Twenty-three participants from seven different organizations participated in Risk Management, Internal Control and Audit course under the Ateneo-SEDPI Microfinance Capacity Building Program from August 2 to 4, 2012. This is the third course run in 2012 with Quezon City–based training hub partner, Kasagana-Ka Development Center, Inc. (KDCI).
Bank regulators from Bank Indonesia and Cambodia’s Ministry of Finance attended the training to gain knowledge on methodologies employed by other countries in supervising microfinance institutions (MFIs), and assessing and managing MFI risks. Other participants came from MFIs all over the Philippines. They represented organizations such as KDCI, 1st Macro Bank, Inter-Asia Development Bank, Lingap Pangkabataan, and Tulong Kalinga Foundation Incorporated.
This risk management, internal control and audit course provided guidelines for establishing operational activities that assist the MFIs in identifying vulnerabilities, designing and implementing controls and monitoring the effectiveness of controls. Special emphasis was given to problem prevention, early problem identification and control. In one of the workshops, participants shared usual microfinance internal audit findings. They then recommended internal controls to counter these risks.
The course also highlighted problem resolution and installation of proper information systems as means for risk management and internal control. The course also provided in-depth discussions on how internal and external audits are conducted, and how they could be used to the advantage of an MFI.
Participants consistently rated the trainers and training topics excellent. One participant commented that “Learning is fun with [Ateneo-SEDPI]!” Trainers include Ateneo de Manila University’s lecturers and SEDPI’s top management, Vincent Rapisura, Edwin Salonga, and Emilenn Kate Sacdalan, and SEDPI Program Officers, Florence Adviento, Enid Madarcos, and Denise Subido.