Alliance for Women and Girls – Directors’ Annual Report (Year Ended 31 March 2025) Presented by Vongai Nyahunzvi Director / Alliance For Women And Girls
COMPANY NO 14869616 31.12.2025
Introduction
The Directors of the Alliance for Women and Girls (AFWAG) are pleased to present the annual report for the financial year 1 April 2024 to 31 March 2025. This year marked a period of significant growth, learning, and resilience for AFWAG as we pursued our mission of empowering women and girls across Africa. AFWAG serves as a catalyst that amplifies the efforts of local leaders and organisations committed to gender equity and women’s empowerment. In 2024–25, we expanded our pan-African network, launched innovative leadership initiatives, and strengthened our operational foundations amid a challenging environment. This report outlines our activities and achievements over the year, provides a financial review, and details how we have met our governance and public benefit responsibilities in line with Companies House and Charity Commission requirements.
Network Growth and Engagement Across 22 Countries
Expanding Our Membership: AFWAG’s network experienced robust growth over the year, welcoming 162 new member organisations from across Africa. These new members span 22 countries, bringing diverse expertise in fields such as health, education, livelihoods, agriculture, climate justice, sexual and reproductive health and rights (SRHR), mental health, and arts empowerment. By the end of March 2025, our alliance comprised over two hundred grassroots organisations, each dedicated to creating a world where every woman and girl can thrive. This expansion not only increased our geographic reach but also enriched the collective knowledge and resources within our network.
Member Gatherings and Connections: To strengthen engagement and solidarity, we facilitated several network convenings during the year. In-person regional meet-ups were held in Zimbabwe and Kenya, bringing together members to share experiences and forge deeper collaborations. We also hosted a virtual gathering for members in Uganda, demonstrating the value of cross-border dialogue and shared expertise across our Africa-wide community. These events were rich in peer learning and exemplified the “Mushandirapamwe” spirit of collaboration that AFWAG champions. Members reported that such forums helped spark innovative ideas and partnerships that are now being carried forward in their home countries. In addition to formal gatherings, informal knowledge exchange thrived through our communications channels – notably, our moderated WhatsApp group grew to 107 active members, who used it daily to share ideas, resources and moral support. This vibrant engagement reflects the strength and dynamism of our growing community, keeping members connected between formal events.
Strengthening Regional Hubs: As our presence expanded, we began identifying country-level focal points and exploring the establishment of regional hubs. By investing in local capacity and leadership (through initiatives like our Country-Level Advisors, described later), we ensured that network growth went hand in hand with deep engagement in each country. Members in different regions convened around thematic interests and local challenges, laying the groundwork for sustained collaboration. The combined effect of new members and active engagement is a truly pan-African alliance united by a shared mission, now active in 22 countries from Southern Africa
COMPANY NO 14869616 31.12.2025
through East and West Africa. We are encouraged by the solidarity and mutual support evident across the network, which has enhanced our collective ability to advance gender equality at scale.
Leadership Development Initiatives: HAULF, HAESI and Country Advisors
A core pillar of AFWAG’s work is leadership development, nurturing the vision and capacity of those driving change for women and girls. In 2024–25 we advanced several flagship leadership initiatives:
Her Africa Ubuntu Leadership Fellowship (HAULF): AFWAG continued to invest in high-impact leaders through the Her Africa Ubuntu Leadership Fellowship (HAULF) programme. HAULF is a transformative six-month leadership fellowship designed for established leaders – CEOs, founders, C-suite executives, and board members – of organisations in sub-Saharan Africa. During the year we successfully convened the 2025 HAULF cohort, a collective of visionary women leaders from across the continent. Through residential workshops, coaching and peer learning, these fellows embarked on personal and professional growth journeys guided by the African philosophy of Ubuntu – emphasising our shared humanity and interconnectedness. The HAULF curriculum centred on self-mastery, relational leadership, and leading change in complex contexts. Fellows reported profound shifts in their leadership approach, noting increased confidence to reimagine power and voice for women and girls in their communities. This cohort-based experience has strengthened a pan-African sisterhood of changemakers who will continue to collaborate beyond the fellowship period. HAULF remains AFWAG’s flagship leadership programme, illustrating our commitment to “leadership as liberation” – a theme we highlight in our communications.
Her Africa Early Stage Incubator (HAESI): This year saw the launch and implementation of the Her Africa Early Stage Incubator (HAESI), an initiative focused on emerging grassroots leaders. HAESI is a program that empowers early-stage social entrepreneurs who are founding organisations and initiatives supporting women and girls across Africa. In 2024 we welcomed our inaugural HAESI cohort, comprised of young innovators from multiple countries. Over a six-month period, these women received structured support to refine their project models, build organisational skills, and attract funding. The incubator provided mentorship from experienced sector experts, training workshops on topics like project management and impact measurement, and a small seed grant for each participant to pilot or scale her initiative. By the end of the year, HAESI participants had developed stronger strategic plans and demonstrated increased confidence in leading their start-ups. One participant noted that HAESI provided “a safe learning space to fail, adjust, and ultimately accelerate our impact” – exactly the outcome this program was designed to achieve. Given the success of the pilot cohort, we intend to expand HAESI to reach more early-stage leaders in the coming years.
Country-Level Advisors (CLAs): In line with our strategy of localising leadership, AFWAG introduced a new Country-Level Advisor (CLA) role and began to build a team of advisors across our network countries. These Advisors are experienced grassroots leaders appointed to guide national strategies, strengthen community initiatives, and advance gender equity at the country level. During 2024–25, we onboarded our first cohort of CLAs in several countries, including Kenya, Nigeria, Malawi and others. Each CLA works closely with the AFWAG secretariat to provide on-the-ground
COMPANY NO 14869616 31.12.2025
insights, convene country-level member dialogues, and represent AFWAG in national forums. For example, our newly appointed CLA in Nigeria has begun coordinating regular country meet-ups and liaising with local partners to amplify members’ voices in national gender policy discussions. The CLA initiative has already enhanced AFWAG’s reach and relevance by ensuring that our programmes and advocacy remain rooted in local context. This approach of distributed leadership empowers those closest to community challenges to shape solutions – embodying our belief that effective leadership is inclusive, locally informed, and shared. We will continue growing the CLA team, aiming to have active Advisors in all 22 countries of operation to bolster national engagement.
