Cash and Bank Working Papers New

Rahman Sarfaraz Rahim Iqbal Rafiq
Chartered Accountants
Client: Isra Islamic Foundation Prepared by:

Period: June 30, 2019 Date:
Subject: Cash & Bank W.P Ref:
Description W.P. Ref. June 30, 2019
Balance as at
Audit Programme Ref. _____________________________
Conclusion: Based on audit work performed we are satisfied that above figure (s) do not contain
any significant misstatement (s). Exceptions, if any, have been
noted.
Date
Job Incharge
Manager
Partner
Plot No. 180, Block -A, S. M. C. H. S., Karachi-74400, PAKISTAN, Tel No. : (021) 34549345-9
Ghafeer Ahmed Khan
June 30, 2018
610,036,472
Signature
: (021) 34549345-9
Client: Isra Islamic Foundation Prepared by: Ghafeer Ahmed Khan

Description W.P. Ref. June 30, 2019 June 30, 2018
Cash in Hand -
Cash in Bank 352,747,536 610,036,472
352,747,536 610,036,472
Client: Isra Islamic Foundation Gurantee Limited Prepared by: Hamza Shahnawaz
Description W.P. Ref. June 30, 2018 June 30, 2017
Cash at Bank:
Foundation 510,061,512 402,916,128

Hospital 2,132,983 12,643,055
University 97,841,978 40,381,752
610,036,472 455,940,934
Client Provided
Cash at Bank Break Up
Description June 30, 2019 June 30, 2018
Foundation 510,061,512
Hospital 2,132,983
University 97,841,978
610,036,472
WP Ref.:
AUDIT PROGRAM
Name Date
Prepared by: Ghafeer Ahmed Khan
Reviewed by:
(i) Cash and bank balances
Client: Isra Islamic Foundation

Period: June 30, 2019
Subject: Cash and bank balances
Amount in Rs.
Account balances:
Cash at Bank:
in SBL main branch saddar

In SBL IU baranch
in Bank Islami
Risk Assessment
S.No. Audit Objectives Assertions IR CR CRA
All cash and bank balances are
1 CA
completely and accurately recorded
All recorded cash and bank balances
2 E
actually exist.
3 V
recorded at appropriate values.
All cash and bank balances recorded

4 are owned by the client and title is R
also in the name of client.

presented and all disclosures have
been given in accordance with the
5 OCAL RVU
Fourth / Fifth Schedule of the
Companies Ordinance, 1984 and
relevant IASs.
S.No. Audit Procedures Objective Done by W. P. Ref.
Test of Controls
Assess the reasonableness of design of system of

internal control by enquiring relevant client
personnel and documenting the same (if not a
documented system manual has been developed by
the client). A walk through test would be necessary
1 ALL
to confirm the understanding as documented.
Identify the preventive (exercised before occurrence
of transactions and event) and detective (exercised
after occurrence of transactions and event) controls
established by management to support its assertions.
Check on sample of selected transactions covering

2 the whole period that all preventive controls are ALL
exercised on all transactions.
Check on a sample of transactions that

detective controls are appropriately been exercised
3 and in case of any detection of error/ fraud, proper ALL
steps have been taken to avoid recurrence of the
same.
Proper segregation of duties between custodian and

4 CE
accounting and approving personnel exist.
Payments vouchers are appropriately prepared and

5 ECA
properly approved by designated authority.
Ensure that management does not override the

designed controls by:
6 - Enquiring from the designated staff person -
- Remain skeptical during performing test of design
and test of effective operation
Document the conclusion after performing test of

7 N/A
controls.
Test of Details
Attend year-end cash count and deposit

1 E
verification.
Circularize direct confirmations to all

2 ER
banks.
Trace opening balance in general ledger

3 CE
from last year working papers.
Ensure that all balances etc. reported by

bank in replies to bank confirmation
4 CA
request are included in records of the
client.
Ensure that all bank accounts are in

5 R
company's name.
Ensure that closing balances as per our

6 working paper file are in match with N/A
general ledger.
Determine that disclosures have been

made in accordance with the requirements of Fourth
7 OCAL RVU
Schedule to the Companies Ordinance, 1984 and the
applicable IASs.
June 30, 2019
Account Code Description W.P. Ref.
(Rupees)
1-43-02-0041 Askari Haripur A/c # 1650500669 -
1-43-02-0057 Askari Bank A/C # 0400100594932 1,000
1-43-02-0053 MCB--A/c # (0594-1466-4100-0686) -
1-43-02-0052 HBL SITE Karachi 0947-79005137-03 -
1-43-02-0040 HBL-ADVANTAGE A/C SITE -
1-43-02-0033 JS Bank Ltd. KHI -
1-43-02-0016 Bank of Khyber A/c # 00051-00-00-4 Err:509
1-43-02-0024 Faysal Bank Ltd Err:509
1-43-02-0037 National Bank Err:509
1-43-02-0035 ABL clifton Corporate -
1-43-02-0048 Al-Baraka Bank-(0536-00-00-03719) Err:509
1-43-02-0049 MCB--A/C # (0594-1466-4100-2829) Err:509
14305 PBL Devidend A/c Err:509
14305 ACBL Dividend A/c # 3176-7 Err:509
Total Cash at Bank Err:509
Cash in Hand 1,028,880

Err:509
June 30, 2018
(Rupees)
42,309,355
15,082,811
29,944
85,868
170,299
657,580
8,679
701
3,569
233,027
225,354
58,807,187
1,050,954
59,858,142
021) 34549345-9
Ra Rahman Sarfaraz Rahim Iqbal Rafiq
Chart Chartered Accountants
SYSTEM NOTE: DIRECT PAYMENT (Payments in which stock and stores is not involved)
1 The bill from vendor is sent by the concerned department to the accounts department for a particular expense.
2 Bill is forwarded to Deputy Director for verification and after that, Mr.Asad (Accounts Officer) makes a JV and a PV, w
sequentially numbered, pre-dated, signed by Deputy Director, approved by Additional Director, reviewed by Director Au
authorized by Director Finance.
Control Activity
a PV and JV are sequentially numbered and pre-dated and are system generated.
b PV and JV is signed by Deputy Director (Barkat Jokio)
c PV and JV is approved by Additional Director (Iqbal Kazi)
d PV and JV is reviewed by Director Audit (Abdul Aziz Kazi)
e PV and JV is authorised by Director Finance (Ghulam Rasool Kazi)
3 The cheque is made of the amount prescibed in the vouchers by Mr .Mushtaq (Assistant Director)
Control Activity
a The cheque is signed by either 2 of the 3 authorized signatories. Authorized signatories are:
S.no Name Designation

1 Hameedullah Kazi Pro Vice Chancellor
2 Ahmed Waliullah Kazi Pro Vice Chancellor
3 Ghulam Rasool Kazi Director Finance
4 Saleem Kazi Director
5 Abdul Ghani Kazi Director
6 Asad ullah Kazi Director
4 The cheque is sent to stock and stores if it is an outside payment, otherwise it is retained at the Accounts Department for
concerned person to be collected.
ed)
t for a particular expense.
nts Officer) makes a JV and a PV, which are

al Director, reviewed by Director Audit and
tant Director)
ries are:
ned at the Accounts Department for the

Objective
To identify preventive, detective and corrective controls over bank Payments.
Details relating selected transaction
Party Name Nizam Energy (Pvt) Ltd.

Nature of Item Installation of Solar Power Plant of 52 KW at IIF
Invoice date 26-Jul-19
Invoice amount Rs. 390,000 /=
Journal voucher #
Journal voucher Date 31-Aug-18
Payment voucher #
Payment voucher date 31-Aug-18
Work Done
The above transaction is selected relating to bank payments and the following controls has been identfied :
1) Payment voucher and journal voucher was prepared by Mr.Asad (Accounts Officer) on the basis of
aaasupporitng documents (Bill)
2) The voucher was sequentially numbered and was system generated.
3) The voucher was signed,approved,reviewed and authorised by Deputy Director (Barkat Jokio) ,Additional
Director (Iqbal Kazi) ,Director Audit (Abdul Aziz Kazi) and Director Finance (Ghulam Rasool Kazi)
respectively.
4) The cheque was prepared by Mr.Mushtaq and was signed by the Director Finance (Ghulam Rasool aaaKazi)
and Director (Abdul Ghani Kazi).
5) The transaction has been appropriately accounted for into the system.
SYSTEM NOTE: INDIRECT PAYMENT (Payments in which stock and stores is involved)
1 Bill is received at Stock and Stores, after passing an entry i:e stock and stores debit and credit (just for the recording purposes) the bill and other
supporting documents like Purchase approval and Material Requisition are sent to Accounts Department.
2 Upon receiving these documents from stock and stores, Mr. Asif (Accounts officer) makes 2 JVs and a PV, which are sequentially numbered, pre-
dated, signed by Deputy Director, approved by Additional Director, reviewed by Director Audit and authorized by Director Finance.
Control Activity
a PV and JV are sequentially numbered and pre-dated and are system generated.
b PV and JV is signed by Deputy Director (Barkat Jokio)
c PV and JV is approved by Additional Director (Iqbal Kazi)
d PV and JV is reviewed by Director Audit (Abdul Aziz Kazi)
e PV and JV is authorised by Director Finance (Ghulam Rasool Kazi)
3 The cheque is made of the amount prescibed in the vouchers by Mr .Mushtaq (Assistant Director)
Control Activity
The cheque is signed by either 2 of the 5 authorized signatories. Authorized signatories are:
Name Designation
Hameedullah Kazi Pro Vice Chancellor
Saleem Kazi Vice Chancellor
Ghulam Rasool Kazi Director Finance
Abdul Ghani Kazi Director
Asad ullah Kazi Director
4 The cheque is sent to stock and stores for supplier delivery.

Rahman Sarfaraz Rahim Iqbal
Chartered Accountants Chartered Accountants
Objective
To identify preventive, detective and corrective controls over bank Payments.
Party Name Saify Trading Corporation

Nature of Item Material for Fitting Tile
Qty of Cement based tile adhesive 2800 bags
Price of Cement based tile adhesive Rs.-672000/=
Qty of cement based colored tile grout 530 KG
Price of Cement based colored tile grout Rs.-63600/=
Invoice date 13-Jun-19
Total Invoice amount Rs. 735,600 /=
Journal voucher #
Journal voucher Date 21-Jun-18
Payment voucher #
Payment voucher date 21-Jun-18
Work done
The above transaction is selected relating to bank payments and the following controls has been identfied :
1 Payment voucher and journal voucher was prepared by Mr.Asif (Accounts Officer) on the basis of
supporitng document (Bill)
2 The voucher was sequentially numbered and was system generated.

