completed

Auditing African Proposals, by WADA

$23,000.00 Received
$23,000.00 Requested
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Community Review Results (1 reviewers)
Addresses Challenge
Feasibility
Auditability
Solution

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

Problem:

<p>Difficulty in auditing proposals in a growing community means scalability is affected</p>

Yes Votes:
₳ 75,010,997
No Votes:
₳ 27,721,472
Votes Cast:
437

This proposal was approved and funded by the Cardano Community via Project F6: Improve and Grow Auditability Catalyst funding round.

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Detailed Plan

<u>Main Deliverable</u>

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

———IMPACT––––

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———

<u>Past Successes and Future Outlook:</u>

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.

<u>Roadmap:</u>

  • 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.

<u>Budget breakdown:</u>

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

———AUDITABILITY–––––

<u>What success looks like:</u>

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

<u>Key Metrics:</u>

  • 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

<u>Risk Management:</u>

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

<u>Affiliated proposals:</u>

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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Community Reviews (1)

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Monthly Reports

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Disbursed to Date
$23,000
Status
Still in progress
Completion Target
7/21/2022
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Disbursed to Date
$23,000
Status
Still in progress
Completion Target
7/15/2022
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Disbursed to Date
$23,000
Status
Still in progress
Completion Target
7/7/2022
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N/A

Disbursed to Date
$23,000
Status
Still in progress
Completion Target
8/15/2022
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Disbursed to Date
$23,000
Status
Still in progress
Completion Target
2. In the next 3 months
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End of Project report to be sent next month

Disbursed to Date
$23,000
Status
Complete
Completion Target
1. In the next month
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Close out report to be shared next month

Disbursed to Date
$23,000
Status
Complete
Completion Target
1. In the next month
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Project is in the process of closing out. Close out report will be submitted within the month.

Disbursed to Date
$23,000
Status
Complete
Completion Target
1. In the next month
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Comments 0

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