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Directives for the 6th Peer Review of AADFI Member-Institutions

AADFI
Directives for the 6th Peer Review of AADFI Member-Institutions

The directives for the 6th Peer Review of AADFI Members-Institutions are as follows:

  1. Member-institutions should as first step objectively conduct an internal assessment of their institutions using the PSGRS. It is advised that the last audited accounts of the institutions be used for the assessment.

  2. The result of the self-assessment should be submitted to the External Auditor or Supervisory Department in the Central Bank of the institution concerned (as applicable) for certification. With regard to certification by External Auditors, it is recommended that member-institutions should make it one of the tasks of the External Auditors when auditing their annual accounts in order to facilitate the process and save costs.

  3. The certified results should then be brought to the attention of the institution’s Board of Directors and signed by the Board’s Chairperson as accepted.

  4. The certified results (comprising the following documents: the Rating Questionnaire Worksheet and the Summary Ratings Score Sheet) should then be submitted to the AADFI Secretariat before August 31st 2016. However, institutions whose financial year ends on 30th June, should submit their certified results by the end of September 2016.

  5. The PSGRS Consultant will review the Self Assessment results from member-institutions, give Ratings and report to the Executive Committee for approval.

  6. Final Rating obtained from the review would be communicated to the individual member-institutions alongside observations and corrective actions to be taken.

  7. AADFI Secretariat will issue Results Transcript and Rating Certificates to DFIs.

A copy of the PSGRS document comprising the Background information, the Instruction Manual, the Rating Questionnaire Worksheet and the Ratings Questionnaire Score Sheet is available for downloading from the Association’s website at www.adfi-ci.org

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