It gives me pleasure to place this annual report of Human Development Organization of year 2019 in your hands. The Annual Report has endeavored to provide an opportunity into what our organization has accomplished in the year
Standard Accounting Principal
The Organization has two control systems, external control by the owner of the organization and Internal Control by the management. At the end of each financial year, an external audit of the organization's projects and financial transaction is conducted. An independent firm of chartered accountants conducts such an audit. As regards internal control systems, its main objective is to safeguard the assets of the organization, ensure reliability of the accounts and achieve operational efficiency and effectiveness of the organization. The organization is expected to build up a control environment with these key fundamentals, Honesty, Ethical and principled morals, Ensuring that staff, at all levels, is competent to carry out the duties assigned to them. Hence, it is imperative that employees adhere to standards of personal integrity and set a good example to their subordinates. The other key elements of the control environment are the communication of information and monitoring. Pertinent information must be communicated within the organization so that well-informed personnel may make well-informed decisions. Monitoring requires not only formal procedures such as internal audit, but cultivation of a culture of recommendation for improvement to existing systems and procedures.
The Organization has two control systems, external control by the owner of the organization and Internal Control by the management. At the end of each financial year, an external audit of the organization's projects and financial transaction is conducted. An independent firm of chartered accountants conducts such an audit.
we have audited the annexed balance sheet of Human Development Organization for upto 31 December 2020