The SPI Audit: A Strategic Time for Collective Ownership!
Tips from an SEPM Profesionnal
Fonton Sylvestre Honvou is a qualified auditor in Social and Environmental Performance Management based in Benin. In this article, he lists the benefits of conducting an SPI audit for the various stakeholders of the institution.
The social and environmental audit of financial institutions with SPI5 is based on the "3P" methodology: Procedures, Practices, People. In doing so, the audit provides an opportunity for better understanding, discovery, appropriation and, above all, reappropriation of practices by the various stakeholders of the institution.
✅ Increasing ownership of missions and values:
A social and environmental audit enables teams to revisit the "why" behind their actions: the institution's social mission. It promotes alignment between daily practices and stated commitments (inclusion, equity, impact).
❇️ Strengthening internal consistency:
Auditing identifies gaps between intentions and practices (e.g., inclusion, gender, accessibility of services, collection, ethics). It provides clear benchmarks for initiating concrete and measurable changes.
☑️ Mitigating environmental impacts:
Even in microfinance, operations generate environmental impacts (consumption of resources, financing of polluting activities, etc.). Auditing helps to better understand these impacts and propose corrective or preventive measures.
✳️ Improving the overall performance:
By integrating social and environmental indicators, the institution strengthens its long-term performance: reputation, customer relations, loyalty, operational resilience.
✴️ Reinforcing compliance and credibility:
Audits enable compliance with international standards and allow organizations to speak the same language as donors, investors, and technical partners.
✔️ Engaging staff in a participatory way:
The audit is also an educational and unifying tool: teams participate in the diagnosis, become aware of the issues at stake, and become agents of change rather than mere executors.
✅ Promoting the institution externally:
By documenting its efforts and progress, the institution can promote its social and environmental commitment to its partners (impact reports, labels, responsible financing, etc.).
As qualified auditor, Fonton Sylvestre Honvou is a member of the Social and Environmental Performance Management Professionals Network (the SEPM Pros Network). This community of experienced and qualified practitioners supports financial inclusion stakeholders to improve practices on the ground. Local experts can be mobilized to conduct reliable assessments in SEPM and Client Protection, design strategies and action plans, deliver training, and implement sustainable changes.
All stakeholders can benefit from this expertise in many ways:
- As an impact investor, you can collaborate with a Pro to support your due diligence process for potential investees or to strengthen your investees' practices of SEPM and Client Protection.
- As a financial service provider, you can mobilize a Pro to assess your practices and provide recommendations for improved social, environmental, and financial performance.
- As a national, regional, or international network, you can have a Pro conducting training sessions for your members.
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