‘1412020 Questionnaire for Micrfinance i luton sisk management and infernal control system Questionnaire for Microfinance Institution-risk management and internal control system This questionnaire has been designed to solicit your views on this topic. This assignment is part of the completion of SIP for PGDM at Chandragupta Institute of Management Patna. This study is purely academic and as a matter of fact, the information you provide here would be kept confidentially. | will be grateful if you spare just a few moment of your time to respond to these questions frankly and honestly. Kindly accept my sincere appreciation for your valuable time and participation. Thanking You * Required 1. Name of respondant * 2 Age* Mark only one oval. (20-40 40-49 CO) 50+ 3. Educational Atcainment * Mark only one oval. () Diploma raduation ) Post Grduate ) Other: hitpsildocs.google.comformslInHRhh6OxOHh@DMSYNy7YWumrapjzwkBwGSMYSEhvKFgledt ana‘1412020 4, 5. Questionnaire for Microfinance instutionsisk management and internal control system Name of comapny * Branch * Designation Indi ace the period by which you are working in the organi Mark only one oval. >) Less than 5 years ) Between 11- 15years (—) Between Syears- 10years J) More than 15 years Is your organisation NBEG * Mark only one oval. CO yes No hitpsildocs.google.comformslInHRhh6OxOHh@DMSYNy7YWumrapjzwkBwGSMYSEhvKFgledt ana‘1412020 Questionnaire for Microfinance instutionsisk management and internal control system 9. Which internal control components is used within your organisation most frequently? * Mark only one oval. (©) a) Internal audit () ») Supervision 4) Information ©) 4) Monitoring ) Other: 10. Rank the extent to which your organization controls the environment through internal audit. (1-Very great extent, 2- Great extent, 3-Moderate extent, 4-Little extent, 5- No extent) * Mark only one oval per row. Accounting and financial management system Oo O O Management closely monitors implementation of Internal control () oO Oo systems Ethical values are upheld in all oO « OO , management decision YL — O ) hitpsildocs.google.comformslInHRnh6Ox0Hh@DMSYNy7YWumrapjzwkBwGSMYSEhvKFgledt ata‘1412020 1. Questionnaire for Microfinance instutionsisk management and internal control system Rank the extent to which your organization's management is involved in risk assessment through supervision (1- Very great extent, 2- Great extent, 3- Moderate extent, 4 Litele extent, 5- No extent) * Check all that apply. Management has defined appropriate objectives for the organization Management identifies risks that affect achievement of the objectives Management has a criteria for ascertainment of which fraud-related risks to the organization are Timely evaluation of risk on a regular basis 12. Ranlk the extent to which your organization practices the following control activities (1- hitpsildocs.google.comformslInHRhh6OxOHh@DMSYNy7YWumrapjzwkBwGSMYSEhvKFgledt Very great extent, 2- Great extent, 3- Moderate extent, 4- Little extent, 5- No extent) * Mark only one oval per row. 5 Corrective action is taken to address. o> 5) CO O weakness a Staff are trained to implement the accounting and financial oO oO Oo management system Itis impossible for one staff to have access to all valuable information oO oO without the consent of senior staff ana‘1412020 13. 14. Questionnaire for Microfinance instutionsisk management and internal control system Rank the extent to which the following scatements relate to your organization ‘information and communication system (1- Very great extent, 2- Great extent, 3- Moderate extent, 4 Litele extent, 5- No extent) * Mark only one oval per row. Management has identified individuals who are responsible for coordinating the various activities within the entity 0 0 0 0 Communication helps to evaluate how well guidelines and policies of = S OD oO Oo oO the organization are working and O fC being implemented Rank the extent to which the following statements relate to your organization “monitoring procedures (1- Very great extent, 2- Great extent, 3- Moderate extent, 4- Little extent, 5- No extent) * Mark only one oval per row. There are independent process checks and evaluations of controls. =) activities on regular basis Internal reviews of implementation of internal controls in units are Oo CO Oo oO conducted periodically Monitoring has helped in assessing the quality of performance of the oO oO oO © oO organization over time hitpsildocs.google.comformslInHRhh6OxOHh@DMSYNy7YWumrapjzwkBwGSMYSEhvKFgledt site‘1412020 Questionnaire for Microfinance instutionsisk management and internal control system 15. How do you examine the performance within your MFIs? * Mark only one oval. () Degree of objective attainment Return on equity Return on asset (—) Profitability (_) Other: 16, in your institution? * Mark only one oval. (No (_) Maybe 17, Is there any need for internal consrol systems within your organisation? * Mark only one oval. CO Yes CO No () Maybe hitpsildocs.google.comformslInHRhh6OxOHh@DMSYNy7YWumrapjzwkBwGSMYSEhvKFgledt Does the management closely monitor implementation of existing internal control system ana‘1412020 Questionnaire for Microfinance instutionsisk management and internal control system ion? 18. _ Ifyes, why do you think it is needed to institute internal control in your organis Mark only one oval. (—) The MFlis in its embryonic (initial) phase, so there is need for sound internal control to avoid losses (—) Internal control help prevent fraud and any fraudulent attitude ~_) Internal control brings out financial risk management to protect MFls against losses —_) Internal control leads to GROWTH OF THE ORGANISATION (—) All of the above (_) Other: 19. Do you think good