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Thursday, August 28, 2014, Bhadra 13, 1421, Zilqad 1, 1435 Hijr

AL audit report yet to be ready Income crosses expenditure
Staff Correspondent
Publish Date : 2014-08-28,  Publish Time : 00:00,  View Count : 11
Although only 4 days are left to place the 2013 financial statement to the Election Commission, the ruling Awami League (AL) is yet to get it ready.
August 31 is the deadline for submission of the report.
AL insiders say the party will get the report on its yearly income and expenditure today (Thursday) from SM Zakaria & Co, a  chartered accountant firm who was assigned to audit, for the party President's perusal. On receipt of Sheikh Hasina's nod, a party delegation will go to the EC to submit the audit report. Despite AL's appeal for allowing a time extension up to September 1, the EC did not agreed.
Earlier, the EC extended such time from July 31 to the last day of the current month after the party sought more time to submit the report.
Meanwhile, in a party meeting on Tuesday at the AL chief's political office at Dhanmondi in the city with the audit firm, the leaders gave directives for last minute corrections to complete the statement within the timeframe. Prime Minister Sheikh Hasina's Political Adviser H T Imam, Presidium Member Nuh-Ul-Alam Lenin, AL Treasurer H N Ashiqur Rahman and Office Secretary Dr Abdus Sobhan Gplap were present.
"The financial statement is nearing completion. We hope to place it very shortly before our party chief for her approval," H N Ashiqur Rahman told the Daily Observer.
"The report will be finalised any day," Abdus Sobhan Golap said, expecting a timely submission.
Fees from the members of executive council, national committee, advisory council and parliamentary board, sales from coupon, party newsletter, magazine, promotional booklets, interests on bank deposits and various other fees will be shown as their main sources of income, party insiders said.
Expenses include wages, administrative costs, electricity, water, gas and other utility bills, phone bills, rallies, processions, indoor meetings, electoral expenses including campaign materials cost, office development fees etc.
Bangladesh Nationalist Party (BNP) and Jatiya Party (JP) have already submitted their audit reports to the EC on August 14 and August 25 respectively.
The BNP report shows its expenditures on different party activities in 2013 were three times its income in the year. Another opposition party, Jamaat-e-Islami, has been left out of the EC's list of registered political parties since the High Court's declaration of the party's registration illegal on August 1, 2013.
According to the Political Parties Registration Rules 2008, a party has to get its total transactions in a calendar year audited by a chartered accountant firm. Besides, a copy of the firm's report to the EC should be submitted by July 31 of the following year.
According to the Representation of the People Order (Article 90 H (1) C), the registration of a political party would face   cancellation in case the party fails to provide the financial report to the EC for three consecutive years.

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