Auditing African Proposals, by WADA

WADA becomes a secondary support layer in the auditing of African proposals

WADA has already gained funding through Catalyst and understands the reporting process well. They are both on-the-ground and international.

Main Deliverable

Dedicated auditing team experienced in the reporting of Africa-based proposals, including platform development for reporting on metrics, financials and dApp performance.

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By hiring experienced community advisors and students familiar with auditing process in law and accounting departments, WADA will create a 3-month auditing program where auditors will be tasked with creating bi-monthly reports, articles and videos on their assigned proposals.

This will result in:

1. Increased visibility for the projects
2. A steady stream of updates
3. Improved tracking of performance metrics
4. A more robust auditing process as we identify best practices

-------FEASIBILITY---------

Past Successes and Future Outlook:

With several successfully funded proposals under its belt, WADA is well-placed to deliver an auditing program and hire the necessary resources from its partners (https://www.blockchainedu.org/) and from within its own network.

With a membership platform currently being developed, there is an opportunity to create an auditing function to include performance tracking, social media analytics and accounting features.

Roadmap:

• 30 days - Outline auditing process, framework and supporting documentation
• 30 days - Hire 10 students and CAs to carry out the auditing process, with program management by WADA.
• Expected public launch date: Jan 15th
• 90 days - Beginning in Fund 7, carry out audit until project completion or time duration is up.

Budget breakdown:

Admin team fees $6000
Auditing team fees $12000
Platform and development costs $4000
Marketing $1000

---------AUDITABILITY----------

What success looks like:

Successful audit of over 80% of proposals given. 90% completed within timeline and with 90% accuracy. At least 50 unique content pieces (articles and videos) are created on the proposals as a whole.

After a successful audit program, a resubmission in Fund 8 will take place for a larger program.

• 3 months: Auditors hired, projects identified and allocated, platform developed
• 6 months: Audits completed and reviewed, with unique content created for all projects
• 12 months: Application for larger audit program through Catalyst

Key Metrics:

• No. Proposals under audit
• No. Articles written
• No Reports delivered
• No. Video created
• No. Auditors in the program
• % Auditors completing the program
• % Audits completed 
• % Audits completed within the timeline
• % Audit completed with high accuracy (Rated by 'audit of the auditors' done by WADA team)
• Auditor Approval rating of the program

Risk Management:

Auditing standards: WADA will oversee the program and create documentation around auditing standards for the initial group of 10 to follow. After the program is successfully concluded, a review of these standards will take place, best practices from the program will be identified and incorporated into an updated handbook and a larger program will be submitted in a future funding round.

Auditors' commitment: By having an application process, we will only select those who have a demonstrated commitment to completing the program, as well as tying incentives to the completion of the audits, within the timeframe given.

Quality of content: Similarly, by our application process, but also by limiting the number of proposals under audit for each hire, as well as applying a bi-monthly cadence to the reporting times, we can ensure a high quality of output across individuals

Affiliated proposals:

Micropayments for Catalyst:

https://cardano.ideascale.com/a/dtd/Micropayments-for-Catalyst/366747-48088

TheCatalystSchool - Focusing Africa:

https://cardano.ideascale.com/a/dtd/TheCatalystSchool-Focusing-Africa/368891-48088

Scale up WADA's Outreach Program:

https://cardano.ideascale.com/a/dtd/Scale-up-WADA-s-Outreach-Program/366982-48088

Planting Roots in Africa:

https://cardano.ideascale.com/a/dtd/Planting-Roots-in-Africa/366767-48088

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Interested in contributing or partnering? Get in touch by sending a private message

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