Risk-based Internal Audit

A multi-faceted approach that provides a unique service package developed in response to client needs.

Although an internal audit verifies compliance of processes and practices with internal and external regulations, only a targeted risk-based internal audit analysis can assess whether an institution’s internal controls and risk management systems can effectively measure and manage specific risks.

BFC offers three types of assistance to MFIs and banks:

  • ESTABLISHMENT of new risk-based internal audit systems
  • UPGRADE of existing internal audit to risk-based internal audit
  • INVESTIGATION of fraud cases


BFC offers the following services:

  • Internal audit field work and portfolio audit
  • Design of bespoke risk-based internal audit procedures
  • Institution capacity-building — classroom training for internal auditors and managers, and on-the-job training for internal auditors
Sample Risk Scoring Matrix