The risk management, internal control and audit course aims to help microfinance institutions identify the different kinds of risks they are facing in the organization. The course provides guidelines for establishing operational activities that assist the MFI in identifying vulnerabilities, designing and implementing controls and monitoring the effectiveness of controls. Special emphasis is given to problem prevention, early problem identification and control. The course also highlights problem resolution and installation of proper information systems as a means for risk management and internal control. The course also provides in-depth discussions on how internal and external audits are conducted, and how they could be used to the advantage of an MFI. At the end of the course, it is hoped that participants could develop strategies and programs for improving the quality of their risk management processes.