Digital Tools and Capacity Building: Member Portal and Learning Portal
AFWAG is committed to strengthening the organisational capacity of our member organisations through technology and knowledge sharing. In 2024–25, we made significant strides in developing digital tools that connect our network and provide valuable resources:
AFWAG Member Portal: Early in 2024, we launched the AFWAG Member Portal, a secure online platform designed as a one-stop hub for our members. The Member Portal allows member organisations to connect, share knowledge, and access support services within a dedicated digital space. Through the portal, members maintain up-to-date profiles of their organisations, post news or stories of their work, and directly engage with peers across countries. It also houses discussion forums sorted by thematic areas (such as education, health, or economic empowerment), enabling members facing similar challenges to problem-solve collectively. This year we continuously improved the portal’s features based on user feedback – for instance, adding a resource library and a matchmaking tool for collaboration opportunities. By year-end, the portal had become an integral part of our communication infrastructure, complementing in-person meetings and informal channels. It reinforces the Alliance’s “network of networks” approach by making it easier for a women’s rights organisation in, say, Zambia to connect with and learn from another in Tanzania, at any time. The Member Portal is a cornerstone of how we sustain engagement and knowledge exchange in a large, distributed network.
Learning Resources: Recognising the need for readily accessible capacity-building resources, we introduced the new AFWAG Learning Portal in 2024. This online Learning Resource is an open repository of curated tools, guides, and self-paced courses to help member organisations strengthen their operations and impact. During the year, we populated the portal with practical resources covering topics such as financial management for NGOs, monitoring and evaluation, safeguarding policies, and effective storytelling for advocacy. We also added a suite of co-created tools – for example, a Gender Audit checklist developed with input from several network members, and a board governance toolkit shared by one of our partner organisations. The Learning Resources were enthusiastically received by members. Users reported that the portal’s resources helped them improve proposal writing, streamline project reporting, and adopt new practices like data protection. In addition to static resources, the portal hosted interactive webinars and peer learning sessions (recorded for those who could not attend live). By year-end, over half our member organisations had accessed the Learning Resources, and many contributed suggestions for new content, truly making it a collaborative knowledge platform. This investment in digital
COMPANY NO 14869616 31.12.2025
capacity-building tools demonstrates AFWAG’s innovative approach to empowerment – leveraging technology to level the playing field so that even small community-based organisations can access world-class expertise and training.
Continued Digital Innovation: Alongside the major portals, we maintained and enhanced other digital systems to support our work. Our main website (afwag.org) was kept up-to-date with news, blogs, and success stories from the network, helping to raise visibility of members’ achievements. We integrated new software for monitoring and evaluation to better track our collective impact metrics. Additionally, AFWAG bolstered its social media presence to extend our reach to global audiences; content such as member spotlights and campaign highlights were regularly shared on LinkedIn, X (Twitter), Facebook, and Instagram, growing our follower base and engagement. These digital efforts contribute to a more connected and capable network, aligning with our strategy to foster collaborative networks and strengthen organisational capacity through every available medium.
Fundraising Efforts and Global Visibility
AFWAG’s sustainability and influence were enhanced this year through proactive fundraising and increased visibility on regional and global stages. We sought not only to raise the resources needed to fund our mission, but also to ensure that AFWAG and its members are seen and heard in key forums where decisions affecting women and girls are made.
Active Participation in Global and Regional Forums: In 2024–25, AFWAG made a concerted effort to have a presence in high-impact gatherings across the development and philanthropy sectors. We gained recognition through participation in global forums and conferences, including: the AWS (Amazon Web Services) Global Summit in Nairobi, Kenya; the African Leadership Academy’s Education Summit in South Africa; the Africa Philanthropy Forum and Africa Philanthropy Network annual gatherings; events around the United Nations General Assembly (UNGA) in New York; the Skoll World Forum; and the Opportunity Collaboration conference. At each of these venues, representatives from AFWAG (staff or member delegates) shared insights on grassroots leadership and community-driven change. For example, at the Africa Philanthropy Forum, our Founder/CEO was invited to speak on a panel about innovative funding models for women’s organisations, bringing forward the perspectives from our network. These engagements significantly raised AFWAG’s profile and opened doors to new partnerships. They also provided learning opportunities for our team and network members, who brought back new ideas and connections. By stepping onto these prominent stages, we ensured that African women and girls’ voices are influencing global dialogues on gender equity. The credibility and networks we built through such visibility are already benefiting our members – for instance, after the Skoll Forum, AFWAG facilitated introductions between a few member NGOs and international donors met at the event.
Fundraising Initiatives and Campaigns: On the fundraising front, the Alliance pursued a multi-faceted strategy. We focused on deepening relationships with existing donors (detailed in the next section) and reaching out to new funders, while also mobilising support through public
COMPANY NO 14869616 31.12.2025
campaigns. A highlight was our Giving Tuesday 2024 campaign, titled “The Power of Networks: Local Leaders Driving Gender Equity.” As part of this campaign, AFWAG hosted a series of four engaging webinars showcasing stories from our network. One webinar, “Stories That Shape the Future,” featured grassroots women leaders from different countries sharing how their local initiatives were transforming their communities. The webinars attracted strong participation and helped illustrate to donors the real-world impact of investing in community leadership. Alongside storytelling, we used the campaign to encourage donations via our online platforms. The result was an increase in individual contributions around the Giving Tuesday period and heightened awareness of AFWAG’s work. Internally, the campaign was also a galvanising moment for our members – it celebrated their successes and reinforced the value of being part of a supportive alliance. In addition to this, AFWAG organised a Fundraising Capacity-Building Series for our members (with sessions on topics like storytelling for fundraising and donor engagement) to help strengthen the sustainability of member organisations. Over 30 participants joined these training sessions, reflecting our belief that fundraising is a collective effort and skill to be shared across the network.
Media and Communications: We invested in strategic communications to support both fundraising and visibility goals. Press releases and op-eds were circulated to media outlets highlighting major milestones – for example, the launch of the HAESI incubator and the outcomes of our leadership fellowship. AFWAG’s story and mission were featured in several press articles and on radio programmes in countries like Kenya and Zimbabwe, expanding our reach to new audiences. Our social media content, as noted, played a role in engaging supporters; during International Women’s Day and the 16 Days of Activism, we ran online campaigns that showcased member impact stories and called for support, gaining traction through shares and discussions. These communications efforts reinforced AFWAG’s brand as a thought leader in grassroots women’s empowerment, which in turn supports our fundraising by attracting interest from philanthropists aligned with our vision.
Partnerships with Foundations and Corporates
Building strong partnerships is central to AFWAG’s strategy for long-term impact. In 2024–25, we actively collaborated with philanthropic foundations and corporate sponsors whose values align with our mission. These partnerships provided vital financial support, technical expertise, and credibility to our work:
- Foundation Support: We forged relationships with prominent charitable foundations. Notably, the Murtala Muhammed Foundation, a leading African foundation, partnered with AFWAG during the year to support our capacity-building programmes. Their grant enabled us to scale up the Learning Portal and offer more training workshops to member organisations. We also continued to engage with international foundations interested in gender equity; for example, we received a contribution from a family foundation to co-fund the HAULF fellowship, reflecting confidence in our leadership development approach. These foundation partnerships often extended beyond funding – they provided mentorship opportunities (foundation representatives spoke in our events) and facilitated connections with broader initiatives in the women and girls sector.
