Put in an extremely narrow perspective, auditors ensure that the audited entity is adhering to the prevailing accounting standards pretty much like supervisors are tasked with ensuring that banks are following the prescribed regulatory framework. But expectations from supervisors and auditors – from society, from the financial system and from ourselves – goes beyond this narrow perspective.
The Philippines is pleased to welcome all of you to the 2013 Microcredit Summit: Partnerships Against Poverty. That the summit is being held in this part of the world at this time is deeply appreciated. According to the Asian Development Bank, two-thirds of the world’s poor are in Asia and the Pacific.