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External AuditOverview MFI Consulting will help your microfinance organization develop clear expectations for an external audit and then help you select an appropriate audit firm. I will help you prepare and manage the process so it is a highly beneficial. The education, training and delivery of institution specific materials you receive will create long-term value for your organization. Why contract an external audit? Contracting an external audit will demonstrate your commitment to institutional transparency. A qualified external audit will demonstrate confidence in your financial reporting and prove your financial statements are materially correct. Donors are under increasing pressure to report back to funding sources the use of that funding. External audits are a credible way to provide that information. As MFIs move toward more commercial and private funding, a track record of external audits will be required to receive additional funding. Don’t let your MFI lose funding options by not having an established track record of external audits. A good external audit will improve efficiency, enhance internal controls, and provide a psychological deterrent to employee theft and fraud. Why Involve MFI Consulting? With 6 years’ experience as a CPA Auditor and 8 years experience with MFIs, I can ensure that you have the information to obtain a quality external audit. I fully understand the issues MFIs face in making loans and recovering those loans. I also understand the process of performing an external audit. I can be an effective liaison between MFI and auditor. I will teach you how an internal control letter can improve efficiency and make sure you understand how to make this process truly beneficial for your MFI. Experience Workshops: Presentations: BID – Moderator: CGAP Audit Information Centre (4/2001 – present) 6 years public accounting experience prior to entering the MFI industry For Industry Strengthening Projects External Audit Consulting delivers workshops to External Auditors. The workshops explore differences between typical banking or non-profit audits, and MFI audits. Differences in interest accounting, an overview of statistical sampling methods, review of a sample portfolio work program and discussion on MFI audit resources are presented as part of a one or two-day workshop. |