3 The voucher was signed,approved,reviewed and authorised by Deputy Director (Barkat Jokio)
,Additional Director (Iqbal Kazi) ,Director Audit (Abdul Aziz Kazi) and Director Finance (Ghulam
Rasool Kazi) respectively.
4 The cheque was prepared by Mr.Mushtaq and was signed by the Director Finance (Ghulam Rasool
aaaKazi) and Pro vice chancellor (Hameedullah Kazi).
5 The transaction has been appropriately accounted for into the system.
SYSTEM NOTE:University RECIEPT
1 In university business, students directly submit their fees' in bank through challan which is issued by Admission Department. There
are 3 copies in challan i:e for bank, for accounts department and one for student. Bank gives students copy to the student and retains
the other two. All accounts department's copies of challan are picked from the bank by the accounts department's field officer Mr.
Shafqat Junejo on a daily basis.
2 The copy of challan is sent to Mr. Noor Muhammad (Accounts Assistant) who verify the payment from bank statements.
Control Activity
a Payment is verified by Accounts Assistant (Mr.Noor Muhammad) from bank statements.
3 The challan is then sent to Mr. Zaheer (Accounts Officer) to make the summary of the challans.
Control Activity
a Summary of challan is approved by Deputy Director Audit (Mr. Ali Baksh Kazi).
4 These documents are then sent to Mr. Irfan (Accounts Officer) who makes Receipt Voucher, which are sequentially numbered, pre-
dated, signed by Deputy Director, approved by Additional Director, reviewed by Director Audit and authorized by Director Finance.
Control Activity
a Receipt Vouchers are sequentially numbered and pre-dated and are system generated.
b RV is signed by Deputy Director (Barkat Jokio)
c RV is approved by Additional Director (Iqbal Kazi)
d RV is reviewed by Director Audit (Abdul Aziz Kazi)
e RV is authorised by Director Finance (Ghulam Rasool Kazi)
Objective
To indentify preventive, detective and corrective controls over university receipts.
Name of Customer Students

Nature of Item Examination & certfication fee
Voucher Date 5-Apr-18
Voucher Number 13483
Amount 53,900
Paymnet method Challan paid in bank
Bank Soneri Bank Limited
Work Done
The above transaction has been selected and the following controls has been identified.
1 The challan submitted by the student was received by the accounts department from bank.
2 Payment was verified by Accounts Assistant (Mr. Noor Muhammad) from the bank statements.
3 Accounts Officer (Mr. Zaheer) prepared the summary of challan and Deputy Director Audit (Mr. Ali Baksh Kazi) approved
the summary of challan'
4 The Reciept voucher was prepared by Mr. Irfan and was signed, approved, reviewed and authorised by Deputy Director
(Barkat Jokio) ,Additional Director (Iqbal Kazi) ,Director Audit (Abdul Aziz Kazi) and Director Finance (Ghulam Rasool
Kazi) respectively.
5 The transaction has been appropriately accounted for into the system.
nt from bank.
ank statements.
ector Audit (Mr. Ali Baksh Kazi) approved
wed and authorised by Deputy Director

nd Director Finance (Ghulam Rasool
SYSTEM NOTE:Hospital RECIEPT
1 In hospital business, the hospital income is mainly of cash.The hospital income is deposited by Cashier on the daily basis in Soneri Bank
Limited. The customer copy of the deposit slip is kept by the depositer. The summary page of income deposited is attached with the
deposit slip and the signatures is obtained from Reception incharge and Director (Hospital) namely Mr. Jummun and Mr. Abdul Ghani
Kazi.After obtaining signatures, the documents is then sent to accounts departments.
Control Activity
a Summary of Income deposited is approved by Deputy Director Hospital (Mr. Sajjad Kazi).
2 The documents are then sent to Audit Assistant (Mr. Zulqarnain) who verify the summary and deposit slip. In case of cheque payment by
the customer the payment deposited is also verified through bank statements by Mr. Zulqarnain.
Control Activity
a Summary of Income deposited is verified by Audit Assistant (Mr. Zulqarnain).
3 After verification, the document is sent to Mr. Fazal Mahmood (Accounts Officer) who makes Receipt Voucher, which is sequentially
numbered, pre-dated, signed by Deputy Director, approved by Additional Director, reviewed by Director Audit and authorized by Director
Finance.
Control Activity
a Receipt Vouchers are sequentially numbered and pre-dated and are system generated.
b RV is signed by Deputy Director (Barkat Jokio)
c RV is approved by Additional Director (Iqbal Kazi)
d RV is reviewed by Director Audit (Abdul Aziz Kazi)
e RV is authorised by Director Finance (Ghulam Rasool Kazi)
Objective
To indentify preventive, detective and corrective controls over hospital receipts.
Name of Customer Multiple patients

Nature of Item Operation, Lab, Investigation charges
Voucher Number 547
Amount 899,027
Paymnet method Cash deposited in bank
Bank Soneri Bank Limited
Work done
The above transaction has been selected and the following controls has been identified:
1 Cash generated through hospital was deposited in bank and deposit slip was obtained.
2 The summary of hospital income was attached with the deposit slip and was duly signed by the reception incharge (Mr.
Jummun) and Deputy Director Hospital (Mr. Sajjad Kazi).
3 Summary of Income deposited was further verified by Audit Assistant (Mr. Zulqarnain).
4 The Reciept voucher was prepared by Mr. Fazal (Accounts Officer) and was signed, approved, reviewed and authorised b
Deputy Director (Barkat Jokio) ,Additional Director (Iqbal Kazi) ,Director Audit (Abdul Aziz Kazi) and Director Finance
(Ghulam Rasool Kazi) respectively.
eception incharge (Mr.
iewed and authorised by

nd Director Finance
Objective:
To ensure whether preventive, detective and corrective controls are operating effectively over payments.
Basis of Sampling:
We have selected 40 transactions i.e 3 transaction from each month and 7 transaction from the month of june 2019.
Test of Controls:
TOC 1 Whether suppoting documents (e.g Bill /Invoice) is received.
TOC 2 Whether journal voucher and payment voucher are sequentially numbered and are;
a signed by Deputy Director (Barkat Jokio)
b approved by Additional Director (Iqbal Kazi)
c reviewed by Director Audit (Abdul Aziz Kazi)
d authorised by Director Finance (Ghulam Rasool Kazi)
TOC 3 Whether the cheque is prepared by Mr Mushtaq (Assistant Manager) and is signed by either 2 of the 6 following authorized signatories;
Name Designation
Hameedullah Kazi Pro Vice Chancellor
Ahmed Waliullah Kazi Pro Vice Chancellor
Ghulam Rasool Kazi Director Finance
Saleem Kazi Director
Abdul Ghani Kazi Director
Asad ullah Kazi Director
S. No Date Description Voucher no:
Saleem raza qureshi [Isra Hospital] [Head Office (IIF)]

1 19-Jul-18 3
Payment against Advance paid against petty cash for the period 2018-2019, dt:19.07.2018
Ibn-ul-Aziz Medical Group [Isra Hospital] [Head Office (IIF)]
2 20-Jul-18 5
Payment against Advance paid against P .o # 31614, dt:07.07.2018, item: Medical Equipment for Bio Medical Dept:
ETHAN Biotechnology [Isra Hospital] [Head Office (IIF)]

3 26-Jul-18 98
Payment against Advance paid (50% of Rs.794,675/-) against P .o # 31443, dt:30.06.2018, itm: Furniture (Panel for ER)
Fine Line Sales & Services Hyderabad [Isra Hospital] [Fine Line Sales & Services Hyderabad]
4 3-Aug-18 307
Payment against P .o # 31782, dt:12.07.2018, itm: Medicine/ Surgical Consumable Material
Kawish Publication (Pvt) Ltd

5 7-Aug-18 403
Paid against Advertisement & publicity for Job Opportunities At Al-Tibri invoice # 0040/18, dt:15.07.2018
Pakistan Chemical Industries Hyderabad [Isra Hospital] [Pakistan Chemical Industries Hyderabad]
6 4-Aug-18 327
Payment against P .o # 31590, dt:05.07.2018, itm: Spirit 1x5 Ltr/ Surgical Material
Image Computers Hyd [Isra Hospital] [Image Computers Hyderabad]
7 5-Sep-18 Payment against P .o # 32498, dt:25.08.2018, itm: Laptop Lenovo x230 Core i5 3rd Generation 4GB 320GB for IT Lab 773
Hospital
Ahmed Diagnostics Link [Isra Hospital] [Ahmed Diagnostics Link]
8 5-Sep-18 779
Payment against P .o # 31376, dt:20.06.2018, itm: Material for Dental Operative (Post Graduate)
COMBINED TECHNOLOGIES [Isra Hospital] [COMBINED TECHNOLOGIES]

9 10-Sep-18 863
Payment against P .o # 31318, dt:12.06.2018, itm: Dental Laser and High Volume Suction
ETHAN Biotechnology - Karachi [Isra Hospital] [ETHAN Biotechnology - Karachi]

10 2-Oct-18 Payment against P .o # 32808, dt:13.09.2018, itm: 02 Alaram Panel for Emergency dpt, 02 Flow Meter with Humidifier and 1160
Various Material for Peads Ward Welfare
Maya-The Exclusive [Isra Hospital] [Head Office (IIF)]
11 4-Oct-18 Payment against Advance paid (remaining 50% of Rs.1,048,000/-) against P .o # 31535, dt:30.06.2018, itm: chair for different 1195
room
Mega Enterprises [Isra Hospital] [Head Office (IIF)]
12 5-Oct-18 1203
Payment against Paid against supply of R.O water at IUH & Laboratory for the month of Aug & Sept-2018
Ebaad Enterprises Hyderabad [Isra Hospital] [Ebaad Enterprises]
13 5-Nov-18 1619
Payment against P .o # 33637, dt:29.10.2018, itm: Latex Gloves L/M/S (1x100/50 Pair)/ Surgical Material
Shabbir Tiles & Ceramics Limited [Isra Hospital] [Head Office (IIF)]
14 7-Nov-18 1647
Payment against Advance paid against P .o # 33604, dt:31.10.2018, itm: Tiles for washroom surgery ward
Haji Sons Hyderabad [Isra Hospital] [Haji Sons Hyderabad]
15 22-Nov-18 Payment against P .o # 33703, dt:01.11.2018, itm: Building Material For Welfare Hospital Boundary Wall Gate-2 Side Need to 1890
Repair and Paint
Ultra Tech Hospital Products Hyd: [Isra Hospital] [Ultra Tech Hospital Products]
16 10-Dec-18 2159
Payment against Remaining (50% of Rs.1,405,000/-) against P .o # 33986, dt:16.11.2018, itm: Medical & Hospital Equipments
Muhammad Furqan (Purchase Manager) [Isra Hospital] [Head Office (IIF)]

17 12-Dec-18 Payment against Advance paid against MR # 39724,39732,39768,39904,39821,39555, shezore & other expense dt:11.12.2018, 2203
itm: general material
One 6 One Creative House [Isra Hospital] [One 6 One Creative House]
18 21-Dec-18 2339
Payment against P .o # 34471, dt:13.12.2018, itm: Printing and Advertising Work @ Different Events and Different Places
Canteen [Isra Hospital]

19 4-Jan-19 2439
Payment against Paid against entertainment expense for poor patient from dt:16.12.2018 to dt:31.12.2018
Ebaad Enterprises Hyderabad
20 5-Jan-19 6811
P .o # 34434, dt:11.12.2018, itm: Various Medicine Material
Ebaad Enterprises Hyderabad
21 5-Jan-19 6812
P .o # 34435, dt:11.12.2018, itm: Different Medicine Material
Amna Mangi (IU)
22 15-Feb-19 2579
Paid against reimbursement of insurance claim (ref: RV # 2578, dt:15.02.2019)
Shazia Parveen (IU)
23 15-Feb-19 2581
Paid against reimbursement of insurance claim (ref: RV # 2580, dt:15.02.2019)
Mr. Syed Ghulam sharfuddin (Mason Enterprises)
24 15-Feb-19 Paid against clearing & forwarding Agent's commission regarding Islamic Book ( Import thru Ahmed Wali Kazi for Isra 2585
Foundation School)
Shaheen Airport Services
25 25-Mar-19 9917
Paid against cleaning charges regarding L/C # 19INSU1602-00037, USD 25,000 Medical Equipment for IUH dt:25.03.2019
Kohisar Enterprises
26 25-Mar-19 9917
Paid against cleaning charges regarding L/C # 19INSU1602-00037, USD 25,000 Medical Equipment for IUH dt:25.03.2019
isra islamc foundation
27 26-Mar-19 Amount transfer from 1602-0103610527 in the name of M/s Isra Islamic Foundation (G) Ltd. MEEZAN Bank LTD. to 1602- 2730
0103127935 Meezan
I.S.Enterprises bank [Isra
Hyderabad Ltd. on account[I.S
Hospital] of recurring forHyderabad]
Enterprises the month of March-2019
28 5-Apr-19 Payment against P .o # 36182, dt:14.03.2019, itm: Drip Set I.V Ordinary-Unison/ Surgical Consumable for Welfare Store 2751
(Zakat Fund)
29 5-Apr-19 2753
Payment against P .o # 36180, dt:14.03.2019, itm: Mediicine for Welfare Store
Premier Agency Laifabad Hyderabad [Isra Hospital] [Premier Agencies Hyderabad]
30 6-Apr-19 2755
Payment against P .o # 36185, dt:14.03.2019, itm: MEP (Omeprazole) 40mg Capsule (1x14)-Genix Pharma
Aziz & Sons
31 2-May-19 Paid against purchase of medicine for Hepatitis (Complete course) for patient Mrs. Tasleem W/o Muhammad Arif (Security 2834
guard of IU) dt:02.05.2019
Adil Agencies Hyderabad [Isra Hospital] [Adil Agencies Hyderabad]

