From September to October 2008, The SEEP Network sponsored the survey, “Financial Reporting Standards for Microfinance.” This brief provides a short summary of the results. More than 160 people—broadly distributed around the world—responded, representing a wide spectrum of stakeholders, including microfinance institution (MFI) directors, industry practitioners, network leaders, raters, MIS software vendors, investors, donors, bankers, and researchers.
Overall, they expressed a concurrence that financial reporting standards are a priority both for the industry and for individual institutions to address. At least 87 percent saw this initiative as “very important” or “important” for the industry. Common concerns and priorities were articulated across the spectrum of interest groups.