COMPANY NO 14869616 31.12.2025
-
Corporate Partnerships: AFWAG sought to involve the private sector in advancing our cause, and this year we saw encouraging results. We secured sponsorship from companies such as Seren Healthcare Solutions and Lekoil Nigeria Limited, which joined as corporate partners supporting specific aspects of our work. Seren Healthcare Solutions, for instance, sponsored a health-focused webinar series for our members, bringing in their experts to share knowledge on women’s health innovation. Lekoil Nigeria Limited provided financial support earmarked for expanding our network outreach in West Africa. We also received in-kind contributions from businesses – one IT firm donated software licenses to our members, and a marketing agency offered pro bono support to help us refine our campaign messaging. Engaging corporates has not only diversified our funding base but also opened avenues for skills-based support and joint advocacy (some corporate partners have large platforms which they used to spotlight AFWAG’s work internally and externally). We are grateful for these companies that have stepped forward as champions of women and girls, and we will nurture these relationships moving forward.
-
Collaborative Initiatives: Beyond funding partnerships, AFWAG actively collaborated with peer organisations and networks. During the year we worked with the Africa Leadership Academy (ALA) and African Women’s Development Fund (AWDF) on co-hosting learning events, thereby sharing resources and reaching more beneficiaries together. We also joined a consortium led by the Africa Philanthropy Network to collectively advocate for more inclusive funding practices for grassroots organisations. These collaborations with foundations, corporates, and sector peers amplify our impact and help build a stronger ecosystem in support of gender equality.
Overall, the year’s partnership efforts have strengthened AFWAG’s foundation. The support from both philanthropic and corporate partners has been instrumental in enabling our programmatic achievements, and their endorsement of our mission enhances our legitimacy. We acknowledge our funders and partners with gratitude, and detail their contributions in our financial statements and on our website. Their trust in AFWAG is something we value greatly, and we remain committed to transparency and delivering results in line with the confidence they have placed in us.
COMPANY NO 14869616 31.12.2025 ALLIANCE Alliance For WomenAndGirls (AFWAG) Annual report andfjntincial statements For the Year ended3J March 2025 INCOMEAND LVENDTfuRE sfATEMENr Note 202S USD 2024 USD Income 61 Gro tncorne 288AI6 $3561 Other InTne 410,661 114A67 Total LndItuTe 411379 115.120 Surplu61(Defidt) 16 61 Allionce For Women And Girls (AFWAG) Annual report andfinancial sthtements at31 March 202S STATEMEKf OF FINANCIAL posrrIoN AS AT 31 MARCH 2025 2025 USD 2024 USD Note Property plant and equipment 3,021 3,021 2,610 2.610 Cash and 8h &4uivalents 7,967 7>967 13,291 A3>291 10,988 15,902 F4uity and liabilitie8 Capital and Reserves Retained earnin {184.T231 (A84.B3) {6L.5591 (61.559) Current Iiabi]ities Trade and other payables 195.711 195,711 77.461 77*461 Total Reserve8 and Iiabilitie& 10,988 15.902
COMPANY NO 14869616 31.12.2025
Our Finances – Notes to the Accounts (AFWAG)
Accounting basis
The financial statements have been prepared on an accruals basis.
Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs).
Incoming resources
Income is recognised when the organisation is entitled to the income, it is probable that the income will be received, and the amount can be measured reliably. Grant income is recognised in line with the conditions attached to the funding.
Resources expended
Expenditure is recognised on an accruals basis as liabilities are incurred. Costs are allocated to activities in furtherance of the organisation’s charitable objectives or to governance and administration, as appropriate.
Taxation
Alliance for Women and Girls (AFWAG) is a charitable organisation and is exempt from corporation tax on income and gains to the extent that such income and gains are applied exclusively to charitable purposes, in accordance with applicable legislation.
Trustee remuneration
No Trustee received remuneration or benefits for their services during the year.
Fund accounting
The organisation maintains restricted and unrestricted funds. Restricted funds are subject to specific donor conditions regarding their use. Unrestricted funds are available to support the general objectives and operations of the organisation.
Trust constitution
AFWAG is governed by a Trust Deed in Kenya, and is registered as a charity in the United Kingdom. Trustees are appointed in accordance with the provisions of the governing document.
Policy on reserves
At 31 March 2025, the organisation held negative unrestricted reserves as a result of planned investment in programme delivery and organisational set-up costs during a period of rapid growth. The Trustees are actively implementing a reserves-building strategy, supported by confirmed and prospective funding, with the aim of establishing an appropriate level of unrestricted reserves over the medium term.
COMPANY NO 14869616 31.12.2025
Loans and advances
The organisation recorded short-term loans and advances, including activity-related advances and loan balances, which are disclosed within trade and other payables. These balances are expected to be settled in the normal course of operations.
Deferred income
Deferred income represents grant funding received in advance of expenditure on qualifying activities. Such income is recognised in the period in which the related costs are incurred.
Financial audit
The financial statements for the year ended 31 March 2025 have been audited by Lexan & Associates, Certified Public Accountants in Kenya, who issued an unqualified audit opinion.
Trustee Declaration
The trustees declare that they have approved the trustees report above.
Signed on behalf of the charity’s trustees
Signature Full name: Vongai Nyahunzvi Position: DIRECTOR Date: 19/12/2025
ALLIANCE FOR WOMEN AND GIRLS (AFWAG) AUDIT REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
Doc ID: 3ec9f4ff1af28f8f81210276b690ecae6aeab9c1
Alliance For Women And Girls (AFWAG) Annual report and financial statements For the Year ended 31 March 2025
| Table of contents | Pg no |
|---|---|
| Organisation information | 1 |
| Board of Trustees | 2 |
| Statement of Trustee's responsibilities | 3 |
| Independent auditor's report | 4-5 |
| Statement of Income and Expenditure | 6 |
| Statement of financial position | 7 |
| Statement of fund balance | 8 |
| Cash flow statements | 9 |
| Notes to the financial statements | 10-15 |
Doc ID: 3ec9f4ff1af28f8f81210276b690ecae6aeab9c1
Alliance For Women And Girls (AFWAG) Annual report and financial statements For the Year ended 31 March 2025
ORGANISATION INFORMATION
Board of Trustees Dr. Aisha Muhammed-Oyebode H.E. Rosalía Arteaga Nemaisa Kiereini Sarah Henry (Joined in May 2025) Alex Mutambudzi Gerald Chirinda Margaret Mliwa Registered Office L.R No. 209/6921 167-169 Great Portland street, 5th Floor London W1W 5PF Principal banks Stanbic Bank Kenya Limited Westlands Road, Chiromo P.O Box 30550 - 00100 Nairobi, Kenya Swift: SBICKENX Independent Auditor Lexan and Associates, Certified Public Accountants, 3rd Floor, AACC Building, Waiyaki Way, Westlands, P.O. Box 51727-00100, Nairobi.
