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BRACLIBERIA MANAGEMENT REPORT For the year ended December 31, 2010
The Organisation’s Management presents their reports and the audited financial statements of BRAC Liberia for the period ended 31st December 2010. Management’s Responsibility Statement Management is responsible for the preparation and fair presentation of the financial statements comprising, the Statement of financial position as at 31st December, 2010, the statements of receipts and expenditure the cash flow statement for the period then ended, and the notes to the financial statements. The notes to the financial statements include a summary of significant accounting policies and other explanatory notes, in accordance with International Financial Reporting Standards (IFRS) and in the manner required by the provisions of the grant agreement. The Management’s responsibility includes: designing, implementing and maintaining internal controls relevant to the preparation and fair presentation of these financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. The Management’s responsibility also includes maintaining adequate accounting records and an effective system of risk management. Going Concern The Management has made an assessment of the Organization’s ability to continue as a going concern and have no reason to believe the project will not be a going concern in the years ahead. Results The result for the period and the state of the project affairs are set out in the attached financial statements.