Ministry of Environment and Forests Carrying out physical verification of fixed assets at each year end and update fixed assets register after introducing the same in very first year. Confirm fixation of Asset tag on each asset item. 2011 to 2015
    7. International Beverages Private Limited (Cocacola) Carrying out physical verification of Cocacola branded coolers at more than 5000 outlets throughout Dhaka Division and prepare the Cooler Register including fixing Asset tag on the Coolers. 2011 to 2015
    8. Emami Bangladesh Limited Carrying out physical verification of all fixed asset items at Head Quarter, Factory and Staff Residences along with updating the Fixed Assets Register in accounting system. 2014
    9. 2017

    Expenditure Verification and Process Validation (Work with Donor Agencies):

    Experience with European Union – Delegation to Bangladesh

    SL Name of organization/funded projects Year

    Accounting Consultancy of SEALS Project under Ministry of Forest and Environment funded by European Union

    Appointed by EU, IP: Ministry of Environment and Forests

    [Financial Management and Internal Control Implementation] 2011 to May 2015

    IP: Palli Karma Sahayak Foundation (PKSF)- Financial audit for the period 1.11.13 to 30.06.16 funded by European Union, Project- Ultra Poor Programme (UPP) Ujjibito

    [Financial Audit] 2013 to 2016

    IP: Action on Disability and Development (ADD)- Financial audit for the period 1.04.13 to 31.03.15 funded by European Union,

    Project- Promoting Social and Political Rights of Persons with Disabilities (PSPR of PwD)

    [Financial Audit] 2013-2015

    IP: Parittran Association- Financial and forensic audit for the period 2013 funded by European Union, Project- PPHRD

    [Financial and Forensic Audit] 2014

    IP: Parittran Association- Financial and forensic audit for the period 2013 funded by European Union, Project- ECCDC

    [Financial and Forensic Audit] 2014

    Expenditure Verification of the Start Up PE for Strengthening Access to Land and Property Rights for All Citizens

    Funded by EU, IP: Ministry of Land

    [Expenditure Verification by Reviewing Procurement Contracts] 2013-2014

    Trade Policy Support programme with Ministry of Commerce Donor: EU

    [Expenditure Verification by Reviewing Procurement Contracts] 2012-2013

    SHARE” Programme with CARITAS and DAM

    IP: CARITAS, DAM, ASOD, IPSHA, VARD, SUROVI, CCDB, Plan Bangladesh

    [Financial and System Audit] 2012-2013

    Nutritional Surveillance Component of Food Security 2006 Funded by EU, IP: Ministry of Planning

    [Expenditure Verification by Reviewing Procurement Contracts] 2011-13

    Building Partnership for better Health, Implemented BRAC University, Funded by: EU

    [Financial and Forensic Audit] 2007-12

     

    SL Name of organization/funded projects Year

    Programme Estimate FOOD SECURITY 2012 (UJJIBITO)

    Funded by EU, IP: LGED

    [Expenditure Verification by Reviewing Procurement Contracts] 2013 -14

    Promote Access to Land in Bangladesh signed between the EU Delegation and NIRAS

    Funded by: EU, IP: NIRAS, Cambodia

    [Financial and Forensic Audit] 2012-14

    Collective Action to reduce Climate Disaster Risks and enhancing Resilience of the Vulnerable Coastal Communities around the Sundarbans in Bangladesh and India”, DCI-ENV/2010/221-426.

    Funded by EU, IP: BCAS and DRCSC, India

    [Financial and System Audit] 2011-14

    14

    ”Strengthening Access to Land and Property Rights for All Sections of the Community” DCIASIE/2012/ 303-358, implemented by Uttaran Association and MJF, Funded by EU

    [Financial and Forensic Audit] 2012-14

    15

    Food Facility Projects (2 Contracts) Global Decision 2009/021494 DCI/ASIE/2014/355-012

    Funded by EU, IP: BRAC NETZ

    [Financial and System Audit] 2014-15

    16 Financial and System Audit of two contracts i. DCI-ASIE/2013/333-072 and ii. DCI-ASIE/2013/333-073. Name of Implementing Partner: Bangladesh Agro-Processors Association (BAPA) Funded by EU

    [Financial and System Audit] 2014-15

    17 Financial Audit of three projects Under Small Initiatives by Local Innovative NGOs (SMILING) Project – Implementing Agencies:

    – BAIC (ASIE/2012/308-940)

    – Jagorani Sangstha (ASIE/2012/309-125)

    – PIPASA (ASIE/2012/309-131)

    – Funded by EU

    [Financial and System Audit] 2013-14

    18

    Financial Audit of ‘Cross-border Transfer of Agricultural, Technologies, Institutional and Market Development’ Project (DCI-FOOD/2011/280-170)

    Name of Implementing Partners:

    – Concern Universal

    – Dhaka Ahsania Mission (DAM)

    – Rashtriya Gramin Vikas Nidhi, India

    – Helvetas Swiss Inter Cooperation (HSI formally known as IC)

    Funded by EU

    [Financial and System Audit] 2012-2015

     

    O. Quality control during audit

    We are committed to maintaining the highest standards of quality in all our services. Our audit management approach ensures that all work delegated to team members is properly directed, supervised, and reviewed according to each individual’s level of competence.

    Delegation and Direction:

    Any delegation of work is carried out in a way that provides reasonable assurance that all tasks will be performed diligently and with the required level of professional skill. Before assigning audit staff to the field, we provide comprehensive training and detailed briefings for all team members. This includes a thorough discussion of the audit program, related checklists, and the specific requirements of each engagement.

    Key steps include:

     Using the audit program as a critical tool for verifying the financial statements of the client.

     Establishing clear time budgets and an overall audit plan to ensure major findings are communicated effectively.

    Supervision:

    Each audit engagement is closely monitored by the engagement partner, who invests sufficient time both in planning and in fieldwork supervision. A Deputy Team Leader — a partially qualified CA course-completed staff member — supports the partner in supervising fieldwork.

    Personnel with supervisory responsibilities will:

     Monitor the progress of the audit assignment to ensure that all team members have the necessary skills and competence to carry out their tasks.

     Confirm that team members fully understand their instructions and responsibilities.

     Ensure that all work is conducted in line with the overall audit plan and program.