International Aid Campaign starts publishing audit reports

International Aid Campaign (IAC), a humanitarian organisation founded by a group of Maldives, has started publishing its audit reports.

The organisation's Director of Media and Public Relations Azhad Ahmed said the reports for 2021 and 2022 have been published on their website along with the respective annual reports.

The organisation, which is mainly funded by public donations, went under public scrutiny over their lack of financial transparency. Many raised concerns online highlighting that IAC had not published their audit reports in several years.

The issue first came to light following a campaign to provide aid for displaced Palestinians following after October 7.

The campaign at the time, received large donations from the government, private companies and the public. However, with mounting complaints regarding the unavailability of IAC's audit reports, the organisation said they would publish the reports soon. However, the reports took a long time since then.

Azhad said the 2023 reports will also be released this month.

According to the reports published so far, IAC received more than MVR 31.4 million in 2021 and more than MVR 20.4 million in 2022. The report also details how the money was spent.

IAC was initially awarded the audit to a local audit firm. However, they switched to international audit firm, Ernst & Young (EY).

According to local news reports, audits conducted must be sent to the company's office in Sri Lanka and approved by the board there. Azhad attributed the delays in publishing IAC's audit reports to this.

Azhad also told Mihaaru last week that he believes that not publishing the audit reports makes the organisation's management vulnerable to accusations of misappropriating the organisation's funds. However, said they provide details of how funds were spent when donors request.