32 14-May-19 2861
Payment against P .o # 36728, dt:10-04-2019, itm: Daonil and Glucophage 500 mg
33 14-May-19 2866
Payment against P .o # 37043, dt:27.04.2019, itm: Various Medicine Material for zakat fund
34 11-Jun-19 2969
Payment against P .o # 37571, dt:27.05.2019, itm: Sterimet (Metronidazole) 100ml Infusion for Zakat Fund
Noor Distributor - Hyderabad [Isra Hospital] [Noor Distributor Hyderabad]
35 18-Jun-19 Payment against P .o # 37629, dt:30.05.2019, itm: Tanzo (Piperacillin+Tazobactam) Lyophilized 4.5g Inj-Bosch/ Medicine 3006
Material (Invoice#742988)
Noor Distributor - Hyderabad [Isra Hospital] [Noor Distributor Hyderabad]
36 18-Jun-19 Payment against P .o # 37629, dt:30.05.2019, itm: Tanzo (Piperacillin+Tazobactam) Lyophilized 4.5g Inj-Bosch/ Medicine 3007
Material (Invoice#740559)
Tawakal Enterprises Channal-II Pharmaceutical Distributor Hyd [Isra Hospital] [Tawakal Enterprises Channel II]
37 29-Jun-19 3032
Payment against P .o # 37745, dt:14.06.2019, itm: Easehale Respules Nebuliser Sol 0.025%/ Medicine Material
I.S.Enterprises Hyderabad [Isra Hospital] [I.S Enterprises Hyderabad]
38 29-Jun-19 3033
Payment against P .o # 37744, dt:14.06.2019, itm: Surgical Consumable Material
39 29-Jun-19 3035
Payment against P .o # 37742, dt:14.06.2019, itm: Medicine Material for Welfare Medical Stare
40 29-Jun-19 3034
Payment against P .o # 37743, dt:14.06.2019, itm: Various Medicine Material
Conclusion:
Based on the work performed we have obtained sufficient appropriate audit evidence that controls relating to bank payment are operating effectively throughout the year uner audit.
Amount Mode of
TRX ID Account no: Bank Name Instrument no TOC 1 TOC 2 TOC 3
(Credit) Payment
0018105 IIF 01-01(01520005487) 30,000 SBL Cheque P P P
(01021217230)11381-01
0182719 100,426 SBL Cheque P P P
(IIF/IUWH) Zakat Account
0183055 1602-010970000 56,736 SBL Cheque P P P
0182826 IIF 01-01(01520005487) 22,920 SBL Cheque
0185450 1602-0103127932 96,932 MBL Cheque P P P
0185463 1602-0103127932 63,316 MBL Cheque P P P
0185920 1602-0103127932 792,000 SBL Cheque P P P

Amount Mode of
(Credit) Payment
0187910 1602-0103127932 222,563 SBL Cheque P P P
0188219 1602-0103127932 476,840 SBL Cheque P P P
0188271 1602-0103127932 248,300 SBL Cheque P P P
0191453 1602-0103127932 168,300 SBL Cheque P P P
0191704 1602-0103127932 311,674 SBL Cheque P P P
0193262 1602-0103127932 154,100 SBL Cheque P P P
0195218 1602-0103127932 670,888 SBL Cheque P P P
0195592 1602-0103127932 100,000 SBL Cheque P P P

Amount Mode of
(Credit) Payment
0196546 1602-0103127932 609,025 SBL Cheque P P P
SBL# A/c # 01021199361

197758 59,815 SBL Cheque P P P
(2662-02)(PWF)
0197894 SBL-(52-15)-01021196729 132,969 SBL Cheque P P P
0197903 SBL-(52-15)-01021196729 70,052 SBL Cheque P P P
0201812 32,562 MBL Cheque P P P
0201815 53,765 MBL Cheque P P P

12000
0201909 MBL Cheque P P P
0205561 1602-0103610527 85,467 MBL Cheque P P P
0205561 1602-0103610527 7,800 MBL Cheque P P P
0205684 1602-0103610527 6,937,230 MBL Cheque P P P
0206681 (01021217230)11381-01 25,542 SBL Cheque P P P
0206684 (01021217230)11381-01 119,474 SBL Cheque P P P
0206689 (01021217230)11381-01 1,611 SBL Cheque P P P
0209542 (01021217230)11381-01 23,923 SBL Cheque P P P

Amount Mode of
(Credit) Payment
0210671 (01021217230)11381-01 11,055 SBL Cheque P P P
0210682 (01021217230)11381-01 101,130 SBL Cheque P P P
0212630 (01021217230)11381-01 11880 SBL Cheque P P P
0213236 (01021217230)11381-01 17,274 SBL Cheque P P P
0213238 (01021217230)11381-01 28,790 SBL Cheque P P P
0214651 (01021217230)11381-01 37,799 SBL Cheque P P P
0214653 (01021217230)11381-01 91,624 SBL Cheque P P P
0214660 (01021217230)11381-01 454,484 SBL Cheque P P P
0214657 (01021217230)11381-01 94,559 SBL Cheque P P P
P P P
he year uner audit.

Objective:
To ensure whether preventive, detective and corrective controls are operating effectively over Reciepts.
Basis of Sampling:
We have selected 40 transactions i.e 3 transaction from each month and 7 transaction from the month of june 2019.
Test of controls:
For University Receipts

TOC 1 Whether summary of challan is approved by Deputy Director Audit (Mr. Ali Baksh Kazi).
TOC 2 Whether payment is verified by Accounts Assistant (Mr.Noor Muhammad) from bank statements.
TOC 3 Whether receipt voucher is sequentially numbered and is;
For Hospital Receipts
TOC 1 Whether deposit slip is obtained from bank against payment deposited.
TOC 2 Whether summary of income deposited is approved by Director Hospital (Mr. Abdul Ghani Kazi).
TOC 3 Whether receipt voucher is sequentially numbered and is;
Voucher
S. No Business Date Particulars TRX ID
no:
Cash received from Isra University Hospital and deposited in Soneri Bank Limited.
1 Hospital 17-Jul-2017 12006 RV-133405
2 Hospital 04-Jul-2017 129 RV-133283
3 Hospital 11-Jul-2017 150 RV-133397
4 Hospital 02-Aug-2017 368 RV-134335
Cheque recieved from Al Falah Insurance Co on account of hospitalization patients &

5 Hospital 23-Aug-2017 1016 RV-136840
deposited in Soneri Bank Limited
6 Hospital 21-Aug-2017 1497 RV-137830
7 Hospital 11-Sep-2017 1970 RV-139124
8 Hospital 07-Sep-2017 2240 RV-140213
9 Hospital 21-Sep-2017 2603 RV-141636
Cheque recieved from pak qater family takaful & deposited in Soneri Bank Limited
10 Hospital 12-Oct-2017 3238 RV-143437
Cheque recieved from State Life Insurance Corporation ( under prime minister National
11 Hospital 16-Oct-2017 health Program ) on account of hospitalization patients & deposited in Soneri Bank 3332 RV-143873
Limited
12 Hospital 24-Oct-2017 3751 RV-145139
Cash Received against sale of 14 Computer Set, 5 printers, 2 UPS and 1 fax machine.
13 University 06-Nov-2017 4994 RV-146677
14 Hospital 03-Nov-2017 Cash received from Isra university Hospital & deposit in Soneri Bank 4727 RV-148547
Voucher
no:
15 Hospital 23-Nov-2017 Cash received from Isra university Hospital & deposit in Soneri Bank 5410 RV-150470
16 Hospital 18-Dec-2017 Cash received from Isra university Hospital & deposit in Soneri Bank 6479 RV-153271
Voucher
no:
19 Hospital 02-Jan-2018 Cash received from Isra university Hospital & deposit in Soneri Bank 7204 RV-155564
Received funds under Indigineous PhD Fellowships 5000 in favour of Mr. Muhammad
22 University 10-Feb-2018 Umair Deptt. of Engineering and Applied Sciences. 10413 RV-160802
23 University 20-Feb-2018 Exam income recieved thru soneri Bank Collection Account. 10977 RV-162160
24 University 20-Feb-2018 Exam income recieved thru soneri Bank Collection Account. 11008 RV-162278
25 University 09-Mar-2018 Fee received in Soneri bank Collection account 11946 RV-164712
28 University 27-Apr-2018 Fee received in Soneri bank Collection account 14506 RV-171557
31 University 29-May-2018 Fee received in Soneri bank Collection account 15850 RV-175560
Voucher
no:
34 University 23-Jun-2018 Fee received through MCB Account 16796 RV-178348
35 University 28-Jun-2018 Fee received through Meezan Bank 17091 RV-179222
Conclusion:
Based on the work performed we have obtained sufficient appropriate audit evidence that controls relating to bank reciepts are operating effectively throughout the year.
Bank Mode of
Account no: Amount Instrument # TOC 1: TOC 2: TOC 3:
Name receiving
SBL 03-01(01520005508) 500,000 SBL Cash 768453 P P P
SBL 03-01(01520005508) 471,178 SBL Cash 759819 P P P
SBL 03-01(01520005508) 1,000,000 SBL Cash 768131 P P P
SBL 03-01(01520005508) 135,910 SBL Cash 740138 P P P
SBL 03-01(01520005508) 32,072 SBL Cheque 96955079 P P P
SBL 03-01(01520005508) 604,587 SBL Cash 745701 P P P
SBL 03-01(01520005508) 300,000 SBL Cash 745967 P P P
SBL 03-01(01520005508) 800,000 SBL Cash 745632 P P P
SBL 03-01(01520005508) 640,000 SBL Cash 913301 P P P
SBL 03-01(01520005508) 230,469 SBL Cheque 230469 P P P
SBL 03-01(01520005508) 331,110 SBL Cheque 0000 0292 P P P
SBL 03-01(01520005508) 500,000 SBL Cash 923623 P P P
N/A 16,960 N/A Cash N/A P P P
SBL 04-01(01520005514) 165,665 SBL Cash 904765 P P P

Bank Mode of
Name receiving
SBL 04-01(01520005514) 79,435 SBL Cash 894348 P P P
SBL 04-01(01520005514) 229,770 SBL Cash 894879 P P P