1
Doc ID: 3ec9f4ff1af28f8f81210276b690ecae6aeab9c1
Alliance For Women And Girls (AFWAG) Annual report and financial statements For the Year ended 31 March 2025
BOARD OF TRUSTEES REPORT
The Trustees submit their annual report which includes the audited financial statements for the year ended 31 March 2025, which present the organisation's financial position as at 31 March 2025 and its financial performance and cash flows for the year then ended.
Principal activities
The principal activities are as follows:
-
a) Leadership Development
-
b) Fostering Collaborative Networks (Mushandirapamwe Spirit)
-
c) Strengthening Organisational Capacity
Result for the year
The results for the year ended 31 March 2025 are set out on page 6.
Trustees
The Trustees who held office during the year and to the date of signing of this report are listed on page 1
Terms of appointment of the auditor
Lexan & Associates were appointed to office during the year and have expressed their wilingness to assume office in accordance with the Trust Deed. The Trustees monitor the effectiveness, objectivity and independence of the auditor. The Trustees also approve the annual audit engagement contract which sets out the terms of the auditor's appointment and the related fees. The auditors remuneration has been charged to Statement of Income and Expenditure in the year.
By order of the Board
Trustee
19 / 12 / 2025
Nairobi …………..…………………... 2025
2
Doc ID: 3ec9f4ff1af28f8f81210276b690ecae6aeab9c1
Alliance For Women And Girls (AFWAG) Annual report and financial statements For the Year ended 31 March 2025
STATEMENT OF TRUSTEE'S RESPONSIBILIES
The Board of Trustees prepares financial statements for each financial year which present fairly, in all material respects, the organisation's financial position as at 31 March 2025 and its financial performance and cash flows for the year then ended. The Trustees also ensures that the
organisation maintains proper accounting records that are sufficient to show and explain the transactions of the organisation; and that disclose, with reasonable accuracy, the financial position of the organisation and that enable them to prepare financial statements of the organisation that comply with the International Financial Reporting Standard for Small and Medium-sized Entities.
The Board also accepts responsibility for:
-
a) designing, implementing and maintaining such internal controls as they determine necessary to enable the presentation of financial statements that are free of material misstatement, whether due to fraud or error;
-
b) selecting suitable accounting policies and applying them consistently; and
-
c) making accounting estimates and judgements that are reasonable in the circumstances.
Having made an assessment of the Organisation’s ability to continue as a going concern, the Trustees are not aware of any material uncertainties related to events or conditions that may cast doubt upon the Organisation’s ability to continue as a going concern.
The Trustees acknowledge that the independent audit of the financial statements does not relieve them of their responsibilities.
VN
Approved by the board of Trustees on ………………………………….. 2025 and signed on its behalf by:
…............................................... …........................................ Trustee Trustee
Trustee
3
Doc ID: 3ec9f4ff1af28f8f81210276b690ecae6aeab9c1
REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF ALLIANCE FOR WOMEN AND GIRLS (AFWAG)
Opinion
We have audited the financial statements of Alliance For Women And Girls (AFWAG) set out on pages 6 to 15 which comprise the statement of financial position as at 31 March 2025,and the income and expenditure statement, statements of changes in fund balance and statement of cashflows for the year then ended, and a summary of significant accounting policies and other explanatory notes.
In our opinion, the financial statements give a true and fair view of the state of the financial affairs of the Organisation as at 31 March 2025 and of its deficit and cash flows for the year then ended in accordance with International Financial Reporting Standards for Small and Medium-sized Entities.
Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Organisation in accordance with the International Ethics Standards Board for Accountants' Code of Ethics for Professional Accountants (IESBA Code) together with the ethical requirements that are relevant to our audit of the financial statements in Kenya, and we have fulfilled our ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Other Information
The management is responsible for the other information. Other information comprises the Trustees report, which we obtained prior to the date of this report . Other information does not include the financial statements and our auditor's report thereon.
Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated of this other information: we are required to report that fact. We have nothing to report in this regard.
Responsibilities of the Trustees for the financial statements
The Trustees are responsible for the preparation and fair presentation of these financial statements in accordance with International Financial Reporting Standards. The responsibility includes designing, implementing, and maintaining internal controls relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.
In preparing the financial statements, the board is responsible for assessing the Organisation's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the board either intends to liquidate the Organisation or to cease operations, or have no realistic alternative but to do so.
4
REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF ALLIANCE FOR WOMEN AND GIRLS (AFWAG)
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
-
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control
-
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board.
-
Conclude on the appropriateness of the board's use of the going concern basis of accounting and based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Organisation's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Organisation to cease to continue as a going concern
-
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
The engagement partner responsible for the audit resulting in this independent auditor's report is CPA Alexander Njeru. P/No. 2320.
