Training Course on Audit of Banks and Microfinance Institutions

Course Overview
Auditing financial institutions—especially banks, Savings and Credit Cooperatives (SACCOs), and Microfinance Institutions (MFIs)—requires specialized knowledge of financial sector regulations, risk-based auditing techniques, and industry-specific standards. With increasing regulatory scrutiny, evolving IFRS compliance requirements, and the growing complexity of financial transactions, internal and external auditors must be equipped with the tools to assess financial integrity, compliance, governance, and operational efficiency within these institutions.
This course offers an in-depth examination of audit processes tailored to the unique environments of banks, SACCOs, and MFIs. It covers both internal and external audit practices, focusing on risk assessment, internal controls, audit planning, and reporting. Participants will also explore how to audit key areas such as loan portfolios, savings accounts, interest income, member shares, financial disclosures, and ICT systems. Emphasis is placed on aligning audits with regulatory expectations from central banks and SACCO/MFI supervisory bodies, as well as identifying fraud risks and control gaps.
Participants will learn how to plan and conduct audits that not only ensure regulatory compliance but also add value to institutional performance and stakeholder trust.
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Course Objectives
By the end of the course, participants will be able to:
•Understand the audit environment for banks, SACCOs, and MFIs
•Design and implement risk-based audit strategies and programs
•Evaluate internal controls and compliance with financial regulations
•Audit core operational areas, including credit, deposits, revenue, and expenses
•Apply IFRS and regulatory requirements in financial audit reviews
•Report audit findings effectively and recommend corrective measures
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Target Audience
This course is ideal for:
•Internal and external auditors of banks, SACCOs, and MFIs
•Audit committee members and board oversight bodies
•Risk and compliance managers
•Financial controllers and accountants
•Regulators and supervisory authority staff
•Consultants and audit firm professionals
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Training Methodology
•Facilitator-led technical modules and real audit case studies
•Group exercises on audit planning and risk identification
•Walkthroughs of audit checklists, templates, and working papers
•Peer learning and sharing of field-based audit experiences
•Simulated audits of core banking and SACCO operations
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Expected Outcomes
Participants will:
•Gain advanced skills in auditing financial institutions
•Develop institution-specific audit programs and checklists
•Identify control weaknesses and recommend improvements
•Align audit processes with IFRS, SACCO/banking regulations, and risk management standards
•Produce audit reports that meet professional and regulatory standards