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Internship is a part of the graduate degree in business Accounts and Administration in any higher institution of learning. Internship has merged the theoretical and practical knowledge which is important in our future life. For developing the practical knowledge in the field of accounting and finance, one has to do internship. As most educational system in developing economies are predominantly text based, inclusion of practical orientation program in such an academic component is an exception to the norm as students substantially benefit from such a program. The purpose of this internship paper is therefore, to elaborate the role of financial management in NGOs. Data on financial management of TASO-Gulu indicates few parameters on which deliberation of judgment can be done. NGO sector is recently criticized on questions regarding accountability to the governments and civil society. From the financial point of view, it is very difficult to be a hundred percent efficient in the execution of projects. But auditors have a significant role for judging the accountability of the development works operated by NGOs. Both organizations have to be accountable regardless of their goals.