Lexan and Associates Certified Public Accountants P.O. Box 51727-00100 Nairobi …………………………….2025 22 January
5
Doc ID: 3ec9f4ff1af28f8f81210276b690ecae6aeab9c1
Alliance For Women And Girls (AFWAG) Annual report and financial statements For the Year ended 31 March 2025
INCOME AND EXPENDITURE STATEMENT
| Note Income 3 Gross Income Other Income Administrative expenses 4 Establishment expenses 5 Total Expenditure Surplus/(Deficit) |
2025 USD 288,416 |
2024 USD 53,561 |
|---|---|---|
| 288,416 - 410,661 919 |
53,561 - 114,467 653 |
|
| 411,579 (123,163) |
115,120 (61,559) |
6
Doc ID: 3ec9f4ff1af28f8f81210276b690ecae6aeab9c1
Alliance For Women And Girls (AFWAG) Annual report and financial statements As at 31 March 2025
STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025
| Assets Note Non-current assets Property plant and equipment 6 Current Assets Cash and cash equivalents 7 Total Assets Equity and Liabilities Capital and Reserves Retained earnings Current Liabilities Trade and other payables 8 Total Reserves and Liabilities |
2025 USD 3,021 3,021 7,967 7,967 10,988 (184,723) (184,723) 195,711 195,711 10,988 |
2024 USD 2,610 |
|---|---|---|
| 2,610 | ||
| 13,291 | ||
| 13,291 | ||
| 15,902 | ||
| (61,559) | ||
| (61,559) | ||
| 77,461 | ||
| 77,461 | ||
| 15,902 |
The financial statements on pages 6 to 15 were approved and authorised for issue by the Trustees on
VN
...………………...…2025 and were signed on its behalf by:
………………………… ………………………… Trustee Trustee
7
Doc ID: 3ec9f4ff1af28f8f81210276b690ecae6aeab9c1
Alliance For Women And Girls (AFWAG) Annual report and financial statements As at 31 March 2025
STATEMENT OF CHANGES IN FUND BALANCE
| As at 1st April 2024 Deficit for the year As at 31 March 2025 As at 1st April 2023 Deficit for the year As at 31 March 2024 |
Capital Fund USD - - - |
Retained Earnings USD (61,559) (123,163) (184,723) - (61,559) (61,559) |
Total USD (61,559) (123,163) |
|---|---|---|---|
| - | (184,723) | ||
| - - - |
- (61,559) |
||
| - | (61,559) |
8
Doc ID: 3ec9f4ff1af28f8f81210276b690ecae6aeab9c1
Alliance For Women And Girls (AFWAG) Annual report and financial statements For the Year ended 31 March 2025
CASH FLOW STATEMENT
| Notes Cash flows from operating activities (Loss)/profit before income tax Adjustments for: Depreciation Operating profit before working capital changes Working capital changes Increase /(decrease) in payables Cash inflow from operating activities Cashflow from financing activities Cash flow generated from financing activities Investing activities Acquisition of capital assets 6 Net cash used in investment activities Net change in cash and cash equivalents Movement in cash and cash equivalents At start of the year Movement in the year Cash and bank balances at year end 7 |
2025 USD (123,163) 919 |
2024 USD (61,559) 653 |
|---|---|---|
| (122,245) | (60,906) | |
| 118,250 | 77,461 | |
| (3,995) | 16,555 | |
| (3,995) | 16,555 | |
| (1,330) | (3,263) | |
| (1,330) | (3,263) | |
| (5,324) | 13,291 | |
| 13,291 (5,324) |
- 13,291 |
|
| 7,967 | 13,291 |
9
Doc ID: 3ec9f4ff1af28f8f81210276b690ecae6aeab9c1
Alliance For Women And Girls (AFWAG) Annual report and financial statements As at 31 March 2025
NOTES TO THE FINANCIAL STATEMENTS
1 General information
Alliance For Women And Girls (AFWAG) is domiciled in Kenya where it is incorporated under a Trust Deed.
2 Basis of preparation and summary of significant accounting policies
These financial statements have been prepared on a going concern basis and in compliance with the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) issued by the International Accounting Standards Board. The financial statements are presented in United States Dollars (USD), rounded to the nearest thousand. The measurement basis used is the historical cost basis except where otherwise stated in the accounting policies below.
a) Translation of foreign currencies
All transactions in foreign currencies are initially recorded in US$, using the spot rate at the date of the transaction. Foreign currency monetary items at the reporting date are translated using the closing rate. All exchange differences arising on settlement or translation are recognised in profit or loss.
b) Property, plant, and equipment
Items of property, plant and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses.
Free hold land is not depreciated. All other items, depreciation is charged so as to allocate the cost of assets less their residual values over their estimated useful lives, using the straight-line method. The following annual rates are used for the depreciation of property, plant and equipment:
| Motor Vehicle Fixtures, fittings & Equipment Computers and Accessories |
Rate- % |
|---|---|
| 20.0 20.0 33.3 |
If there is an indication that there has been a significant change in the useful life or residual value of an asset, the depreciation of that asset is revised prospectively to reflect the new expectations. On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss.
10
Doc ID: 3ec9f4ff1af28f8f81210276b690ecae6aeab9c1
Alliance For Women And Girls (AFWAG) Annual report and financial statements As at 31 March 2025
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
- 2 Basis of preparation and summary of significant accounting policies (continued) Going concern
Based on the financial performance and position of the organisation and its risk management policies, the management board are of the opinion that the organisation is well placed to continue in operations for the foreseeable future and as a result the financial statements are prepared on a going concern basis.
Key sources of estimation uncertainty and judgements
In the application of the accounting policies, the management is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other relevant factors. Such estimates and assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.
The management has made the following assumptions that have a significant risk of resulting in a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Grants payable- The management have assessed whether or not to recognise a liability for grants payable. The management have sought guidance of Section 21 of IFRS for SME on provisions and contingencies in accounting for grants payable. The organisation recognises a grant payable where it enters into a formal grant contract and the disbursement of the funds fall outside the control of the organisation. The management also take into consideration probability of payment based on the historic trend on payment of grants payable.
d) Revenue Recognition
Grants are recognised where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. When the grant relates to an expense item, it is recognised as income on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed. When the grant relates to an asset, it is recognised as income in equal amounts over the expected useful life of the related asset.
Grants for restricted purposes and for specified funded projects are recognised when received and spent on qualifying activities. Any unutilised grants are recognised as deferred revenue grants and any excess expenditure over income is recorded as grants receivable at year end where there is commitment of additional funds from grant providers to cover such expenditure.
e) Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership of the leased asset to the Organisation. All other leases are classified as operating leases.
Rights to assets held under finance leases are recognised as assets of the Organisation at the fair value of the leased property (or, if lower, the present value of minimum lease payments) at the inception of the lease. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation. Lease payments are apportioned between finance charges and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are deducted in measuring profit or loss. Assets held under finance leases are included in property, plant and equipment, and depreciated and assessed for impairment losses in the same way as owned assets.
Rentals payable under operating leases are charged to profit or loss on a straight-line basis over the term of the relevant lease.
f) Borrowing costs
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
11
Doc ID: 3ec9f4ff1af28f8f81210276b690ecae6aeab9c1
Alliance For Women And Girls (AFWAG)
Annual report and financial statements As at 31 March 2025
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
g) Impairment of non-financial assets
Similarly, at each reporting date, inventories are assessed for impairment by comparing the carrying amount of each item of inventory (or group of similar items) with its selling price less costs to complete and sell. If an item of inventory (or group of similar items) is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carrying amount of the asset (or group of related assets) is increased to the revised estimate of its recoverable amount (selling price less costs to complete and sell, in the case of inventories), but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset (group of related assets) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
h) Financial liabilities
Financial liabilities are initially recognised at the transaction price (less transaction costs). Trade payables are obligations on the basis of normal credit terms and do not bear interest. Interest bearing liabilities are subsequently measured at amortised cost using the effective interest method.
i) Cash and cash equivalents
Cash and cash equivalents include cash in hand and demand and term deposits, with maturities of three months or less from the date of acquisition, that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, net of bank overdrafts. In the balance sheet, bank overdrafts are included as borrowings under current liabilities.
j) Comparatives
Where necessary, comparative figures were restated or reclassified to conform with changes in presentation in the financial statements.
