OI-Risk & Financial Adv.

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Regardless of a client’s industry or whether an internal audit department already exists, SJE creates a framework individually suited to meet each company’s needs, working in partnership with you to create the right internal audit solution. 

We take a uniquely hands-on approach, drawing on specialists where appropriate, and our partners are deeply involved in the work we do. We also offer our clients resources backed by a network of professionals for various services including but not limited to the following : 

• Internal Audit Outsourcing
• Internal Audit Co-Sourcing
• Internal Audit Partnering
• Quality Assurance Review
• Process and Internal Controls Consulting
• Audit Committee Advisory
• Continuous Auditing Monitoring 

Regulations vary in scope across jurisdictions and can greatly affect companies when they change, not just in terms of compliance but also as they relate to financial implications. While change may be difficult to navigate, it also creates a chance to simplify processes and procedures.

Our team of experts helps clients understand the rules that govern their business and brings a deep understanding through regulatory compliance, advisory, and financial services. Using our proprietary methodologies and tools, BDO advises and assists clients on creating proper internal controls to coincide with changes in regulations and standards.

We realize that achieving compliance can be time-consuming and costly, and we make every effort to simplify the process through straightforward, simplified advice.

Our professionals have extensive experience in advising clients on the compliance requirements stipulated by the regulatory authorities such as Dubai Financial Services Authority and the Abu Dhabi Global Markets. In assessing and evaluating regulated clients’ internal control system and processes, we review, amongst other things, the following key areas:

• Compliance with the DFSA Modules: General (GEN), Conduct of Business (COB), Prudential – Investment, Insurance, Intermediation and Banking (PIB)
• Compliance with the Financial Services Regulatory Authority requirements
• Timely submission of returns, capital adequacy monitoring process
• Conflicts of interest, personal account dealings, record keeping
• AML policies and procedures and suspicious transactions reporting
• KYC process

 Everything an individual doe entails risks, whethere strategic, financial, operational, IT, compliance, legal parametres etc. This is part and parcel of running a business. The question is, must how to avoid, minimise and or eliminate them at all costs? 

Be cautious, risks is impossible anyway - but practice a calculated and decisive amicable approach . The essence of effective risk management is not so much a matter of eliminating the risks as it is one where you (and your board of directors) know them, assess them correctly and keep them under control. 

Internal controls over financial reporting (COSO and SOX) 

Continuous monitoring of internal controls over financial reporting through internal controls frameworks such as SOX and COSO has dramatically changed the financial reporting landscape. 

SJE has helped our clients produce innovative ways to generate value while maintaining compliance. We go beyond assisting management to meet the minimum standards  - we help them improve their internal control over financial reporting processes and create synergies across the entire organization.

Our Risk Advisory professionals have years of experience advising clients on the best ways to design systems that will not only meet compliance but will improve business processes as well.

Our risk advisory professionals understand and recognise the cost of maintaining compliance, and assist companies develop a model best suited for their operations – which works for them without compromising on the key compliance requirements. We do this by carefully engaging with our clients.

Sound corporate governance practices are of paramount importance in an increasingly complex business environment. Against the backdrop of an ever-changing business landscape and increased competition, a robust corporate governance system helps to safeguard a company’s interests while generating sustainable long-term returns.

Developing and implementing a good corporate governance framework facilitates strategic decision making, efficient utilization of resources and results in better regulatory compliance.  

SJE's team of professionals draw from a vast wealth of knowledge of internationally accepted codes of best practices in designing and delivering tailor-made corporate governance solutions. Our customized solutions includes, but is not limited to, the following:

• Roles and responsibilities of shareholders and Board of Directors
• Culture (governance, risk and control)
• Three lines of defense
• Control environment maturity assessment
• Board, committees and management communication
• Board and committee composition and effectiveness
• Whistle blowing and code of conduct
• Compliance with establishment law, rules and regulations
• Stakeholder management
• Authority matrix and delegation of authority

The world is rapidly changing. And even though constantly evolving technologies bring plenty of benefits, they’re also creating a new set of risks that companies must face. 

SJE IT Risk Advisory team takes an innovative approach to our risk management methodologies to address these risks and help keep your company safe.  

Our experienced professionals understand these risks and keep up-to-date with the ongoing transitions in today’s world. Our services can help your organization accelerate its IT risk and compliance programs in the following ways: IT Audit, SOX Information Technology Controls, IT Risk Assessments and Cybersecurity Audits. 

Sometimes, our clients know what areas they want us to focus on; in others, we start by performing a thorough assessment. In both cases, we provide tailored recommendations based on what we find, relying on decades of experience and insight. We also leverage the knowledge gained from continuous active involvement in the IT industry; our professionals regularly attend meetings and trainings with industry leaders to stay on top of the latest developments.