1. Introduction

Inkunga Finance Plc is a financial institution that offers saving and credit services to agriculture entrepreneurs, traders, industrial businesses, young entrepreneurs and regular people who just want to save for some personal projects.

Inkunga Finance Plc proposes various saving products and credit products to suite client’s projects. It is headquartered in Karongi districts and its services cover the Western Province and neighboring districts, and Kigali with an ambition to expand and cover the whole nation, and later foreign countries.


To increase the penetration rate in the intervention zone;
To implement products those meet customer needs and improve technology-based services;
To put in place mechanisms for good governance and sound financial management;
To promote social performance; and
To promote the activities of marketing.

For better serving its clients, Inkunga Finance Plc was computerized in 2010 and the system is a centralized database driven application hosted at head-office. Different branches are also connected to Head-Office through VPN.

Inkunga Finance Plc believes that information systems audit is a part of the overall audit process, to ensure control maximization and risk mitigation. It seeks an independent and objective assurance to determine whether the existing Core Banking System (CBS), related resources and the environment adequately
safeguard assets, maintain data and system integrity; provide relevant and
reliable information; achieve organizational/information system goals and
consume resources efficiently, and have internal controls that provide reasonable assurance that operational and control objectives will be met, undesired events will be prevented or detected & rectified in a timely manner.

  1. Mission

The purpose of this task is to review the existing core banking system of Inkunga Finance Plc (ADBanking) and its integration with their party systems.

  • Operations
  • Financial reporting
  • Compliance, Internal control best practices and security
  • Interfaces, key reports, etc
  • Evaluation of suitability of perfect vision to Inkunga Finance Plc business plan; different products and their operation.
  • Identification of improvement needs:
  • Replication with PostgreSQLand Centos
  • Security of the system and operations through practices and professional ethics, system administration
  1. Scope of Work

The Core Banking System (CBS) at Inkunga Finance Plc has different functions and activities coupled with a number of computer installations at different Branches. There are risks inherent to information systems which may impact the CBS in different ways. Information System audit is required to provide
assurance on application by assessing computerized information system’s
functionality efficiency, technology infrastructure, and security through risk
assessment, internal control evaluation and detailed testing of associated

The Information system (IS) auditor is expected to adopt a risk-based approach to making an audit plan. The IS auditor is required to refer towards framework and standards on CBS for Microfinance institutions.

The major elements of IS audit can be broadly classified:

  • Data integrity review – To provide assurance that Quality and Integrity of the data processed ensures accurate and complete management reporting, if the database design and structure provides the best possible design for the organizational needs and corresponding application, effective and efficient processing of information systems. The purpose is scrutiny of live data to verify adequacy of controls, calculations and impact of weaknesses.
  • Report Validation review – To examine the extent to which built-in reports cover management, operations and regulatory requirements. Provide assurance that the information presented is error free, can be trusted and are in line with industry best practices nationally and internationally.
  • Usage and exploitation – to examine the usage done by the staff and if the IS is fully exploited according to the needs of Ikunga. Examine the internal capacity of Ikunga staff to use properly the IS and identify the potential gap and training needs;
  • Loan and saving management review – to examine if the features of IS are in line with the needs of the MFIs to manage properly their financial products and services, meaning getting accurate data about loan and saving portfolio, staff performance, per branch in real time, to allow good decision making from the management.
  • Administration and support review: Examines the ability of the vendor or internal staff to provide initial and ongoing support to the software, including the ability of the software provider to provide support and maintenance. Such support includes installation, data conversion, error correction, user queries, and period software improvements.
  • The auditor must also review the access control and authorizations, error and exception handling, business process flows within the application
    software, procedures and complementary controls (enterprise level,
    general, application and specialist IT control)
  • Infrastructure and system scalability review – Assessing risks of necessary information systems for the operation of applications. For example, Servers, software, computers, LAN, cabling, VPN and WAN, disaster recovery plan, etc.
  • IT security review – To provide assurance that, security of applications,
    workstations, servers and networks is corresponding to the controls
    objectives of control system and appropriate.
  • Business continuity review – includes existence and maintenance of fault tolerant and redundant hardware, backup procedures and storage, business continuity plan, effectiveness of disaster recovery plan, as well as ensuring existence of well-defined 1.5 Audit manual and its compliance thereon.
  • CBS general review – Covers Functionality and Expandability with future
    integration needs, whether it has the capacity to grow and expand with a
    microfinance institution as the organization evolves and adds functions
    and clients.
  • Existing Software Vender consultancy: The IT audit consultancy will contact the CBS vender and present all audit review including strength and weaknesses found before drafting the final report and making recommendations.
  1. Features
  • User management
  • Client Management
  • Savings Accounts
  • Loans & advances
  • NPL Management
  • Accounting
  • General Ledger
  • Financial statements
  • Cash/Teller Management
  • Cheque Book Management
  • Risk management and classification
  • Collateral management
  • Service Charges
  • General Ledger
  • Alerts
  • Integrated API
  • Digital channels (online, mobile, wallet, agency banking,)
  • Reconciliation
  • Multi-currency management
  • Multi-agency management
  • Know your customer KYC
  • Reporting & data analytics
  • Depreciation and Amortization
  • Audit trails
  • Payroll
  • Asset Management
  • Budget Module
  • Cheque Truncation System
  • Work Flow
  • Reports
  • EDWH (BNR Electronic Data WareHouse)
  • Business Intelligence for data collection, integration, analysis, and presentation of business information
  1. Skills required

Inkunga Finance Plc seeks service from competent company with at least 7 years of experience in the field of bank systems audit, design and implementation of procedures management information systems and databases. It must be legally registered, reputable firm in auditing and organization, preferably in financial institutions particularly in Microfinance institutions.

  1. Deliverable

The following will be provided upon completion of this work:

  • An audit report with a brief executive summary containing the audit
    objectives, scope, approach, overall conclusion, and key business issues.
  • A detailed summary of observations supporting the report, containing the
    observations on aforementioned areas, risk/implication, and recommendation for improvement in risk areas identified are also required.
  • All working papers, test results, interview notes, meeting minutes, and other audit evidence. In addition, a detailed roadmap/ overall recommendation for improvements.

The audit assignment is expected to be completed within 1 month.

  1. Intellectual property rights

The report generated through this study would be the intellectual property of only Inkunga Finance Plc.

  1. Tender documents and proposals submission

This document bidding Only is available at Job in Rwanda and on This website .

Technical and financial proposals of a local consultancy  will be submitted to the following email address: tender@inkungafinance.com  not later than 03rd January 2023 at 16H00  local time.  Late offers shall be rejected. The successful bidder shall be communicated via his/her correspondence email.

Done at Karongi,3rd December 2022


Director General

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