3 Significant judgements and key sources of estimation uncertainty
In the application of the accounting policies, the Trusteess are required to make the judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other relevant factors. Such estimates and assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.
The Trusteess have made no assumptions and there are, in their opinion, no other sources of estimation uncertainty at the end of the reporting period that have a significant risk of resulting in a material adjustment to the carrying amount of assets and liabilities within the next financial year.
4 Judgements and key sources of estimation uncertainty
No significant judgements have had to be made by the Trusteess in preparing these financial statements.*
12
Doc ID: 3ec9f4ff1af28f8f81210276b690ecae6aeab9c1
Alliance For Women And Girls (AFWAG) Annual report and financial statements As at 31 March 2025
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
| 3 Income 40000 Corporate Contributions 41000 Foundations 45000 Individual Contributions 4 Administrative expenses 50000 Accommodation 50100 Meals 50200 Local transport 50300 Transport (Airfares) 50310 Vehicle hire 50400 Other travel costs (visa, vaccinations, insurance) 51000 Registrations and subscriptions 52000 Conferences, Workshops & Meetings 54000 Books & Reference Material 60000 Staffing - basic gross 60100 Staffing - social security 60200 Staffing - allowances 60300 Staffing - training costs 60400 Staff - pension 60500 Staffing - medical insurance 60600 Staffing - others insurances 60700 Staffing - others costs 71000 Media and publicity 71100 Website development & maintenance 71200 Marketing and branding 72000 Airtime & Internet 72100 Software and other subscriptions 72200 Postage & Shipping 73000 Printing & Copying 73300 Occupancy 73120 IT Hardware 74000 Legal and professional fees 75000 Bank charges Exchange Gain or Loss 5 Establishment expenses Depreciation |
2025 USD - 287,416 1,000 |
2024 USD 20,289 28,411 4,861 |
|---|---|---|
| 288,416 | 53,561 | |
| 9,315 1,021 2,197 12,352 38 1,064 470 3,351 - 249,524 - 782 534 8,363 2,368 875 2,612 4,797 6,526 2,233 6,333 11,271 737 175 320 - 78,624 2,867 1,911 |
- - - 1,936 - - 108 1,280 60 68,673 1,034 166 - 583 2,200 - - - 3,169 486 1,623 3,077 169 132 63 216 28,555 477 461 |
|
| 410,661 | 114,467 | |
| 919 | 653 | |
| 919 | 653 |
12
Doc ID: 3ec9f4ff1af28f8f81210276b690ecae6aeab9c1
Alliance For Women And Girls (AFWAG) Annual report and financial statements As at 31 March 2025
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
- 6 Property, plant and equipment
| Year ended 31 March 2024 Cost As at 1 April 2024 Additions As at 31 March 2025 Depreciation As at 1 April 2024 Charge for the year As at 31 March 2025 Net book value Cost As at 1 April 2023 Additions As at 31 March 2024 Depreciation As at 1 April 2023 Charge for the year As at 31 March 2024 Net book value |
13200 IT Equipment USD 3,263 1,330 4,593 653 919 1,572 3,021 - 3,263 3,263 - 653 653 2,610 |
Total USD 3,263 1,330 |
|---|---|---|
| 4,593 | ||
| 653 919 |
||
| 1,572 | ||
| 3,021 | ||
| - 3,263 |
||
| 3,263 | ||
| - 653 |
||
| 653 | ||
| 2,610 |
14
Doc ID: 3ec9f4ff1af28f8f81210276b690ecae6aeab9c1
Alliance For Women And Girls (AFWAG) Annual report and financial statements As at 31 March 2025
NOTES TO THE FINANCIAL STATEMENT(Continued)
| 2025 | 2024 | ||
|---|---|---|---|
| USD | USD | ||
| 7 | Cash and cash equivalents | ||
| Cash at Bank | 7,967 | 13,291 | |
| Net cash and cash equivalents | 7,967 | 13,291 | |
| For the purpose of the cash flow statement, cash and cash equivalents comprise the following: | |||
| Cash at bank and in hand | 7,967 | 13,291 | |
| USD | USD | ||
| 8 | Trade and other Payables | ||
| Trade payables | 2,527 | 1,671 | |
| Accrued Expenses | 3,000 | 1,500 | |
| Net salary payable | 3,948 | ||
| Loan Accrual | 10,061 | 74,290 | |
| Tikititamu Investments Ltd | 26,581 | - | |
| 21503 Lawley Consultancy | 149,594 | - | |
| 195,711 | 77,461 |
9 Incorporation
Alliance for Women and Girls was incorporated as a Trustee on 15 November 2023.
10 Currency
The financial statements are presented in United States Dollar (US$) and are rounded off to the nearest US$.
15
Doc ID: 3ec9f4ff1af28f8f81210276b690ecae6aeab9c1
2.3 AFWAG Draft Financial statements FYE 31032025 2.3 AFWAG Draft F... FYE 31032025.pdf 3ec9f4ff1af28f8f81210276b690ecae6aeab9c1 DD / MM / YYYY Signed
| 19 / 12 / 2025 | Sent for signature to Vongai Nyahunzvi (vongai@afwag.org) |
|---|---|
| 14:38:49 UTC+3 | and Alex Mutambudzi (alex.mutambudzi@googlemail.com) from |
| cassandra@afwag.org | |
| IP: 105.160.102.111 | |
| 19 / 12 / 2025 | Viewed by Vongai Nyahunzvi (vongai@afwag.org) |
| 15:17:04 UTC+3 | IP: 86.6.220.61 |
| 19 / 12 / 2025 | Viewed by Alex Mutambudzi (alex.mutambudzi@googlemail.com) |
| 15:18:41 UTC+3 | IP: 31.126.150.79 |
| 19 / 12 / 2025 | Signed by Alex Mutambudzi (alex.mutambudzi@googlemail.com) |
| 15:20:28 UTC+3 | IP: 31.126.150.79 |
| 19 / 12 / 2025 | Signed by Vongai Nyahunzvi (vongai@afwag.org) |
| 16:05:06 UTC+3 | IP: 86.6.220.61 |
| 19 / 12 / 2025 | The document has been completed. |
| 16:05:06 UTC+3 |
ALLIANCE FOR WOMEN AND GIRLS MANAGEMENT LETTER FOR THE YEAR ENDED 31 MARCH 2025
JANUARY 2026
1
TABLE OF CONTENTS PAGE
| PAGE | |
|---|---|
| 1. | INTRODUCTION ................................................................................................................................................................................................................... 4 |
| 2. | SUMMARY OF POINTS ARISING FROM CURRENT PERIOD’S AUDIT........................................................................................................................... 6 |
| 3. | COMMENTS AND OBSERVATIONS ON THE ACCOUNTING RECORDS, PROCEDURES, SYSTEMS AND CONTROLS ........................................... 7 |
| 4. | FINDINGS, IMPLICATIONS AND RECOMMENDATIONS ................................................................................................................................................ 10 |
16 January 2026
The Management, Alliance for Women and Girls, 167-169 Great Portland street, 5th Floor, London.