Bank Mode of
Name receiving
SBL 04-01(01520005514) 36,720 SBL Cash 845301 P P P
SBL 04-01(01520005514) 32,560 SBL Cash 845495 P P P
SBL 04-01(01520005514) 60,315 SBL Cash 881243 P P P
SBL 04-01(01520005514) 188,945 SBL Cash 848659 P P P
SBL 04-01(01520005514) 26,550 SBL Cash 888044 P P P
SBL 02-01(01520005493) 384,000 SBL cheque 100960 P P P
Challan paid in
SBL 02-01(01520005493) 24,100 SBL Cash P P P
bank
Challan paid in
SBL 02-01(01520005493) 49,600 SBL Cash P P P
bank
Challan paid in
SBL 02080123110 1,200,000 SBL Cash P P P
bank
Challan paid in
SBL 02080123110 10,000 SBL Cash P P P
bank
Challan paid in
SBL 02080123110 6,900 SBL Cash P P P
bank
Challan paid in
SBL 02080123110 1,992,164 SBL Cash P P P
bank
Challan paid in
SBL 02080123110 28,700 SBL Cash P P P
bank
Challan paid in
SBL 02080123110 26,500 SBL Cash P P P
bank
Challan paid in
SBL 02080123110 15,000 SBL Cash P P P
bank
Bank Mode of
Name receiving
Challan paid in
SBL 02080123110 231,000 SBL Cash P P P
bank
Challan paid in
SBL 02080123110 1,500 SBL Cash P P P
bank
Challan paid in
MCB 0943607671001614 4,746,000 MCB Cash P P P
bank
Challan paid in
MBL 1602-0103127906 131,000 MBL Cash P P P
bank
Challan paid in
MBL 1602-0103127906 8,000 MBL Cash P P P
bank
Challan paid in
MBL 1602-0103127906 12,500 MBL Cash P P P
bank
Challan paid in
MBL 1602-0103127906 315,850 MBL Cash P P P
bank
Challan paid in
MBL 1602-0103127906 567,500 MBL Cash P P P
bank
Challan paid in
MBL 1602-0103127906 6,000 MBL Cash P P P
bank
the year.
CLIENT : Isra Islamic Foundation

PERIOD : Err:509 Hamza Shahnawaz
SUBJECT: Cash and Bank Movement DATE :
Movement During the year
BUSSINESS BANK Opening Balance Debit CREDIT Closing Balance
Foundation Cash With Bank - SBL-(0052-17)-2011267908 (1,861,053) 41,757,217 39,890,690
Foundation Cash With Bank - IIF 01-01(01520005487) 73,545,967
Foundation Cash With Bank - SBL 02-01(01520005493) (IIF_IU) 889,946 - 889,946
Foundation Cash With Bank - SBL-(1891-03)-01021198419 17
Foundation Cash With Bank - SBL-(52-15)-01021196729 323,887,943 2,127,610,032 2,430,675,600
Foundation Cash With Bank - SBL-01021583299 (IIF-IU Islamabad) -
Foundation Cash With Bank - SBL# (01021217230)11381-01 (IIF/IUWH) Zakat Account (2,171,919) 21,993,262 15,019,657
Foundation Cash With Bank - SBL-(0052-35)-000602011267914(IIF) 2,621,494
Foundation Cash With Bank - SBL-(0052-01)-02011267893 1,593,154
Foundation Cash With Bank - Demand Finance II (1)
Foundation Cash With Bank - SBL# 11442-01(01021217356), IUH Symposium A/c (16,940) 16,940 -
Foundation Cash With Bank - SBL# A/c # 01021199361 (2662-02)(PWF) 1,363,256 3,996,194 4,793,935
Foundation Cash With Bank - SBL - 052-53(IIF) -
Foundation Cash With Bank - SBL 02080123110 ( IIF-IUCA) -
Foundation Cash With Bank - SBL A/c # 01520006190 (IMJ) 2,773,969
Foundation Cash With Bank - SBL. A/c # 1891-02 (IU-$) 34,710
Foundation Cash With Bank - SBL 01520024753 (NAVTTC) 1
Foundation Cash With Bank - SBL - 052-47 (IIF) - #REF!
Foundation Cash With Bank - 1020-0230766-0201(Bank Islami Hyd) 105,155 110,037 -
Foundation Cash With Bank - Isra Medical Symposium (SBL 01021216398) 157,249 238,352 395
Foundation Cash With Bank - SBL 01520029250 (CME - IIF) (1,070) 27,500 24,275
Foundation Car Finance - Loan # 73060006000041 (1)
University Cash With Bank - SBL-(1891-03)-01021198419 5,469
University Cash With Bank - SBL-(52-15)-01021196729 -
University Cash With Bank - SBL 01520009822-IIF(IDH) 510
University Cash With Bank - SBL-(10845-01)-01021216514 13,253
University Cash With Bank - SBL 01520017266 (IIF-IU CRD) 846,379
University Cash With Bank - SBL 02080123110 ( IIF-IUCA) 21,300,350
University Cash With Bank - SBL. A/c # 1891-02 (IU-$) 226,648
University Cash With Bank - 102002328150201 1,553,225
University Cash With Bank - 102002328230201 111,121
Hospital Cash With Bank - SBL-(0052-17)-2011267908 (196,336)
Hospital Cash With Bank - IIF 01-01(01520005487) (382)
Hospital Cash With Bank - SBL 03-01(01520005508) IIF-IUH 10,672,174
Hospital Cash With Bank - SBL 04-01(01520005514) IIF-IUWH 1,305,342
Hospital Cash With Bank - SBL-(52-15)-01021196729 -

Movement During the year
BUSSINESS BANK Opening Balance Debit CREDIT Closing Balance
Hospital Cash With Bank - SBL-01021583299 (IIF-IU Islamabad) -
Hospital Cash With Bank - SBL 01520009822-IIF(IDH) (40,234)
Hospital Cash With Bank - SBL 01021653308 (IIF) Islamabad -
Hospital Cash With Bank - SBL-(1806-02)-01021198329 21,048
Hospital Cash With Bank - SBL# 11442-01(01021217356), IUH Symposium A/c 881,442
Objective:
To ensure whether preventive, detective and corrective controls are operating effectively over Bank Reconciliation.
Test of Controls
TOC 1 Whether bank reconciliations are prepared on monthly basis.
TOC 2 Whether Reconciliations are approved by relevant personnels.
TOC 3 Whether reconciling items are reviewed by management.
S. No Bank Name Account Number TOC 1 TOC 2 TOC 3

1 Soneri Bank Limited (0052-17)-2011267908 O P P
2 Soneri Bank Limited 01-01(01520005487) O P P
3 MCB Bank Limited 0943607671001613 O P P
4 Meezan Bank Limited (1602-010970000) O P P
5 Soneri Bank Limited 01520009822 O P P
6 Soneri Bank Limited (1806-02)-01021198329 O P P
MCB 0943607671001614 (IIF
9 MCB Bank Limited
Collection) O P P
MBL 1602-0103127906 (IU
10 Meezan Bank Limited
Collection) O P P
11 Soneri Bank Limited SBL-(10845-01)-01021216514 O P P
12 Soneri Bank Limited SBL 02080123110 ( IIF-IUCA) O P P
Conclusion:
Based on our procedures we have identified control weakness i.e bank reconciliations are not prepared on monthly
basis.
Objective :
To obtain reasonable assurance regarding the Existence and Valutaion of Cash and Bank Balances as at June 30, 2019
Basis of Sampling : Random Sampling

We have selected 30 transactions on random basis for the purpose of testing.
Bank Voucher Cheque

Account # Payee / Payor Name Nature of Payment Cheque No
Name No. Amount
Un-Presented Cheques :
SBL 1021217230 177477 Noor Distributors Payment against purchase of Multiple medicines. 30404559 55,440
SBL 1021217230 177660 Noor Distributors Payment against purchase of Multiple medicines. 30404564 61,893
Dr Farid Ahmed &
SBL 1021217230 179106 Payment against purchase of Multiple medicines. 40471743 49,522
Company
SBL 601021199361 180243 Canteen Entertainment expense for poor patient. 14914003 45,495
Payment made against medicated gases bill for the month of
SBL 1520005487 0178581 United Gases 40697727 474,745
May-2018
Abbot Labortories
SBL 1520005487 0178788 Payment made against purchase of laboratory items. 40697748 781,230
Pakistan Limited
SBL 1520005487 0178809 S.Ejazuddin & Co Payment made against purchase of laboratory items. 40697752 584,460
Amount transfer from A/c # 01-01 (01520005487) to A/c #
Al-Nafees Medical
SBL 1520005487 0179611 01021583299 against on account of salary expense for the 40697789 30,167,516
College & Hospital
month of June-2018
Roche Pakistan
SBL 1520005487 0179751 Payment against purchase of Lab Material (Vendor) 40809485 533,340
Limited
Abbot Labortories
SBL 1520005487 0179770 Payment against purhases of Clinical Lab Material (Vendor) 40809494 686,487
Pakistan Limited
Payment made against purchase of HBV Amplification Kit and
SBL 1520005487 0179971 Hospicare Systems 40809498 1,260,000
Real Time HCV Amplification Kit (Vendor)
Roche Pakistan
SBL 1520005487 0179975 Payment against purchase of Clinical Lab Material (Vendor) 40809500 772,990
Limited
SBL 1520005487 0180594 Aziz & Sons Payment made against purchase of medicine for patients 40935183 1,421,639
Director Sindh
Payment made against social security contribution for the
SBL 601021196729 0178642 Employee Social 40813315 267,300
month of May-2018
Security institution
Employee Old Age Payment made against EOBI for IU staff members for the
SBL 601021196729 0178734 40813306 636,480
Benefit Institute month of March to June-2018
Payment made against funds to participants & staff member for

SBL 601021196729 0179873 isra hospital 40929994 250,000
Research amount for Invictus study trail from PHRI Canada
Deputy Commissioner Payment made against Income Tax (Salaries/Payroll) dedcuted
SBL 601021196729 0178753 40813312 1,318,241
FBR Hyderabad. at source from salaries for the month of May-2018
Payment made against Salaries & Recurring expense for the

isra Quran Fahmi
SBL 601021196729 0179037 month of May-2018 (taxi fare for teachers, generator POL for 40813417 701,783
Programme
Madarsas etc)
Payment made against purchases of Hard Disk SSD 240,

SBL 601021196729 0179229 Image Computers Hyd Keyboard USB, Mouse USB A4 Tech, Processor HP ProDesk 40813431 322,551
800G1 Desktop, Core 15 4th Gen, 8gb Ram, DVD R (Vendor)
Payment made against purchases of Hard Disk SSD 240,

SBL 601021196729 0179235 Image Computers Hyd Keyboard USB, Mouse USB A4 Tech, Processor HP ProDesk 40813433 317,251
800G1 Desktop, Core 15 4th Gen, 8gb Ram, DVD R
Deputy Commissioner Payment made against withholding tax (Student Fees) deducted
SBL 601021196729 0179706 40929991 631,200
FBR Hyderabad. at source for Session January-2018
Payment made against purchase of Server Dell Poweredge

SBL 601021196729 0179716 IT Line 40930021 1,384,750
R720 for ERP
Shafqat Hussain
SBL 601021196729 0179800 Junejo Mr. - Field Auto generated transaction against Cash payroll 2018-06 40813538 1,322,800
Officer
Staff Member - SBL
SBL 601021196729 0179800 Auto generated transaction against Cash payroll 2018-06 40813539 6,577,920
Main Branch
Staff Member - SBL
SBL 601021196729 0179800 Auto generated transaction against Cash payroll 2018-06 40813540 39,692,680
IU Branch
Payment made against purchase of Hard Disk SSD 240,
SBL 601021196729 0179817 Image Computers Hyd Keyboard USB, Mouse USB A4 Tech, Processor HP ProDesk 40930045 1,641,358
800G1 Desktop/ Computer Material.
Advance payment made against purchase of Steel bar for block
SBL 601021196729 0180009 Amreli Steel Ltd. 40930014 9,908,000
"E"
KUN Advertisement Payment made against Advertisement & publicity for career
SBL 601021196729 0180320 40930078 252,958
Agency opportunity.
Mr. Jawad Ahmed Payment made against endowment scholorship to MBBS
Panhwar [Isra students renewal candidate awardee Mr. Jawad Ahmed
SBL 601021196729 0180382 40930070 650,000
University] [Head Panhwar S/o Badruddin, I.D # 1410-MBBS 118 for academic
Office (IIF)] year 2016
Payment made to labour payment for leveling and cleaning
SBL 601021196729 0180617 Labour 41040428 505,400
work of new markaz-e-Islami building
Total Coverage 103,275,429

