APPOINTMENT OF EXTERNAL AUDITOR OF A MICROFINANCE INSTITUTION

The National Bank of Ethiopia has issued a directive outlining the guidelines for the appointment of external auditors for microfinance institutions in Ethiopia, emphasizing the importance of independence, objectivity, and expertise in auditing. The directive sets out the requirements for the selection and appointment of external auditors, including licensing, experience, and fit and proper criteria, as well as the responsibilities of both the auditor and the microfinance institution to ensure effective and transparent auditing practices.