19 Jul EXPLAIN THE ROLE OF INTERNAL AUDIT SYSTEMS IN A MICROFINANCE INSTITUTION
1a.
Strategic and financial planning is key to the success of every MFI. Explain how the Fayol’s
planning functions can facilitate the success of a Micro Finance Institution.
b.
(13 Marks)
Explain the key management skills a manager should posses in order to effectively manage a
Micro Finance Institution
(10 Marks)
1
2a)
MFIs should have a clear policy on product development and outreach in order to be
sustainable. Highlight the key factors to consider when deciding on the products to offer.
(8 Marks)
b) Explain the role of internal audit systems in a Microfinance Institution ( MFI)
c) A good product costing and pricing system is key to the success of a MFI. Discuss and
illustrate your answer.
(7 Marks)
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