Regulatory And Compliance Risk in UAE

Compliance risk is the threat posed to an organisation’s financial or reputational standing resulting from violations of laws, regulations, codes of conduct, or organisational standards of practice.

Compliance risk is the threat posed to an organisation’s financial or reputational standing resulting from violations of laws, regulations, codes of conduct, or organisational standards of practice.

In a highly regulated business environment like the UAE, strict guidelines have been established, and an organisation could potentially face stiff penalties in the event it’s found guilty of a compliance failure. Companies across all industries are navigating a proliferation of diverse regulatory requirements, stakeholder expectations, and business model changes.

As such, to mitigate against risk exposure, organisations are required to tighten their risk assessment process to fully incorporate compliance risk exposure.

Our team brings deep regulatory experience and know-how to help your business build a compliance function that aligns with the vison, strategies and capabilities of the organisation.

Our ethics and compliance professionals will;

  • Initially conduct a risk assessment of your business to understand the full spectrum of compliance risks lurking in each part of the business that could impact theorganisation’s ability to achieve its strategic objectives.
  • We will then assess which risks have the greatest potential for legal, financial, operational, or reputational damage and advice appropriately, to mitigate those risks.
  • Our compliance officers will then develop pragmatic solutions, streamline compliance processes, and modify existing organisational structures, to help improve the effectiveness of risk management, compliance, and internal audit. Our compliance risk assessment is likely to consider operational and legal or regulatory compliance risks.

Apart from the above-mentioned, our team can also assist with:

  • Outsourced Compliance /Money Laundering Reporting Officers for DFSA regulated firms and others
  • Anti-Money Laundering (AML) and Compliance advisory, audit and training
  • Complete end-to-end assistance with incorporation/authorisation for new firms in the DIFC and elsewhere
  • Drafting of documents/manuals including compliance / AML manuals and compliance monitoring programmes
  • Pre-Initial Public Offering (IPO) compliance readiness
  • International Financial Reporting Standards (IFRS) conversion consulting; and
  • Outsourced Company Secretary services to firms in the DIFC and also provide outsourced independent Director Services to organisations

Our models and technological platform enables organisations to stay up to date with the regulatory requirement and also helps their current systems to be tuned up to the latest developments to meet up with the ever evolving regulatory landscape.

Berkeleyme Consultants

Berkeleyme Consultants

What You Need to Know About Us

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