IDF established independent Internal Audit Team in 2000 with a view
to maintaining and improving the quality of work of its Microfinance
and other programs. The Team is consisted of 7 members headed by a
Deputy Coordinator. The Team is responsible directly to the Executive
Director for their work.
The team members visit branches, area, central coordination and head
offices to examine the books of accounts, various registers, loans
and savings, collection sheets, various ledgers and collection sheets
with the records and pass books of members. The team also examines
the utilisation of loans by the members.
The team corrects the mistakes and errors at branch level if possible.
For mistakes and errors, which are not possible to correct at the
branch, one-month time is allowed to correct them and report to the
Executive Director. For wilful minor mistakes, administrative measures
are taken while for misappropriation major action like dismiss from
the job is taken.
As of December 2014, all 75 branches, areas and Central Co-ordination
Office have been audited by turn. The internal audit was found to
be a very fruitful tool for maintaining and improving the quality