MFIs, coops get financial regulations training

The Peace and Equity Foundation conducted a series of training on financial reporting to ensure that enterprise partners comply with government laws and regulations.

Twenty-seven participants representing microfinance cooperatives and institutions from Saranani and Sultan Kudarat joined the training, which were held in General Santos City and Lebak, Sultan Kudarat. Resource speakers from SyCip Gorres Velayo & Co. discussed basic financial statements, supplementary financial reports and reminders in closing books.

“The workshop helped the organizations in financial reporting and in complying with BIR policies to avoid penalties and to maximize outputs of the accounting staff,” PEF’s Stefan Babera said.

PEF is currently working with Mahintana Foundation Inc.  as co-implementer of Strengthening Off-Grid Lighting with Appropriate Renewable Energy Solutions (SOLARES), a renewable energy project that aims to provide rural electrification to thousands of households in Sarangani and Sultan Kudarat.