Date:27/02/2016

To
Chief Audit Officer
Kazi Farms Group.
Subject: Audit Report on Event Management expenses of Kazi Media Ltd (Deepto TV).
Dear Sir,
We would like to inform you that we have audited the mentioned expenses so far the bills are provided to us. The events
were managed by Ekattur Real Estate Ltd. This company is approved for Real Estate & Construction activities as
per trade license, not for event management. Trade license is not also updated. We haven't find any agreement with that
party.
Bills are checked by accounts personnel (Saiful/Sayem/ Palash), payments are made but no bill is signed by accounts
manager Kazi Salah Uddin.
During our audit we have gone through all relevant papers, books of accounts and discussion with concern person/s.
We have completed our audit and we are presenting this report for your kind information and necessary steps.
Thanking You.
Best Regards.

(A.K.M Golam Sarwar)

Manager-Audit
Kazi Media Ltd (Deepto TV)

Here is a snapshot of audit findings with recommendations:

Sl
#

Findings

Description

Effect

Recommendations

Remark
s

Event: DeeptoLaunching program at Radisson Blu

Fact:
VAT challan not
attached.

Tk.3,40,341/= has been deducted as VAT We are paying

by Radisson Blu hotel. But we haven't VAT but
found any relevant document.
documents are not
collected.

Musok-11 must
be collected from
the service provider
before final
payment.

Fact:
Photocopy bill
submitted without
signature.

A bill of tk.55,200/= has been submitted

from Pixel V Communication for
pen logo print and note padsupply
on a photo copy pad without supplier's
signature. The supplier informed that
they always make bill on original pad
with signature. We have not found any
challan/invoice and MRN.

Possibility to
submit expense
hiked bill.

Must have written Doc

work order /
attached
agreement with the #01
service provider
mentioning specific
terms and
conditions for
expenses and
billing procedure.
Accounts
Doc
department should attached
not receive any bill #02
without proper
documents.

Billed amount: Tk. 31,29,236/=

Fact:
Mamun production manager has
No evidence found received Tk. 54000/= for cake supply
for Cake supply.
from Coopers. We haven't found any
document for this item.

Not possible to
identify the
volume of
expenditure for
this purpose.

Fact:
Bill submitted
without any
supporting.

As there is no
This type of bill
written agreement must be approved
with the service
by COO.
provider so it is
not possible to
determine the
authentication of
this bill.

Event:Meet with the Cable Operator at Emmanuelle's-Banquet Hall

Event management team Ekattur Real

Estate has submitted a bill of
tk.16,000/= for conveyance, Car fuel,
mobile bill, sample & dummies without
any supporting.

Billed amount:Tk.6,67,940/=

Fact:
Agreed rate for invitation card was
Financial loss
Tk.1,140/= has
@tk.25/per piece but bill was made
been billed excess. @tk.28. Total excess amount for 380 pcs
is tk.1,140/=

This amount must

be deducted from
the bill.

Fact: Supplier
Tk.2,000/= has been included in the bill
billed for Labor & for labor and transportation. This is the
Transportation
printer's internal expenses. The event
management team has also billed for
miscellaneous expenses of tk.10,000/=.

Double charge.

This amount must

be deducted from
the bill.

Fact: Bill
submitted on
Photocopy pad
with fake
signature.

A bill has been submitted by event

management team from
Emmanuelle's-Banquet Hall of
tk.4,26,588/= on a photocopy pad and
the authorized signature is fake. Hall
authority informed that they never
provide bill on photocopy pad.

There is a
possibility to
falsification the
bill.

Bill must be
provided in original Doc.
copy with valid
Attache
authorized
d # 03
signature.

Fact:
VAT challan not
attached.

Emmanuelle's-Banquet Hall
authority has billed tk.56,287/= as VAT.
We haven't found any VAT challan for
this.

We are paying
VAT challan must
VAT but
be collected before
documents are not final payment.
collected.

Fact:
Falsified bill
submitted.

Falsified bill has been submitted by

event management team associated by
Noman Rahman, contractual personnel
of distribution department. Marino

Bills falsified.

1. Details audit
required for find
out the fact.
2. Remaining

Sample
Original
pad
attached

Hotel authority informed that they

always provide bill on their original
(colorful) pad in association with
original (colorful) daily bill sheet. They
also confirmed us that the signature
(prepared by) is fake.

payment should be # 04
stopped subject to
details audit
completion.

10 Fact:
Bill submitted
without any
supporting.

Bill submitted of tk.43,100/= for Decor Authentication is

& Multimedia without any supporting. questionable.

Must have to
submit proper
supporting.

11 Fact:
Bill submitted
without proper
supporting.

Bill submitted of tk.8,000/= for Offset The bill is

& Digital print from Signo Graph
questionable.
Ltdwithout any supporting. This bill is
consist of X stand+ X banner+ Print. But
billed all together. They had to purchase
it first then it was printed.

Should have banner

(with X stand)
purchase bill and
then print bill.

12 Fact:
Bill submitted
without any
supporting.

Liquor bill of tk.85,200/= has been

submitted without any supporting.

Must have provide

the supporting.

Event:Press conference at The Daily Star

The bill is
questionable.

Billed amount:Tk.2,43.872/=

13 Fact:
Bill submitted
without any
supporting.

For All designs & Art work of

tk.10,000/= has been billed without any
supporting.

Fact:
Photocopy bill
submitted without
14 signature.

A bill of tk.43,920/= has been submitted Possibility to

from Pixel V Communication for
submit falsified
pen print,file folder, note book
bill.
and leaflets supply on a photo copy
pad without supplier's signature. The
supplier informed that they always make
bill on original pad with signature. We
have not found any challan/invoice and
MRN.

The bill is
questionable.

Must have provide

the supporting.

Must have written Doc.

work order /
Attache
agreement with the d # 05
service provider
mentioning specific
terms and
conditions for
expenses and
billing procedure.

Event: Marketing at The Westin Dhaka

15 VAT challan not

attached.

The Westin Dhaka authority has

billed tk.51,490/= as VAT. We haven't
found any VAT challan for this.

Bill of tk.8,000/=
16 submitted without
supporting.

Tk.6,000/= paid to 12 westin staff which Authentication is

is too much. This is confessed by the
questionable.
event manager. No supporting for
tk.2000/= billed as transportation &
other cost.

Management
should re fix the
cost.

17 Agency
Commission
approved 5%.

In other submitted bills 2.5%

commission paid but in this bill the
commission is 5%.

The commission
rate must be clear
& final.

We are paying
VAT challan must
VAT but
be submitted before
documents are not final payment.
collected.

Financial loss.

General findings:

18 No store entry

Supplied items are not received by store. Quality and

In most supplies invoice/challans are not quantity is
provided. After using the materials are
questionable.
not yet recorded and preserved properly.

For supply items

must have invoice,
gate entry, store
receive & issue etc.

19 Quotation and Cst

are not available.

We haven't find any quotation as well as

comparative statements (Cst).

20 15% VAT not

Gov't compliance not followed.
deducted from
Event management
team.

(A.K.M Golam Sarwar)

Manager-Audit
Kazi Media Ltd (Deepto TV)

So the rates are

not justified.

Violation of
Compliance

Must have collect

at least three
quotations for
every item and then
prepare the Cst and
then approval.
VAT must be
deducted.