Our team of professionals works with clients to improve the effectiveness and efficiency of their compliance frameworks to meet the requirements of regulatory bodies. We are up to date with all developments and are ready to provide you with advice and assistance that is technically correct, practical and commercially astute. By working with clients in an atmosphere of trust and openness, business and regulatory issues can be addressed in a robust commercial way. This approach is evidence that working with the appropriate advisors can enhance the ability of the organisation to deliver value to its stakeholders.
Anti-Money Laundering Compliance
The financial services industry continues to face increase anti-money laundering compliance pressure from governmental and regulatory authorities. Our team of experienced professional can assist you with reviewing your anti-money laundering systems and control, and addressing deficiencies to ensure compliance with AML laws and regulations. We can also assist you in fulfilling your obligation to report to the Central Bank of Bahrain (CBB) on the effectiveness of your AML/CFT procedures, systems, and controls; and addressing the GAPs.
Corporate Governance Consulting
We can assist you with aligning your company's practices with the Corporate Governance Code (issued by Decree No. 19 for 2018), by perfroming GAP analysis to identify the current level of compliance, designing an action plan to address the gaps, and implementation of the action plan.
The increased focus on governance, risk, and controls has raised the profile and responsibility of internal auditors, who are assuming a more strategic role within all organisations. We can provide a range of support including fully outsourced solutions, to working in partnership with your in-house internal audit teams, as well as individual reviews of specialist business areas such as IT, Data Privacy, etc. Such delivery models offer the advantage of scalability and flexibility, which is especially beneficial in the current economic climate. Our audit teams provide internal audit services of the highest quality to suit the needs of your business and your stakeholders. The approaches adopted comply with the International Professional Practices Framework (IPPF) issued by the Institute of Internal Auditors (IIA).
Data Privacy and Protection
On 12 July 2018, the Kingdom of Bahrain (Bahrain) issued Law No. 30 of 2018 on the Personal Data Protection Law (PDPL) which entered into effect on 1 August 2019. The PDPL is modelled on the European Union's General Data Protection Regulation (GDPR) which was implemented in May 2018. We can assist you in acheiving full compliance with both the PDPL (as well as GDRP requirements). Our approach starts with conducting a Gap Assessment to identify where the company currently stands in terms of meeting PDPL regulations, identifying the clear missing items, key risks, and issues that need prompt attention. Subsequently an implementation roadmap is developed and presented to the management. The final phase involves implementation to address gaps identified.
Forensic Accounting and Fraud Investigations
Fraud, disputes and professional negligence are growing concerns for all businesses and require experts who can help minimise your exposure and address breaches of security. Such incidences can have serious consequences in terms of financial loss, business performance, negative publicity or regulatory infringement. Our integrated approach is designed to help prevent, detect, and investigate fraud. We have forensic accountants who are actively involved in civil and criminal cases before the High Court and Bahrain Chamber for Dispute Resolution - utilising accounting, auditing and investigation skills to deliver an expert opinion in clear terms.
The effective introduction, implementation and embedding of risk management systems within an organisation's own strategic and operational decision making processes is essential for an organisation's success. Our risk consultants can prepare a risk management strategy with policies covering your people, your computers and information systems and internal control procedures and security. In addition, we will provide management training to meet the specific needs of your organisation.