Dear Sir/Madam,
MANAGEMENT LETTER FOR THE YEAR ENDED 31 MARCH 2025.
In connection with the audit for the year ended 31 March 2025 and in accordance with our firm’s normal practice, we are repor ting on certain matters that came to our attention during the course of our audit. In planning and performing our audit of Alliance for Women and Girls (AFWAG) for the year ended 31 March 2025, we considered its internal control structure to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on the internal control structure.
Our review of the organization’s system of internal control is carried out to assist us in expressing an opinion on the organization’s financial statements. This work is not primarily directed towards the discovery of weaknesses, the detection of fraud and other irregularities other than those which would influence us in forming that opinion and should not therefore, be relied upon to show that no other weaknesses exist or that no other areas require attention. Accordingly, the comments in this letter refer only to those matters, which have come to our attention during the course of our normal audit work and do not attempt to indicate all possible improvements, which a special review might develop.
The management is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in a ccordance with management’s authorization and recorded properly to permit the preparation of the financial statements in accordance with the Standard Procedures for Alliance for Women and Girls. Because of inherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not be detected. Our consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be material weakness.
Based on our audit of the organization’s financial statements for the year ended 31 March 2025, we have included below the su mmary of audit findings and a detailed report of our findings and recommendations for improvements in procedures and controls.
1. INTRODUCTION
i) Background
We have set out below; issues identified during the course of our normal audit work but have not attempted to indicate all possible improvements which a special review might develop.
ii) Classification
The identified issues have been classified into the following categories in this key issues letter.
Business issues
We have included our comments on general operations observations and our recommendations.
Financial controls recommendations
For certain identified accounts/processes, we have detailed the business risks and our control recommendations. In addition, we have also included efficiency recommendations as areas of improvement, on certain areas.
iii) Ranking
The issues have been ranked as high or medium risk using the criteria described below: -
High: A major weakness or recurring issue which must be addressed soon - urgent remedial action is required. Key internal controls are absent or are not complied with on a regular basis. There is a fundamental weakness or deficiency in an internal control or in a series of internal controls which involves a substantial risk of either material error, or irregularity or fraud with regard to the expenditure and revenue stated in the Financial Report of the Programme. There is a substantial risk of failure to achieve the control objectives for the Programme which concern reliability of financial reporting, effectiveness and efficiency of operations and compliance with applicable laws and regulations notably the Contractual Conditions for the Programme. Such risks could lead to an adverse impact on the financial report of the Programme. Remedial action should be taken urgently.
Medium:
An important matter which will significantly improve the control environment, the accounting system or operations of the programme - prompt specific action is required . There is a weakness or deficiency in an internal control or in a series of internal controls which, although not fundamental, relates to shortcomings which expose specific internal control areas (e.g. cash and bank management or budgetary and expenditure control) to a less immediate level of risk of either error, or irregularity or fraud. Such a risk
could impact on the effectiveness of the internal controls and on the internal control objectives and should be of concern to the Entity's management. Prompt specific action should be taken.
Low:
A minor or isolated weakness which should be addressed to improve the control environment, accounting system or operations of the programme - specific remedial action is desirable . There is a weakness or deficiency in internal control which individually has no major impact but where the Programme would benefit from improved internal controls and/or where the Entity would have the opportunity to achieve greater effectiveness and/or efficiency. There is a possibility of undesirable effects at the process level, which, combined with other weaknesses, could give cause for concern.
Alliance For Women And Girls Management Letter Year ended 31 March 2025
2. SUMMARY OF POINTS ARISING FROM CURRENT PERIOD’S AUDIT
| Ref | Summary of the Issues/Weaknesses | Priority (High/Medium/Low) |
|---|---|---|
| 4.1 | Streamliningof finance and administration manual to operations | Medium |
| 4.2 | Inadequate internal control framework | Medium |
6
Alliance For Women And Girls Management Letter Year ended 31 March 2025
3. COMMENTS AND OBSERVATIONS ON THE ACCOUNTING RECORDS, PROCEDURES, SYSTEMS AND CONTROLS
3.1 Comments on the accounting systems and internal controls
| Comments and observations | Implication | Recommendation | Responsibility and Implementation Date Ranking: Low Individual Responsible: COO Implementation Ongoing (Immediate and continuous) |
|---|---|---|---|
| AFWAG maintains its records in an accounting system: Quick books. As part of our procedures, we reviewed the finance manual, budget and work plans, financial statements, operational manuals, ledgers, meeting minutes, bank statements and reconciliations, fixed asset register, and other relevant documents. Except for the internal control issues highlighted in our report, AFWAG has put in place adequate controls to ensure payments are budgeted for, reviewed and approved before payments can be effected. Controls are in place to ensure transactions are reviewed and posted in the accounting system and that there is adequate audit trail between the transactions in the accounting system, financial report and supporting documentation. |
Payments are well supported, budgeted for, approved and there is adequate audit trail. |
The Entity should ensure that the controls in place are upheld throughout the project implementation. |
|
| Management Comments: Management acknowledges the auditors’ observation. AFWAG confirms that it has established adequate accounting systems and internal controls, including the use of QuickBooks, an approved finance manual, budgeting and approval processes, and documented audit trails for all transactions. We are committed to consistently upholding and strengthening these controls throughout project implementation. Ongoing oversight will be maintained through periodic internal reviews, adherence to approved budgets and work plans, and continuous compliance with established financial and operational policies. |
7
Alliance For Women And Girls Management Letter Year ended 31 March 2025
3.2 Comments on Governance systems
| Comments and observations | Implication | Recommendation | Responsibility and Implementation Date Ranking: Low Individual Responsible: BOT |
|---|---|---|---|
| Reviewed and evaluated the Governance systems in place at AFWAG and observed that there is an operational Trust Deed dated 15 November 2023 which spells out among other details, the establishment and composition of the Board of trustees and Trust Fund, Objects of the Trust, their powers, duties and obligations. Although the trust deed does not specify the frequency of Board of Trustees meetings, we noted that the Trustees met quarterly in the year 2024-2025. In those meetings, a quorum was present, and the Trustees appeared to have carried out their oversight responsibilities. |