Amount as per reconciling summary. 135,276,237
% Covered 76%
Date of
Cheque Acknowledge
Subsequent
Issuance Date ment
Clearance
12-Jun-18 9-Jul-18 O
13-Jun-18 9-Jul-18 O
28-Jun-18 5-Jul-18 O
30-Jun-18 9-Jul-18 O
25-Jun-18 3-Jul-18 O
26-Jun-18 13-Jul-18 O
26-Jun-18 4-Jul-18 O
29-Jun-18 3-Jul-18 O
30-Jun-18 12-Jul-18 O
30-Jun-18 20-Jul-18 O
30-Jun-18 12-Jul-18 O
30-Jun-18 12-Jul-18 O
30-Jun-18 12-Jul-18 O
25-Jun-18 6-Jul-18 O
26-Jun-18 5-Jul-18 O
30-Jun-18 3-Jul-18 O
26-Jun-18 5-Jul-18 O
27-Jun-18 3-Jul-18 O
28-Jun-18 5-Jul-18 O
28-Jun-18 5-Jul-18 O
30-Jun-18 11-Jul-18 O
30-Jun-18 17-Jul-18 O
30-Jun-18 3-Jul-18 O
30-Jun-18 3-Jul-18 O
30-Jun-18 3-Jul-18 O
30-Jun-18 11-Jul-18 O
30-Jun-18 3-Jul-18 O
30-Jun-18 13-Jul-18 O
30-Jun-18 11-Jul-18 O
30-Jun-18 11-Jul-18 O
Opening
S.No Business Bank
Debit
1 Foundation SBL-(0052-17)-2011267908 -
2 Foundation IIF 01-01(01520005487) 73,540,217
3 Foundation SBL 02-01(01520005493) (IIF_IU) 889,946
4 Foundation SBL-(1891-03)-01021198419 17
5 Foundation SBL-(52-15)-01021196729 323,887,943
6 Foundation SBL# (01021217230)11381-01 (IIF/IUWH) Zakat Account -
7 Foundation SBL-(0052-35)-000602011267914(IIF) 2,621,494
8 Foundation SBL-(0052-01)-02011267893 1,593,154
9 Foundation Demand Finance II -
10 Foundation SBL# 11442-01(01021217356), IUH Symposium A/c -
11 Foundation SBL# A/c # 01021199361 (2662-02)(PWF) 1,363,256
12 Foundation SBL A/c # 01520006190 (IMJ) 2,773,969
13 Foundation SBL. A/c # 1891-02 (IU-$) 34,710
14 Foundation SBL 01520024753 (NAVTTC) 1
15 Foundation 1020-0230766-0201(Bank Islami Hyd) 105,155
16 Foundation Mudarba TDR -
17 Foundation Isra Medical Symposium (SBL 01021216398) 157,249
18 Foundation SBL 01520029250 (CME - IIF) -
19 Foundation IIF-IU (Mechanical Engineering) Endowment Fund -
20 Foundation MCB 0943607671001613 (IIF Collection) -
21 Foundation Meezan (1602-010970000) -
22 Foundation 0102(2323543) (IUH) -
23 Foundation 0102(2323551) (IU) -
24 Foundation 0102(2324575) (MIS) -
25 Foundation MBL 1602-0103127930 (IFS) -
406,967,111
Opening Balance
Business Debit
26 Hospital SBL-(0052-17)-2011267908 -
27 Hospital IIF 01-01(01520005487) -
28 Hospital SBL 03-01(01520005508) IIF-IUH 10,672,174
29 Hospital SBL 04-01(01520005514) IIF-IUWH 1,305,342
30 Hospital SBL-01021583299 (IIF-IU Islamabad) -
31 Hospital SBL 01520009822-IIF(IDH) -
32 Hospital SBL-(1806-02)-01021198329 21,048
33 Hospital SBL# 11442-01(01021217356), IUH Symposium A/c 881,442
34 Hospital SBL 01520024753 (NAVTTC) -
35 Hospital MBL 1602-0103127932 (IUH) -
36 Hospital MCB 0943607671001642 -
12,880,006
Opening Balance
Business Debit
37 University SBL 02-01(01520005493) (IIF_IU) 16,324,797
38 University SBL-(1891-03)-01021198419 5,469
39 University SBL 01520009822-IIF(IDH) 510
40 University SBL-(10845-01)-01021216514 13,253
41 University SBL 01520017266 (IIF-IU CRD) 846,379
42 University SBL 02080123110 ( IIF-IUCA) 21,300,350
43 University SBL. A/c # 1891-02 (IU-$) 226,648
44 University 102002328150201 1,553,225
45 University 102002328230201 111,121
46 University IIF-IU (Mechanical Engineering) Endowment Fund -
47 University MCB 0943607671001614 (IIF Collection) -
48 University MBL 1602-0103127928 (IU) -
49 University MBL 1602-0103127906 (IU Collection) -
40,381,752
Opening Movement During the year Closing Balance
Credit Debit Credit Debit Credit
1,861,053 41,757,217 39,890,690 5,474 -
- 743,284,924 745,112,979 71,712,163 -
- - 889,946 - -
- - - 17 -
- 2,127,610,032 2,430,675,600 20,822,375 -
2,171,919 21,993,262 15,019,657 4,801,686 -
- - - 2,621,494 -
- - - 1,593,154 -
1 - - - 1
16,940 16,940 - - -
- 3,996,194 4,793,935 565,515 -
- - - 2,773,969 -
- - - 34,710 -
- - - 1 -
- - 110,037 - 4,882
- 400,000,000 100,000,000 300,000,000 -
- 238,352 395 395,206 -
1,070 27,500 24,275 2,155 -
- 25,000,000 25,000,000 - -
- 1,454,612,571 1,448,874,835 5,737,736 -
- 508,832,974 409,832,734 99,000,240 -
- 1,000 1,000 - -
- 1,000 1,000 - -
- 1,000 1,000 - -
- 500 - 500 -
4,050,983 5,327,373,466 5,220,228,082 510,066,395 4,883 510,061,512
ning Balance Movement During the year Closing Balance

196,336 196,336 - - -
382 382 - - -
- 304,887,818 314,865,314 694,678 -
- 34,269,238 35,409,245 165,335 -
- 39,550 39,550 - -
40,234 6,099,592 6,013,293 46,065 -
- 9,333,403 9,244,420 110,031 -
- 116,280 101,870 895,852 -
- 9,150 9,150 - -
- 500 - 500 -
- 220,567 46 220,521 -
236,952 355,172,816 365,682,888 2,132,983 - 2,132,983
ning Balance Movement During the year Closing Balance

- 24,985,409 41,275,205 35,001 -
- - - 5,469 -
- 150,000 150,510 - -
- 28,122,520 28,126,499 9,274 -
- - - 846,379 -
- 916,783,209 929,614,010 8,469,549 -
- 277,902 221,400 283,150 -
- - 716,504 836,721 -
- - 112,121 - 1,000
- 25,000,000 - 25,000,000 -
- 947,485,426 947,485,426 - -
- 500 - 500 -
- 62,358,935 2,000 62,356,935 -
- 2,005,163,901 1,947,703,675 97,842,978 1,000 97,841,978

Isra Islamic
CLIENT : Foundation
PERIOD : June 30, 2018
Bank
SUBJECT: Reconciliation
Summary
Balance as per Balance as per

Serial no: Bank Branch Account no: Code Difference
Ledger Bank Statement
1 SBL Main Branch Saddar 1021196729 (52-15) IIF-IU-IUH - 354,562,229 (354,562,229)

2 SBL Main Branch Saddar 1180109335 (1891-02) IIF-IU ($) - 888 (888)
3 SBL Main Branch Saddar 2080123110 3110 - 21,080,800 (21,080,800)
4 SBL Main Branch Saddar 1021216514 (10845-01) - 13,255 (13,255)
5 SBL Main Branch Saddar 1021198419 (1891-03) IIF-IU - 5,469 (5,469)
7 SBL Main Branch Saddar 1021217230 (11381-01) ZAKAT A/C - 1,276,633 (1,276,633)
8 SBL (052-47)-IIF - - -
9 SBL (052-53)-IIF - - -
10 SBL Main Branch Saddar 602011267914 (52-35) - - -
11 SBL Main Branch Saddar 2011267893 (52-01) - - -
12 SBL Main Branch Saddar 1021199361 (2662-02) PWF - 1,699,932 (1,699,932)
14 SBL Main Branch Saddar 1021198329 (1806-02) - 21,048 -
Balance as per Balance as per
Serial no: Bank Branch Account no: Code Difference
Ledger Bank Statement
- 379,941,747 (379,920,699)
16 SBL IU Branch 1520005487 (01-01) IIF - 81,675,448 (81,675,448)

17 SBL IU Branch 1520017266 (IIF-IU CRD) - 4,083,262 (4,083,262)
18 SBL IU Branch 1520005493 (02-01) IIF-IU - 16,324,798 (16,324,798)
19 SBL IU Branch 1520029250 CME-IIF - 34,196 (34,196)
20 SBL IU Branch 1520006190 (IMJ) - 2,188,656 (2,188,656)
21 SBL IU Branch 1520005508 (03-01) - 10,672,174 -
22 SBL IU Branch 1520005514 (04-01) IUWH - 1,305,342 (1,305,342)
23 SBL 1520006190 (NAVTTC) 1 - 1
24 SBL IU Branch 1520009822 (IDH) - 196,864 (196,864)
25 SBL Demand Finance II (1) - (1)
- 116,480,740 (105,808,566)
26 Bank Islami 1020-0232815-0201 - 1,869,402 (1,869,402)

27 Bank Islami 1020-0232823-0201 - 137,581 (137,581)
28 Bank Islami 1020-0230766-0201 - 107,919 (107,919)
- 2,114,902 (2,114,902)
- 498,537,389 (487,844,167)
Code Particulars Opening Debit Credit Closing
1-40-04-0018 Abdul Waheed 458,881 5,742,091 5,690,252 510,720
1-40-04-0344 Kamran Yousaf (Finance Officer) 190,176 1,135,232 1,220,168 105,240
1-40-04-0340 Habib Ahmed (Accounts) 167,500 1,375,427 1,392,927 150,000
1-40-04-0249 Salman Azam (Sales Office Lhr) 33,991 626,315 637,400 22,906
1-40-04-0221 Sarmad Hussain 139,685 485,750 500,750 124,685
1-40-04-0284 Obaid ur Razzaq 42,451 2,874,041 2,873,713 42,779
1,032,684 12,238,856 12,315,210 956,330
1-43-01-0002 Petty Cash Factory (Hattar) 13,680 348,239 286,919 75,000

1-43-01-0007 Petty Cash at City Office 4,590 326,930 333,970 (2,450)
18,270 675,169 620,889 72,550
1,050,954 12,914,025 12,936,099 1,028,880

