Audit and Compliance in Microfinance Training Course

Introduction

The Audit and Compliance in Microfinance Training Course is designed to strengthen the capacity of professionals in ensuring transparency, accountability, and sound governance in microfinance institutions. Effective audit and compliance systems not only build trust among stakeholders but also safeguard institutional sustainability by minimizing risks and enhancing financial integrity. This course provides participants with practical knowledge and skills to design, implement, and monitor strong audit and compliance frameworks.

Participants will gain insights into internal controls, risk assessment, compliance monitoring, fraud detection, and regulatory requirements specific to microfinance operations. Through case studies, simulations, and best practices, the program equips learners with the ability to conduct effective audits, ensure adherence to legal standards, and enhance institutional resilience. By the end of the training, participants will be prepared to play a key role in strengthening governance and ensuring operational sustainability.

Duration: 10 Days

Target Audience:

  • Internal and external auditors
  • Compliance officers and managers
  • Finance managers and officers in microfinance institutions
  • Risk management professionals
  • Chief financial officers and senior executives
  • Operations and branch managers
  • Consultants and advisors in microfinance
  • Development finance practitioners
  • Policy makers and regulators
  • Researchers and academicians in finance and audit

Course Objectives:

  1. Understand the principles of audit and compliance in microfinance
  2. Develop effective internal control systems
  3. Conduct risk-based internal audits
  4. Ensure compliance with regulatory and legal frameworks
  5. Detect and prevent fraud in microfinance operations
  6. Strengthen governance through audit and compliance practices
  7. Apply international audit and compliance standards
  8. Use audit tools for performance and efficiency improvement
  9. Integrate compliance into organizational culture
  10. Build sustainable audit and compliance frameworks

Course Modules:

Module 1: Introduction to Audit and Compliance in Microfinance

  • Importance of audit and compliance
  • Role in sustainability and governance
  • Distinguishing between audit and compliance functions
  • Key challenges in microfinance audit
  • Stakeholder expectations

Module 2: Internal Control Systems

  • Components of effective internal controls
  • Designing control frameworks
  • Monitoring and evaluation of controls
  • Role of management in internal control
  • Identifying control weaknesses

Module 3: Risk-Based Audit in Microfinance

  • Fundamentals of risk-based auditing
  • Identifying and assessing risks
  • Audit planning and prioritization
  • Risk mitigation through audits
  • Practical examples of risk-based audit

Module 4: Regulatory and Legal Compliance

  • Overview of regulatory requirements
  • Capital adequacy and reporting standards
  • Anti-money laundering (AML) compliance
  • Consumer protection laws
  • Consequences of non-compliance

Module 5: Fraud Detection and Prevention

  • Common fraud schemes in microfinance
  • Fraud risk assessment methods
  • Internal audit role in fraud detection
  • Investigating and reporting fraud
  • Building a fraud-resistant culture

Module 6: Internal vs External Audit

  • Key differences and complementarities
  • Roles of internal and external auditors
  • Coordination between functions
  • Reporting structures and responsibilities
  • Best practices in audit collaboration

Module 7: Audit Methodologies and Tools

  • Audit planning techniques
  • Sampling methods in audits
  • Use of checklists and templates
  • Data analysis in auditing
  • Technology-enabled audit tools

Module 8: Compliance Monitoring Systems

  • Building compliance frameworks
  • Monitoring adherence to policies
  • Compliance reporting mechanisms
  • Corrective action procedures
  • Continuous improvement in compliance

Module 9: Performance and Efficiency Audits

  • Linking audit to performance management
  • Operational audits in microfinance
  • Cost efficiency assessments
  • Measuring effectiveness of programs
  • Recommendations for improvement

Module 10: Governance and Audit Oversight

  • Board’s role in audit and compliance
  • Audit committees and their functions
  • Management accountability structures
  • Transparency in audit reporting
  • Strengthening governance frameworks

Module 11: International Audit and Compliance Standards

  • International Financial Reporting Standards (IFRS)
  • International Standards on Auditing (ISA)
  • Basel guidelines relevance to MFIs
  • Best practices from global institutions
  • Application in microfinance sector

Module 12: Technology in Audit and Compliance

  • Digital audit tools and platforms
  • Automating compliance checks
  • Data analytics in auditing
  • Cybersecurity considerations
  • Enhancing audit efficiency with technology

Module 13: Ethics in Audit and Compliance

  • Ethical principles for auditors
  • Independence and objectivity
  • Dealing with conflicts of interest
  • Confidentiality and professional conduct
  • Promoting ethical organizational culture

Module 14: Reporting and Communication in Audit

  • Writing effective audit reports
  • Communicating findings to stakeholders
  • Presentation skills for auditors
  • Handling resistance to audit recommendations
  • Ensuring implementation of recommendations

CERTIFICATION

  • Upon successful completion of this training, participants will be issued with Macskills Training and Development Institute Certificate

TRAINING VENUE

  • Training will be held at Macskills Training Centre. We also tailor make the training upon request at different locations across the world.

AIRPORT PICK UP AND ACCOMMODATION

  • Airport Pick Up is provided by the institute. Accommodation is arranged upon request

TERMS OF PAYMENT

Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent to info@macskillsdevelopment.com

For More Details call: +254-114-087-180

 

 

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