Audit in the Philippines

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Chairman Tobias Schüßler was able to travel to the Philippines on short notice. There, he visited our partner organization project life Subic, our our first partner organization since 2014 to give out micro loans for people in slums.

„The most important part of my visits is doing an audit.“, explains Schüßler. „We can therefore ensure transparency which allows us to guarantee our donors that their donation actually arrives where it is supposed to. Project Life did a very good job on this. I was able to retrace all payments and withdrawals. All receipts were there and fit the information I received during the year.“

During a cash audit, we make sure that our partner organization keeps up with the accounting standards set by GMI. Payments and withdrawals are checked randomly and if there occur any inconsistencies then we check the whole time period since the last audit. Project Life keeps our micro loan fond in a safe and our board received information about the holdings, regularly.