Prepared by: Hamza Shahnawaz

Date:
W.P Ref
Bal as per
Bal as per Ledger 2017 Bal as per Ledger 2018 Closing Unpresented Uncleared Other Confirmation Confirmation Balance as per
Code Bank Name Branch Old Account # Bank Dispatch Date Difference
Opening Balance Balance Cheques Cheques Adjustments Sent? Received? confirmation
Statements
Foundation DR CR DR CR
SBL-(0052-17)-2011267908 Soneri Bank Limited main - 1,861,053 5,474 -
IIF 01-01(01520005487) Soneri Bank Limited IU 73,540,217 - 71,712,163 -
SBL 02-01(01520005493) (IIF_IU) Soneri Bank Limited IU 889,946 - - -
SBL-(1891-03)-01021198419 Soneri Bank Limited No branch 17 - 17 -
SBL-(52-15)-01021196729 Soneri Bank Limited main 323,887,943 - 20,822,375 -
SBL# (01021217230)11381-01 (IIF/IUWH) Zakat Account Soneri Bank Limited main - 2,171,919 4,801,686 -
SBL-(0052-35)-000602011267914(IIF) Soneri Bank Limited main 2,621,494 - 2,621,494 -
SBL-(0052-01)-02011267893 Soneri Bank Limited main 1,593,154 - 1,593,154 -
Demand Finance II - 1 - 1
SBL# 11442-01(01021217356), IUH Symposium A/c Soneri Bank Limited main - 16,940 - -
SBL# A/c # 01021199361 (2662-02)(PWF) Soneri Bank Limited main 1,363,256 - 565,515 -
SBL A/c # 01520006190 (IMJ) Soneri Bank Limited No branch 2,773,969 - 2,773,969 -
SBL. A/c # 1891-02 (IU-$) Soneri Bank Limited No branch 34,710 - 34,710 -
SBL 01520024753 (NAVTTC) Soneri Bank Limited No branch 1 - 1 -
1020-0230766-0201(Bank Islami Hyd) Bank Islami 105,155 - - 4,882
Mudarba TDR - - 300,000,000 -
Isra Medical Symposium (SBL 01021216398) Soneri Bank Limited Main 157,249 - 395,206 -
SBL 01520029250 (CME - IIF) Soneri Bank Limited No branch - 1,070 2,155 -
IIF-IU (Mechanical Engineering) Endowment Fund - - - -
MCB 0943607671001613 (IIF Collection) MCB Bank Limited Saddar - - 5,737,736 -
Meezan (1602-010970000) Meezan Bank Latifabad - - 99,000,240 -
0102(2323543) (IUH) - - - -
0102(2323551) (IU) - - - -
0102(2324575) (MIS) - - - -
MBL 1602-0103127930 (IFS) Meezan Bank Latifabad - - 500 -
Hospital
SBL-(0052-17)-2011267908 Soneri Bank Limited Main - 196,336 - -
IIF 01-01(01520005487) Soneri Bank Limited IU - 382 - -
SBL 03-01(01520005508) IIF-IUH Soneri Bank Limited IU 10,672,174 - 694,678 -
SBL 04-01(01520005514) IIF-IUWH Soneri Bank Limited IU 1,305,342 - 165,335 -
SBL-01021583299 (IIF-IU Islamabad) Soneri Bank Limited main - - - -
SBL 01520009822-IIF(IDH) Soneri Bank Limited IU - 40,234 46,065 -
SBL-(1806-02)-01021198329 Soneri Bank Limited Main 21,048 - 110,031 -
SBL# 11442-01(01021217356), IUH Symposium A/c Soneri Bank Limited Main 881,442 - 895,852 -
SBL 01520024753 (NAVTTC) Soneri Bank Limited No branch - - - -
MBL 1602-0103127932 (IUH) Meezan Bank Latifabad - - 500 -
MCB 0943607671001642 MCB Bank Limited Saddar - - 220,521 -
University
SBL 02-01(01520005493) (IIF_IU) Soneri Bank Limited IU 16,324,797 - 35,001 -
SBL-(1891-03)-01021198419 Soneri Bank Limited No branch 5,469 - 5,469 -
SBL 01520009822-IIF(IDH) Soneri Bank Limited IU 510 - - -
SBL-(10845-01)-01021216514 Soneri Bank Limited main 13,253 - 9,274 -
SBL 01520017266 (IIF-IU CRD) Soneri Bank Limited No branch 846,379 - 846,379 -
SBL 02080123110 ( IIF-IUCA) Soneri Bank Limited main 21,300,350 - 8,469,549 -
SBL. A/c # 1891-02 (IU-$) Soneri Bank Limited No branch 226,648 - 283,150 -
102002328150201 1,553,225 - 836,721 -
102002328230201 111,121 - - 1,000
IIF-IU (Mechanical Engineering) Endowment Fund - - 25,000,000 -
Objective
To obtain sufficient appropriate audit evicence that Bank payments are recorded in accounting period in which it is incurred.
Work Done
To obtain above stated objective we selected last 5 transactions for the period ended 30 June 2019 and first 5 transactions for period
starting from 1 July 2019 and performed following procedures:
Recorded in the correct

S.No Particulars Voucher No. Trx ID # Amount (Rs.)
accounting period
Last Five Payment vouchers

1 Cath Lab Materials 13289 Pv-179765 7,821 P
2 ICT maleria Dual Kit 13290 Pv-179768 36,000 P
3 Clinical Lab Material 13291 Pv-179770 686,487 P
4 Hard Disk SSD 240 13292 Pv-179817 1,641,358 P
5 Hard Disk SSD 240 13293 Pv-179821 8,452 P
First Five payment vouchers
1 Payment against petty cash 1 Pv-18101 100,000 P
4 Vehicle running tax 4 Pv-18107 35,000 P
5 Medical Equipment 5 Pv-18128 525,250 P
Conclusion
Based on our procedure, nothing has come to our attention that cause us to believe that bank payments are not recorded in the
correct accounting period.
Payment Vouchers
1 Cath Lab Materials 13289 Pv-179765 7,821
2 ICT maleria Dual Kit 13290 Pv-179768 36,000
3 Clinical Lab Material 13291 Pv-179770 686,487
4 Hard Disk SSD 240 13292 Pv-179817 1,641,358
5 Hard Disk SSD 240 13293 Pv-179821 8,452
1 Payment against petty cash 1 Pv-18101 100,000

4 Vehicle running tax 4 Pv-18107 35,000
5 Medical Equipment 5 Pv-18128 525,250
1 17932
2 17933
3 17934
4 17935
5 17936
1
2
3
4
5
Objective
To obtain sufficient appropriate audit evidence that bank receipts are recorded in accounting period in which it is incurred.
Work Done
To obtain above stated objective we selected last 5 transactions for the period ended 30 June 2019 and first 5 transactions for the
period starting from 1 July 2019 and performed following procedures.
Recorded in the
S.No Particulars Voucher No. Trx ID # Amount (Rs.) correct accounting
period
Last Five reciept vouchers
1 17932 Rv-0810920
2 17933 Rv-0810922
3 17934 Rv-0180923
4 17935 Rv-0180925
5 17936 Rv-0180926
First Five reciept vouchers
1 13 Rv-0018500
2 14 Rv-0018510
3 15 Rv-0181497
4 16 Rv-0018518
5 17 Rv-0018519
Conclusion
Based on our procedure, nothing has come to our attention that cause us to believe that bank receipts are not recorded in the
correct accounting period.
Prepared by: Hamza Shahnawaz

Date:
W.P Ref
Add: Bal as per

Bal as per Ledger 2017 Bal as per Ledger 2018 Closing Less: Uncleared Other Confirmation Confirmation Balance as per
Code Bank Name Bank Name Branch Old Account # Unpresented Bank Dispatch Date Difference
Opening Balance Balance Cheques Adjustments Sent? Received? confirmation
Cheques Statements
Foundation DR CR DR CR
Foundation 1020-0230766-0201(Bank Islami Hyd) Bank Islami 105,155 - - 4,882
Foundation MCB 0943607671001613 (IIF Collection) MCB Bank Limited Saddar - - 5,737,736 - 0 - - 5,737,736
Hospital MCB 0943607671001642 MCB Bank Limited Saddar - - 220,521 - 0 - - 220,521
University MCB 0943607671001614 (IIF Collection) MCB Bank Limited Saddar - - - - 0 - - -
Foundation Meezan (1602-010970000) Meezan Bank Latifabad - - 99,000,240 - 0 - - 99,000,240
Foundation MBL 1602-0103127930 (IFS) Meezan Bank Latifabad - - 500 -
Hospital MBL 1602-0103127932 (IUH) Meezan Bank Latifabad - - 500 -
University MBL 1602-0103127928 (IU) Meezan Bank Latifabad - - 500 -
University MBL 1602-0103127906 (IU Collection) Meezan Bank Latifabad - - 62,356,935 - 0 - - 62,356,935
Foundation IIF 01-01(01520005487) Soneri Bank Limited IU 73,540,217 - 71,712,163 -
Foundation SBL 02-01(01520005493) (IIF_IU) Soneri Bank Limited IU 889,946 - - -
Hospital IIF 01-01(01520005487) Soneri Bank Limited IU 17 - 17 -
Hospital SBL 03-01(01520005508) IIF-IUH Soneri Bank Limited IU 323,887,943 - 20,822,375 -
Hospital SBL 04-01(01520005514) IIF-IUWH Soneri Bank Limited IU - 2,171,919 4,801,686 -
Hospital SBL 01520009822-IIF(IDH) Soneri Bank Limited IU 2,621,494 - 2,621,494 -
University SBL 02-01(01520005493) (IIF_IU) Soneri Bank Limited IU 1,593,154 - 1,593,154 -
University SBL 01520009822-IIF(IDH) Soneri Bank Limited IU - 16,940 - -
Foundation SBL-(0052-17)-2011267908 Soneri Bank Limited main - 1,861,053 5,474 -
Foundation SBL-(52-15)-01021196729 Soneri Bank Limited main 1,363,256 - 565,515 -
Foundation SBL# (01021217230)11381-01 (IIF/IUWH) Zakat Account Soneri Bank Limited main 2,773,969 - 2,773,969 -
Foundation SBL-(0052-35)-000602011267914(IIF) Soneri Bank Limited main 34,710 - 34,710 -
Foundation SBL-(0052-01)-02011267893 Soneri Bank Limited main 1 - 1 -
Foundation SBL# 11442-01(01021217356), IUH Symposium A/c Soneri Bank Limited main 157,249 - 395,206 -
Foundation SBL# A/c # 01021199361 (2662-02)(PWF) Soneri Bank Limited main - 1,070 2,155 -
Foundation Isra Medical Symposium (SBL 01021216398) Soneri Bank Limited Main - 196,336 - -
Hospital SBL-(0052-17)-2011267908 Soneri Bank Limited Main - 382 - -
Hospital SBL-01021583299 (IIF-IU Islamabad) Soneri Bank Limited main 10,672,174 - 694,678 -
Hospital SBL-(1806-02)-01021198329 Soneri Bank Limited Main 1,305,342 - 165,335 -
Hospital SBL# 11442-01(01021217356), IUH Symposium A/c Soneri Bank Limited Main - - - -
University SBL-(10845-01)-01021216514 Soneri Bank Limited main - 40,234 46,065 -
University SBL 02080123110 ( IIF-IUCA) Soneri Bank Limited main 21,048 - 110,031 -
Foundation SBL-(1891-03)-01021198419 Soneri Bank Limited No branch 881,442 - 895,852 -
Foundation SBL A/c # 01520006190 (IMJ) Soneri Bank Limited No branch - - - -
Foundation SBL. A/c # 1891-02 (IU-$) Soneri Bank Limited No branch 16,324,797 - 35,001 -
Foundation SBL 01520024753 (NAVTTC) Soneri Bank Limited No branch 5,469 - 5,469 -
Foundation SBL 01520029250 (CME - IIF) Soneri Bank Limited No branch 510 - - -
Hospital SBL 01520024753 (NAVTTC) Soneri Bank Limited No branch 13,253 - 9,274 -
University SBL-(1891-03)-01021198419 Soneri Bank Limited No branch 846,379 - 846,379 -
University SBL 01520017266 (IIF-IU CRD) Soneri Bank Limited No branch 21,300,350 - 8,469,549 -
University SBL. A/c # 1891-02 (IU-$) Soneri Bank Limited No branch 226,648 - 283,150 -
Foundation Demand Finance II - 1 - 1
Foundation Mudarba TDR - - 300,000,000 -
Foundation IIF-IU (Mechanical Engineering) Endowment Fund - - - -
Foundation 0102(2323543) (IUH) - - - -
Foundation 0102(2323551) (IU) - - - -
Foundation 0102(2324575) (MIS) - - - -
Hospital 4,287,935### 584,205,634 4,883
University
Client Isra Islamic Foundation Gurantee Limited