Based on our review, the Trustees have demonstrated effective oversight during the period under review. Meetings were convened with the required quorum, and the discussions and decisions recorded indicate that the Trustees exercised their governance and fiduciary responsibilities in line with their mandate. |
The Trustees should ensure they continue to meet regularly and that the Oversight duties being carried out on AFWAG are upheld. |
|
| Management Comments Management notes and appreciates the auditors’ observation regarding the effectiveness of AFWAG’s governance systems. The Board of Trustees operates under an approved Trust Deed which clearly outlines the Board’s composition, powers, duties, and responsibilities. We confirm that Trustees met during the period under review, with quorum present, and exercised appropriate oversight as evidenced by meeting records and documented decisions. |
8
Alliance For Women And Girls Management Letter Year ended 31 March 2025
3.3 Comments on compliance with Grant agreements and Statutory compliance
| Comments and observations | Implication | Recommendation | Responsibility and Implementation Date Ranking: Low Individual Responsible: CEO |
|---|---|---|---|
| During the period, AFWAG received funding from Corporate organisations, Foundations and Individuals. We ascertained whether the Grant and loan agreement terms were complied with including checking whether the reporting requirements were complied with. We also ascertained whether the Entity had complied with the statutory requirements. |
We did not come across any non-compliance issues with Grant agreements. |
AFWAG should ensure it upholds the practice of ensuring it complies with the Grant Agreements. AFWAG should ensure tax provisions are respected especiallyduring payments. |
|
| Management Comments Management acknowledges the auditors’ observation and confirms that AFWAG maintains a strong compliance framework for grant,loan, and statutory obligations. During the period under review, the organisation complied with all grant and loan agreement terms, including reporting requirements, with no instances of non-compliance noted. We are committed to sustaining this practice and will continue to ensure full compliance with all grant agreements. In addition, management will continue to strengthen oversight of statutory and tax obligations, ensuring that applicable tax provisions are correctly applied and respected during all payments. |
9
Alliance For Women And Girls Management Letter Year ended 31 March 2025
4. FINDINGS, IMPLICATIONS AND RECOMMENDATIONS
4.1. Streamlining of finance and administration manual to operations
| Observation | Implication | Recommendation | Responsibility and Implementation Date Ranking: Medium Individual Responsible: COO & Finance Implementation Date: Immediate, with full compliance effective from FY25/26 |
|---|---|---|---|
| Description of the finding: During the audit, the team identified the following clauses in the finance and administration manual that were not implemented: 2.6 Property and equipment: AFWAG capitalizes all individual items of equipment above $2,500 in cost. Assets of lower purchase value capitalized in the year. |
This could lead to inflation of Property, Plant & Equipment (PPE) and misrepresentation of the entity’s asset base. |
Management should ensure that the operations are tailored to the finance and administration manual in place to ensure controls are implemented. |
|
| Management takes note of the misalignment between the draft finance and administration manual to the operations in regards to capitalization policy. The assets owned by the organization have values below the amount captured as threshold in the draft manual. The manual is at the final stages of improvement and we’ll ensure the capitalization policy is aligned accordingly. |
10
Alliance For Women And Girls Management Letter Year ended 31 March 2025
4.2. Inadequate internal control framework
| Observation | Implication | Recommendation | Responsibility and Implementation Date Ranking: High Individual Responsible: COO & Finance Implementation Date: |
|---|---|---|---|
| Description of the finding: Best accounting practice requires the company to have a system of payments approval and segregation of duty in payments process. Currently, AFWAG does not maintain payment vouchers as evidence that payments made have undergone the required approval process and that segregation of duties was observed. |
It may be difficult to keep track of company’s expenses in the absence of payment vouchers. Errors could pass undetected in the absence of segregation of duties. |
Management should adopt use of payment voucher system. In addition, the functions of one person should be reviewed by another. |
|
| Management Comments Management acknowledges the high-risk observation regarding the absence of payment vouchers and the need to strengthen segregation of duties within the payments process. While payment approvals have been occurring through documented budget approvals, management review, and supporting documentation, the lack of a formal payment voucher system limits the visibility and consistency of approval evidence and segregation controls. We agree with the recommendation and has prioritised the formal adoption of a payment voucher system to clearly document payment initiation, review, approval, and posting. This will strengthen audit trails, improve expense tracking, and reduce the risk of errors or control gaps. In addition, we will reinforce segregation of duties by ensuring that payment initiation, approval, and accounting review are performed by different individuals where feasible, with compensating controls applied in cases of capacity constraints. |
11
Alliance For Women And Girls Management Letter Year ended 31 March 2025
PRIOR PERIOD TRACKING
| No | Finding | Recommendation | Status | AFWAG Comments |
|---|---|---|---|---|
| 1 | Inadequate internal controls framework: Best accounting practice requires the company to have a system of payments approval and segregation of duty in payments process. Currently, AFWAG does not maintain payment vouchers as evidence that payments made have undergone the required approval process and that segregation of duties was observed. |
Management should adopt use of payment voucher system. In addition, the functions of one person should be reviewed by another |
Not Implemented |
AFWAG has updated its Finance Policy and related supporting documentation to formally introduce a payment voucher system and strengthen segregation of duties within the payments process. These controls will be implemented immediately in FY25/26 and applied consistently going forward. Management has prioritised this update to improve approval visibility, audit trails, and overall internal control effectiveness, and will monitor compliance as part of routine financial oversight. |
| 2 | Monthly bank reconciliations not performed Best practice requires that bank reconciliations be prepared and reviewed on a monthly basis. During the year under review, AFWAG did not prepare bank reconciliations on a monthly basis. |
Management should ensure that monthly bank reconciliations are performed and reviewed on a monthly basis. |
Implemented | AFWAG has strengthened its financial controls to ensure that bank reconciliations are prepared and reviewed on a monthly basis. This process is now embedded in the finance close procedures, with clear accountability for preparation and independent review. Management will continue to monitor compliance to ensure reconciliations are completed accurately and on time each month. |
12
Alliance For Women And Girls Management Letter Year ended 31 March 2025
CONCLUSION
We would be grateful if you could keep us informed of changes that are made to existing systems from time to time .
This report has been prepared for your private use. It should not be disclosed to a third party without our written consent, nor do we assume responsibility in respect of its contents to any other person.
We take this opportunity to express our gratitude to you and your staff for the co-operation and assistance, which we received during the course of our audit.
Yours faithfully,
Lexan & Associates
13