Audit and accounting practices are designed to keep a clear record of all financial transactions, information systems, and operations; they are essential for financial institutions of all sizes. Internal and external audits ensure that practices are applied appropriately, are transparent, and monitor all areas of the business. As microfinance institutions grow in size and complexity, so too does the need for strong control systems to manage operational risk.
Audit and accounting practices are designed to protect both financial institutions and their clients against fraud or other improper accounting. These practices also reassure investors and governments that a financial institution is operating under sound principles. Innovation, new technology, and competition are constantly changing the nature of the financial services industry so institutions must keep pace by making continuous improvements to their systems and operations. With sound audit and accounting practices in place, management, governing boards, investors, and government supervisors can effectively monitor and manage their risk-related responsibilities.
What can you find in this Topic Hub?
Curated by FinDev editors, this Topic Hub offers you access to key resources contributed by organizations around the world who work on the topic of microfinance audit and accounting practices. Our latest blogs and publications on this topic are featured here (in the Resources Tab above), and you can find a collection of papers, case studies and guides to explore further. When there are upcoming webinars, events and recent news on this topic, they will be featured in the Topic Hub as well, so make sure to come back regularly for the latest on this topic. Finally, we’ve selected some key additional resources, which are listed on the right here, where you can learn even more about this topic.
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