Period 30-Jun-19 Prepared by: Ghafeer Ahmed Khan
Subject Confirmation control sheet Date:
W.P Ref
Objective :
Bank Statement Account opened/ Balance as per ledger Balance as per ledger Unpresented Uncleared Other Bal as per Bank Confirmation Confirmation Balance as per
Code Bank name Branch Account # Dispatch Date Difference
provided? (Closed) during the year 2017 2018 Cheques Cheques Adjustments Statements Sent? Received? confirmation
Foundation
SBL-(0052-17)-2011267908 Soneri Bank Limited Main Branch 67908 Provided - (1,861,053) 5,474 - - - 5,474 yes 2-Oct-18 no -
IIF 01-01(01520005487) Soneri Bank Limited Isra University 5487 Provided - 73,540,217 71,712,162 50,134,314 - - 121,846,476 yes 2-Oct-18 no - 121,846,476
SBL 02-01(01520005493) (IIF_IU) Soneri Bank Limited Isra University 5493 Provided - 889,946 - - - - - yes 2-Oct-18 no -
Dormant SBL-(1891-03)-01021198419 Soneri Bank Limited Main Branch 8419 Not provided - 17 17 - - - 17 yes 2-Oct-18 no -
SBL-(52-15)-01021196729 Soneri Bank Limited Main Branch 6729 Provided - 323,887,943 20,822,375 84,759,121 - - 105,581,496 yes 2-Oct-18 no - 105,581,496
SBL# (01021217230)11381-01 (IIF/IUWH) Zakat
Soneri Bank Limited Main Branch 7230 Provided - (2,171,919) 4,801,686 337,307 - - 5,138,993 yes 2-Oct-18 no - 5,138,993
Account
Wrongly Opened SBL-(0052-35)-000602011267914(IIF) Soneri Bank Limited Main Branch 7914 Not provided - 2,621,494 2,621,494 - - - 2,621,494 yes 2-Oct-18 no -
No Movement SBL-(0052-01)-02011267893 Soneri Bank Limited Main Branch 7893 Not provided - 1,593,154 1,593,154 - - - 1,593,154 yes 2-Oct-18 no -
SBL# 11442-01(01021217356), IUH Symposium A/c Soneri Bank Limited Main Branch 7356 Not provided - (16,940) - - - - - yes 2-Oct-18 no -
SBL# A/c # 01021199361 (2662-02)(PWF) Soneri Bank Limited Main Branch 9361 Provided - 1,363,256 565,515 45,495 - - 611,010 yes 2-Oct-18 no - 611,010
Islamabad Account SBL A/c # 01520006190 (IMJ) Soneri Bank Limited Isra University 6190 Not provided - 2,773,969 2,773,969 - - - 2,773,969 yes 2-Oct-18 no - 2,773,969
Dollar account SBL. A/c # 1891-02 (IU-$) Soneri Bank Limited Main Branch 1891-02 Not provided - 34,710 34,710 - - - 34,710 yes 2-Oct-18 no -
Closed (Bank Closure

1020-0230766-0201(Bank Islami Hyd) Bank Islami 0201 Not provided (4,882) - (4,882) No no -
letter not provided)
Closed 105,155 - -
Mudarba TDR - - 300,000,000 - - - 300,000,000 no -
Isra Medical Symposium (SBL 01021216398) Soneri Bank Limited Main Branch 6398 Provided - 157,249 395,206 - - - 395,206 yes 2-Oct-18 no - 395,206
SBL 01520029250 (CME - IIF) Soneri Bank Limited 9250 - (1,070) 2,155 - - - 2,155 no -
Opened during the year
MCB 0943607671001613 (IIF Collection) MCB Bank Limited Saddar Provided (Board minutes not 5,737,736 5,737,736 yes 2-Oct-18 no - 5,737,736
1613 provided) - - - -
Meezan (1602-010970000) Meezan Bank Provided (Board minutes not 99,000,240 99,000,240 yes 2-Oct-18 no - 99,000,240
Latifabad 97000 provided) - - - -
0102(2323543) (IUH) Soneri Bank Limited Main Branch 3543 Provided - - - - - - yes 2-Oct-18 no - -
0102(2323551) (IU) Soneri Bank Limited Main Branch 3551 Provided Closed (Bank Closure - - - - - - yes 2-Oct-18 no - -
0102(2324575) (MIS) Soneri Bank Limited Main Branch 24575 Provided letter not provided) - - - - - - yes 2-Oct-18 no - -
MBL 1602-0103127930 (IFS) (Board minutes not 500 - - - 500 yes 2-Oct-18 no - 500
Operations started after the year Meezan Bank Latifabad 7930 Not provided provided) -
402,916,128 510,061,511 135,276,237 - - 645,337,748 645,337,748

Hospital
SBL-(0052-17)-2011267908 Soneri Bank Limited Main Branch 7908 Provided - (196,336) - - - - - yes 2-Oct-18 -
IIF 01-01(01520005487) Soneri Bank Limited Isra University 5487 Provided - (382) - - - - - yes 2-Oct-18 -
SBL 03-01(01520005508) IIF-IUH Soneri Bank Limited Isra University 5508 Provided - 10,672,174 694,678 - (315,738) - 378,940 yes 2-Oct-18 no - 378,940
SBL 04-01(01520005514) IIF-IUWH Soneri Bank Limited Isra University 5514 Provided - 1,305,342 165,335 - - - 165,335 yes 2-Oct-18 no - 165,335
SBL-01021583299 (IIF-IU Islamabad) Soneri Bank Limited Main Branch 3299 Not provided - - - - - - - yes 2-Oct-18 -
SBL 01520009822-IIF(IDH) Soneri Bank Limited Isra University 9822 Provided - (40,234) 46,065 - - - 46,065 yes 2-Oct-18 no - 46,065
SBL-(1806-02)-01021198329 Soneri Bank Limited Main Branch 8329 Provided - 21,048 110,031 - - - 110,031 yes 2-Oct-18 no - 110,031
SBL# 11442-01(01021217356), IUH Symposium A/c Soneri Bank Limited Main Branch 7356 Provided - 881,442 895,852 - - - 895,852 yes 2-Oct-18 no - 895,852
MBL 1602-0103127932 (IUH) (Board minutes not - 500 - - - 500 yes 2-Oct-18 -
Operations started after the year Meezan Bank Latifabad 7932 Not provided provided)
MCB 0943607671001642 MCB Bank Limited Saddar Provided (Board minutes not - 220,521 - - - 220,521 yes 2-Oct-18 no - 220,521
1642 provided)
12,643,055 2,132,983 - (315,738) - 1,817,245 1,816,745

University
SBL 02-01(01520005493) (IIF_IU) Soneri Bank Limited Isra University 5493 Provided - 16,324,797 35,001 - - - 35,001 yes 2-Oct-18 no - 35,001
Duplication SBL-(1891-03)-01021198419 Soneri Bank Limited Main Branch 8419 Not provided - 5,469 5,469 - - - 5,469 yes 2-Oct-18 -
No detail provided SBL 01520009822-IIF(IDH) Soneri Bank Limited Isra University 9822 Not provided - 510 - - - - - yes 2-Oct-18 -
SBL-(10845-01)-01021216514 Soneri Bank Limited Main Branch 6514 Provided - 13,253 9,274 - - - 9,274 yes 2-Oct-18 no - 9,274
No detail provided SBL 01520017266 (IIF-IU CRD) Soneri Bank Limited 7266 Not provided - 846,379 846,379 - - - 846,379 yes -
SBL 02080123110 ( IIF-IUCA) Soneri Bank Limited Main Branch 3110 Provided - 21,300,350 8,469,549 - - - 8,469,549 yes 2-Oct-18 no - 8,469,549
Dolllar / Duplication SBL. A/c # 1891-02 (IU-$) Soneri Bank Limited Main Branch 189102 Not provided - 226,648 283,150 - - - 283,150 yes 2-Oct-18 -
102002328150201 - 1,553,225 836,721 - - - 836,721 -
102002328230201 - 111,121 - - - - - -
IIF-IU (Mechanical Engineering) Endowment Fund - - 25,000,000 - - - 25,000,000 -
Client: Isra Islamic Foundation Gurantee Limited

Period: 'June 30, 2019
Subject : System Understanding Cash in Hand - Payment
System Understanding
Control And Procedures
1 The custodian of petty cash is Muneer Kazi who hold the amount upto Rs 200,000
2 Supporting document (Invoice,Bill etc) is received by the Accounts Department from the
supplier.
Control Activity
a Payment against Invoice/Bill is authorised by Additional Director (Iqbal Kazi) and Director
Finance (Ghulam Rasool Kazi)
3 Debit voucher is made at the time of payment and payment is made to the realised person
Control Activity
a Receiver's signature is obtained on the debit voucher
4 After payment journal voucher is made by the senior accounts officer (Hidayatullah) to record
the payment against related expense
Control Activity
a Journal voucher is signed by Deputy Director (Barkat Jokio) approved by Additional Director
(Iqbal Kazi) reviewed by Director Audit (Abdul Aziz Kazi) and authorised by Director Finance
(Ghulam Rasool)
Client: Isra Islamic Foundation Gurantee Limited

Period: 'June 30, 2019
Subject : Walkthrough Cash in Hand - Payment
Party Name Al-Ibrahim Eye Hospital

Nature of Expense General consumable items for eye camp
Invoice date 3-Oct-17
Invoice amount 5,800
Journal voucher # 3919
Journal voucher Date 27-Oct-17
Work done
The above transaction is selected relating to bank payments and the following controls has been
identfied :
1 Supporting document (Invoice) was received from the supplier.
2 Payment against invoice was authorised by Additional Director (Iqbal Kazi) and Director
Finance (Ghulam Rasool Kazi)
3 Receiver's signature was obtained on the debit voucher made at the time of payment.
Journal voucher was prepared by senior account officer (Hidayatullah) signed by Deputy
4 Director (Barkat Jokio) approved by Additional Director (Iqbal Kazi) reviewed by Director Audit
(Abdul Aziz Kazi) and authorised by Director Finance (Ghulam Rasool)
Objective:
To obtain sufficient, appropriate audit evidence that whether controls are operating effectively over cash payment
Basis of Sampling:
We have selected 40 transactions for the purpose of testing controls
Test of Controls:
TOC 1 Checked whether supporting document (Invoice/Bill) is received from supplier
TOC 2 Checked whether payment against invoice is authorised by Additional Director (Iqbal Kazi) and Director Finance (Ghulam Rasool Kazi).
TOC 3 Checked whether payment is made to the authorised person and receiver's signature is obtained on the debit voucher
TOC 4 Checked whether Journal voucher made to record the payment is approved by Director Finance (Ghulam Rasool Kazi)
S.No Voucher No Description Receiver Date
Islamabad Campus
1 JV-142248 Paid against Motor vehicle tax of Vehicle# AWM-737 (HPA deleted from Shafqat Ali 4-Oct-17
Soneri Bank)
Al-Tibri Medical College & Hospital
2 JV-143717 Paid against Motor vehicle tax from Jan-2017 upto Jun-2018 for Vehicle# Shafqat Ali 13-Oct-17
BEU-833,834 &637
3 JV-140488 Paid against Mobile bill of Director for the month of july-2017 Moblink House Hyd 20-Sep-17
L/C # 40020006001198
Paid against stamp paper & commission charges regarding clearance of Khalil Ahmed (Peon
4 JV-166660 21-Mar-18
goods from Custom against L/c # 40020006001198 Finance Department)
5 JV-140485 Paid against Mobile bill of Director for the month of july-2017 Zong CSC , Hyd 20-Sep-17
Al-Tibri Medical College & Hospital