inecrnal control systems increase the performance of your organization? Mark only one oval. ves No () Maybe 20. At what level risk management and internal control decision in your organization is made * Mark only one oval. (.) At branch level (—_) At head office level At branch level with the approval of head office ) other: hitpsildocs.google.comformslInHRnh6Ox0Hh@DMSYNy7YWumrapjzwkBwGSMYSEhvKFgledt mma‘1412020 Questionnaire for Microfinance instutionsisk management and internal control system 21. Is there any risk management department in your organisation * Mark only one oval. Oves Ono 22. Ifyes, who does the risk management head report to? 23. ‘To what extent following risk impacts most to your organisation? (1- Very great extent, Great extent, 3- Moderate extent, 4- Litcle extent, 5- No extent) * Mark only one oval per row. 1 2 3 4 5 Financial Risks = C1) CCC OperationalRisks () ©) ©) CC) CC) > StrategioRisks ©) CC) C) C) CC) hitpsildocs.google.comformslInHRhh6OxOHh@DMSYNy7YWumrapjzwkBwGSMYSEhvKFgledt ana‘1412020 Questionnaire for Microfinance instutionsisk management and internal control system 24, Rank the extent to which your organization uses following measures to control financial risk (1- Very great extent, 2- Great extent, Moderate extent, 4- Little extent, 5- No extent) Mark only one oval per row. Well-designed borrower screening, careful loan structuring, close monitoring, Delinquency is understood and addressed promptly to avoid its aA a rapid spread and potential for — significant loss. Aroutine process for comparing concentrations of credit risk with the adequacy of loan loss reserves and detecting patterns (e.g., by loan product, by branch, etc.) Strict organizational control over Ns loan transactions - Maintaining detailed estimates of projected cash inflows and outflows for the next few weeks or months so. (_) that net cash requirements can be identified hitpsildocs.google.comformslInHRhh6OxOHh@DMSYNy7YWumrapjzwkBwGSMYSEhvKFgledt ona‘1412020 Questionnaire for Microfinance instutionsisk management and internal control system 25. Rank the extent to which your organization is uses following steps to control operational risk risk (- Very great exten, 2- Great extent, 3- Moderace extent, 4- Lietle extent, 5- No extent) * Mark only one oval per row. 1 2 3 4 5 Effective and secure portfolio management systemegaccurste 89) () © © © MIS, timely reports, data backup ete ‘Adequate Loan tracking information, SNe . . C C > ¢ oO e.g, adequate credit histories. CO ODO OF PP PL Strong internal controls to test and verify the accuracy of information = OOO and adherence to policies and © C O VY procedures the use of preventive measuresto SN reduce fraud O OC CO PO 2 an inspection unit that performs OOOO Oo random operational checks. O DO PF 0 PP hitpsildocs.google.comformslInHRnh6Ox0Hh@DMSYNy7YWumrapjzwkBwGSMYSEhvKFgledt ton‘1412020 Questionnaire for Microfinance instutionsisk management and internal control system 26. Rank the extent to which your organization is uses following steps to control strategie risk (1- Very great extent, 2- Great extent, 3- Moderate extent, 4- Little extent, 5- No extent) * Mark only one oval per row. 1 2 3 4 5 The institutional by-laws are clear and wellwritten, andaccessibleto ©) (©) ©) ©) ©) all board members Boards comprise the right mix of individuals who collectively represent the technical and personal C) (©) ©) ©) ©) skills and backgrounds needed by the institution. To minimize business risk, the institution reacts to changes in the external business environment to SS — take advantage of opportunities, to respond to competition, and to maintain a good public reputation. 4 0 0 4 0 U a 27. Rank the following risk from most threatening to least threatening(t-most threatening, 5 lease threatening) * Mark only one oval per row. 1 2 3 4 5 Bad Debt Oo OO CO OO OO Lack of goodinternalcontol () (©) ©) ©) ©) Lack of Affordable fund Oo CO O OO OO Fraud O0oOO 0 Oo hitpsildocs.google.comformslInHRhh6OxOHh@DMSYNy7YWumrapjzwkBwGSMYSEhvKFgledt ane‘1412020 28. 29. 30. Questionnaire for Microfinance instutionsisk management and internal control system Cost effective and most efficient way used in the organisation to lowe: Mark only one oval. (—) Conservative credit policy Staff training (—_) Better loan management system (—_) Effective internal control system (_) Credit score model ( Encouraging customer to take short term loan Which of the f can choose more than one option * Check all that apply. Age Gender Income Education Credit History Amount of loan all of the above Other: che risk exposure * swing factors are the biggest predictor of non payment of new clients? You Do you think better internal control system helps in reducing the risk faced by the organization * Mark only one oval. CO yes No (_) Maybe hitpsildocs.google.comformslInHRhh6OxOHh@DMSYNy7YWumrapjzwkBwGSMYSEhvKFgledt sana‘1412020 31. 32. 33, 34, Questionnaire for Microfinance i luton sisk management and infernal control system If risks are controlled then the company’s performance inereases * Mark only one oval. Oves Ono © maybe Rank the following risks that can be managed very well wich the help of internal control system? (1- Very great extent, 2- Great extent, 3- Moderate extent, 4- Little extent, 5- No extent) * Mark only one oval per row. 1 2 3 4 5 Financialrisk =) CC) CC) CGC) Cc Strategic risk oO oO }|0 }|0 }|0 Operational risk (__) oO a U a U CO U If risks are controlled chen the company grows smoothly in terms of profit. * Mark only one oval. yes no Do you think due to the pandemic your organisation will face new issues, challenges and risk? Give your views hitpsildocs.google.comformslInHRhh6OxOHh@DMSYNy7YWumrapjzwkBwGSMYSEhvKFgledt 1384