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Audit & Assurance

Gratuity Fund Audit in Bangladesh

A gratuity fund provides a single lump-sum payment made by an organisation to an employee at the time of retirement or separation. FM Consulting International audits these reserves to confirm that the obligations recorded are consistent with the organisation's assertions and that the fund is being measured and managed soundly. Gratuity arrangements in Bangladesh sit within the framework of the Labour Act and income tax regulations.

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What our audit examines

We assess whether gratuity obligations are aligned with the supporting actuarial estimates. This means considering changes in the size of the workforce, the years of service used in the calculations, and shifts in the key assumptions such as discount rates and expected compensation growth. We also review experience gains and losses and check that cost components are treated consistently from one year to the next.

Our methodology

FMCI's procedures focus on judging whether the general obligation estimations are reasonable and whether the valuation assumptions, taken together, present a fair and accurate view of the fund's position. The service is most relevant to organisations that maintain gratuity reserves through a board of trustees and a separate fund account.