6 JV-142214 Paid against fuel charges of Al-tibri Vehicles# BKH-264 & BKH-253 on 3-Oct-17
12.09.2017
7 JV-145891 Paid against Mobile bill of Director for the month of September-2017 Zong CSC , Hyd 30-Oct-17
8 JV-143634 Paid against Online bank charges dt 26.09.2017 MCB bank limited 13-Oct-17
9 JV-143635 Paid against Online bank charges dt 26.09.2017 HBL Bank 13-Oct-17
10 JV-153442 Paid against Mobile bill of Directors Zong CSC , Hyd 19-Dec-17
Paid against POL/CNG charges (2030+2780+2400+2030+2000) during

11 JV-141094 the month Transport Department 25-Sep-17
12 JV-148453 Paid against POL/CNG charges (3670+5480) during the month Transport Department 18-Nov-17
13 JV-148426 Paid against repaiir & maintenance charges 18-Nov-17
14 JV-153530 Paid against Isra lab professional tax regarding year-2017 to 2018 Shafqat Ali 20-Dec-17
15 JV-154703 Paid against Newspaper bill for the month of november-2017 1-Jan-18
16 JV-180307 Paid against POL/CNG during month of June-2018 Transport Department 30-Jun-18
Paid against account opening charges vide Deposit slip#2779422
17 JV-176361 dt:19.04.2018 Meezan Bank 4-Jun-18
isra hospital
18 JV-140483 Paid against Newspaper bill for the month of july-2017 20-Sep-17
Midway Optical
19 JV-145693 Paid against general consumable Material for eye camp @ Pak Turk isra 27-Oct-17
school on 03.10.2017
20 JV-143059 Paid against POL/CNG charges (4960+4240) during the month Transport Department 10-Oct-17
21 JV-178054 Paid against POL/CNG Charges during the month Transport Department 21-Jun-18
22 JV-167159 Paid against POL/CNG charges during the month Transport Department 26-Mar-18
Paid against conveyance charges to A.Mugni for collecting documents

23 JV-167182 Mr.A Mugni 26-Mar-18
from legal advisor on 09.03.2018, 15.03.2018 & 16.03.2018
Paid advance against lunch for One day Seminar on "Thar Coal: A
24 JV-140763 Potential Energy Solution of Pakistan" Dr. Zahid channa 22-Sep-17
Paid against entertainment expenses served to the parents of students in

25 JV-141252 Isra Canteen Hyd 26-Sep-17
MBBS Faculty & faculty members during month of July & August-2017
Muhammad Hussain
26 JV-141133 Paid against Advance for curtain accessories for PVC Finance Office 25-Sep-17
Bhatti
27 JV-169894 Paid against Lunch charges (250+250) during visit at karachi Mairaj Driver 16-Apr-18
28 JV-165362 Paid against POL/CNG charges during the month Transport Department 14-Mar-18
29 JV-165544 Paid against repair of DVR for software A.A communication 15-Mar-18
Paid against Allowance & overtime to Mr. M Hussain Bhatti for duty on
30 JV-139902 sunday 8:AM to 7:PM due to labour working at PVC(F) Office on Mr. M Hussain 16-Sep-17
17.07.2017
31 JV-153439 Paid against News paper bill for the month of October-2017 19-Dec-17
Paid against rent a car charges to Prof:Azmi, Prof:Asghar Mughal and
Prof: Latif from Karachi to Hyderabad and back to Karachi for Prof:Azmi ,Prof:Mughal
32 JV-153546 20-Dec-17
conducting Viva examination and fisrt seminar on 18.11.2017 and Prof:Latif
Paid against stamp papers & Commission charges during the month of
33 JV-161037 January-2018 Shafqat Ali 12-Feb-18
Paid against Mobile bill to MR. Shafqat junejo for the month of February-
34 JV-165788 2018 Mr. Shafqat Junejo 16-Mar-18
Paid against conveyance charges to A.Mugni for collecting documents

35 JV-154430 from legal advisor during month of November -2017 and Payment of A.Mugni 29-Dec-17
internet bill
Paid against POL/CNG Charges during the month and Repair &
36 JV-176040 Maintenance charges Transport Department 31-May-18
37 JV-141695 Paid against P .o # 25101, dt:29.08.2017, itm: compressor belt Mohsin Ali & Sons 28-Sep-17
Paid against travelling & allowance on attending One Day ession on
38 JV-141113 "Issues/difficulties in uploading University Degree Programs on HEC Mr. M. Murad Memon 25-Sep-17
website" held on 14.07.2017 at regional center Karachi
Paid against stamp papers & Commission and attested advocated charges
39 JV-143644 during the month of September-2017 Shafqat Ali 13-Oct-17
Paid against internet bill and postage charges for 70-Ordinary letters of IU
40 JV-158117 & Registry charges Gumnet 22-Jan-18
ool Kazi).
Amount TOC 1 TOC 2 TOC 3 TOC 4
2,000 P P P P
7,700 P P P P
9,000 P P P P
200 P P P P
9,000 P P P P
2,000 P P P P
9,000 P P P P
880 P P P P
418 P P P P
20,000 P P P P
11,240 P P P P
9,150 P P P P
17,810 P P P P
3,010 P P P P
1,750 P P P P
10,000 P P P P
500 P P P P
1,805 P P P P
5,800 P P P P
9,200 P P P P
28,396 P P P P
3,400 P P P P
600 P P P P
9,400 P P P P
1,275 P P P P
2,000 P P P P
500 P P P P
29,621 P P P P
2,500 P P P P
2,740 P P P P
24,380 P P P P
5,000 P P P P
240 P P P P
1,200 P P P P
7,730 P P P P
12,500 P P P P
1,000 P P P P
800 P P P P
1,660 P P P P
10,870 P P P P
S.No Name of Banks Branch Branch Code Account Type
1 Soneri Bank ltd. Saddar 0006
2 Soneri Bank ltd. Hala Naka 0078
8 Demand Finance
11 1891-02
13 Bank Islami Not Found
14 Not Found Not Found
17 MCB Saddar 1660
18 Meezan Bank Latifabad 7 1602
Old Account # New Account # Balance as per Bank Ledger Balance as per Bank Statement
0006 0201126 7908 00006 2000114 9537 2003782.54
00078 0152000 5487 05003 3000000 9616 1201058.27
0006 0102119 8419 00006 2000076 5415 17
0006 0102119 6729 00006 2000001 4088 1075272.01
0006 0102121 7230 00006 2000003 2701 6648647
0006 0201126 7914 00006 2000108 4683 2621494
0006 0201126 7893 00006 2000059 5943 1593154
-1
0006 0102119 9361 00006 2000091 9037 4799535.44
00078 0152000 6190 05003 3000000 9648 2773969
34710
00078 152002 4753 05003 3000025 1198 0.73
1020-0230766-0201 -4882
Mudarba TDR 300,000,000.00
0006 0102121 6398 00006 2000029 2697 418541.41
00078 152002 9250 05003 3000025 1255 2655
MCB 0943607671001613 0
001602 0102970000 001602 0102970000 0
001602 0103127928 001602 0103127928 0
001602 0103127932 001602 0103127932 0
001602 0103127930 001602 0103127930 500
001602 0103610527 001602 0103610527 10496283
001602 0102970000 001602 0102970000 19082800
Confirmation Circulation Date Confirmation Receipt Date Reminder 1 Reminder 2
Reminder 3 Balance Confirmed b Difference
Date Payment Voucher # Date Payment Voucher #
3-Aug-17 1 26-Mar-18 9626
10-Aug-17 467 5-Apr-18 10040
21-Aug-17 911 16-Apr-18 10449
9-Sep-17 1694 27-Apr-18 10943
19-Sep-17 1997 10-May-18 11416
28-Sep-17 2341 17-May-18 11765
2-Oct-17 2492 26-May-18 12050
12-Oct-17 2889 4-Jun-18 12330
21-Oct-17 3291 12-Jun-18 12721
3-Nov-17 3644 20-Jun-18 12851
9-Nov-17 3798 19-Jun-18 12795
24-Nov-17 4454 19-Jun-18 12785
9-Dec-17 5240 25-Jun-18 12998
11-Dec-17 5296 27-Jun-18 13121
15-Dec-17 5508
4-Jan-18 6119
8-Jan-18 6273
17-Jan-18 6689
1-Feb-18 7449
15-Feb-18 7956
27-Feb-18 8508
10-Mar-18 8907
14-Mar-18 9049
ayment Voucher #

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Rahman Sarfaraz Rahim Iqbal Rafiq

Client: Isra Islamic Foundation Prepared by:

Description W.P. Ref. June 30, 2019

Audit Programme Ref. _____________________________

June 30, 2018

Client: Isra Islamic Foundation Prepared by: Ghafeer Ahmed Khan

Description W.P. Ref. June 30, 2019 June 30, 2018

Description W.P. Ref. June 30, 2018 June 30, 2017

Foundation 510,061,512 402,916,128

Description June 30, 2019 June 30, 2018

(i) Cash and bank balances

Client: Isra Islamic Foundation

in SBL main branch saddar

All cash and bank balances recorded

All cash and bank balances are

Assess the reasonableness of design of system of

Check on sample of selected transactions covering

Check on a sample of transactions that

Proper segregation of duties between custodian and

Payments vouchers are appropriately prepared and

Ensure that management does not override the

Document the conclusion after performing test of

Attend year-end cash count and deposit

Circularize direct confirmations to all

Trace opening balance in general ledger

Ensure that all balances etc. reported by

Ensure that all bank accounts are in

Ensure that closing balances as per our

Determine that disclosures have been

1-43-02-0041 Askari Haripur A/c # 1650500669 -

1-43-02-0057 Askari Bank A/C # 0400100594932 1,000

1-43-02-0053 MCB--A/c # (0594-1466-4100-0686) -

1-43-02-0052 HBL SITE Karachi 0947-79005137-03 -

1-43-02-0040 HBL-ADVANTAGE A/C SITE -

1-43-02-0033 JS Bank Ltd. KHI -

1-43-02-0016 Bank of Khyber A/c # 00051-00-00-4 Err:509

1-43-02-0024 Faysal Bank Ltd Err:509

1-43-02-0037 National Bank Err:509

1-43-02-0035 ABL clifton Corporate -

1-43-02-0048 Al-Baraka Bank-(0536-00-00-03719) Err:509

1-43-02-0049 MCB--A/C # (0594-1466-4100-2829) Err:509

14305 PBL Devidend A/c Err:509

14305 ACBL Dividend A/c # 3176-7 Err:509

Total Cash at Bank Err:509

Cash in Hand 1,028,880

S.no Name Designation

t for a particular expense.

nts Officer) makes a JV and a PV, which are

ned at the Accounts Department for the

Details relating selected transaction

Party Name Nizam Energy (Pvt) Ltd.

4 The cheque is sent to stock and stores for supplier delivery.

Details relating selected transaction

Party Name Saify Trading Corporation

2 The voucher was sequentially numbered and was system generated.

SYSTEM NOTE:University RECIEPT

Details relating selected transaction

Name of Customer Students

wed and authorised by Deputy Director