We understand the threats that your business may face. From the global banking crisis to the rise of cybercrime, recent history demonstrates the importance of identifying threats, and the appropriate response, at an early stage.
As a result, we are active, not reactive, and provide support and guidance as your systems and processes develop. To enhance the value that you deliver to your stakeholders, we can assist you in protecting your business and its success.
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 is the system by which companies are directed and controlled. Boards of directors are responsible for the governance of their companies. The shareholders’ role in governance is to appoint the directors and the auditors and to satisfy themselves that an appropriate governance structure is in place.
The Ministry of Industry, Commerce and Tourism issued the Decree No. (19) for 2018 concerning the issuance of the Corporate Governance code, and is applicable to all joint stock companies incorporated in Bahrain expect for those licensed by the Central Bank of Bahrain.
We can assist you with aligning your company's practices with the CG Code, 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.
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 and GDRP requirements. Our approach starts with conducting a Gap Assessment to identify where the company currently stands in terms of meeting both GDPR and 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.
Fraud, disputes and professional negligence are growing concerns for all organisations 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.
Information systems assurance
Information security and business continuity measures are important and potentially costly areas for all organisations. Businesses are increasingly reliant upon electronic data and supporting technology to connect to customers, vendors and the general public. If systems are faulty in design, lack effective controls or security management is poor, this may have serious financial, legal or reputational implications.
Our information systems assurance advisors will gain an understanding of your organisation and the specific risks you face in relation to data security and integrity. By applying our experience and expertise we will identify and manage immediate risks, while considering your corporate objectives, to provide critical and effective solutions that will meet your needs.
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 will explore ways to meet your objectives and to improve upon existing arrangements and operations. 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 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).
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 management specialists 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.