How do you audit information supplied by developers? What elements of ‘on-the-ground’ monitoring will be done by a CEV staff member?
An annual or bi-annual site visit would be a standard part of our investment protocol, to verify a project’s on-the-ground status. This is part of conventional financial valuation and due diligence, to be aware of dynamics in the management team, staff, changes in local circumstances, and other variables that might impact business feasibility. As part of the site visit, we would conduct a random audit of 5-15 indicators, about 20% of indicators being monitored by a development; the site visit team would evaluate accounting and paperwork as part of the auditing process.