The recent times have brought an enormous change in the way we do business. Markets world over are awakening to the need of strategic and tactical planning to reach business success. Ignorance of risk in planning and implementation could make an organization more vulnerable and susceptible to risk and cause severe impact on profitability.

Day to day business operations have evolved to register more complexity, as organisations are engaged in multiple business relationships with vendors, shareholders and investor. Each of these bears a significant impact on the organization’s decision making process. It is therefore vital to the functioning of the business that, while expectations are being met with, these relationships are guarded by prudent set controls. Risk management must transcend from a single department function, to integrate with the very fabric of an organisation’s functioning.

Building a Conducive Environment for Business Growth

As business opportunities increase, risk exposure becomes inevitable. Risk management provides a guided approach in pursuing business objectives with addressing and mitigating opportunity risks.

Risk, if managed effectively, allows organisations more freedom in planning for future growth. It provides a broader outlook into future opportunities while keeping a firm focus on the possible risks at hand. A robust risk management framework equips an organisation with an added edge to effectively manage shareholder expectation, gain investor confidence, capitalize on growth opportunities at the same time maintain a sharp focus on risk.

Identify your risk

Al Basha Chartered Accountants in the UAE works with senior management across organisations to help them better profile their risk exposures and develop robust control systems and measures. Our experienced risk consulting specialists offer timely and practical advice in mitigating risk and enhancing opportunity.

Enterprise Risk

Take a Comprehensive Approach to Enterprise Risk Management

Taking a proactive stance leads to more effective strategies to minimize the downside while maximizing the upside of risk.

Al Basha Chartered Accountants helps you look at how risk is managed throughout your organization so you can be empowered to react timely, decisively, and profitably within today’s complex global marketplace. Specifically, they provide a practical, five-step approach to core enterprise risk management (ERM):

  • Organize the effort
  • Establish a framework
  • Conduct risk assessments and risk analyses
  • Inventory risk responses
  • Implement risk-response monitoring

Our professionals pave the way for setting clear priorities and moving forward with effective risk-management practices by helping you:

  • Link risk management to achievement of operational goals and strategic objectives
  • Obtain greater transparency into enterprise-wide risks
  • Establish accountability for management of specific risks
  • Address high-priority concerns of board members and other key stakeholders

Regulatory Risk

Improving Regulatory Compliance Leads to Strong Corporate Governance

Each industry has different regulatory risks, and these challenging regulations are changing all the time. Sidestepping or ignoring complex regulations may affect other risk areas – such as fraud and technology risk – and lead to heavy fines, loss of internal control, and even prosecution.

Many organizations have compliance functions to address various regulations, which in turn drive good corporate governance. Sarbanes-Oxley Act (SOX) compliance enables public companies to assure stakeholders they are strengthening internal controls over financial reporting, an element of effective corporate governance for these companies.

Al Basha Chartered Accountants can help you anticipate regulatory changes, develop pragmatic solutions, streamline compliance processes, and modify organizational structures. These efforts will improve the effectiveness of risk management, compliance, and internal audit. Specifically, they can assist with:

  • Sarbanes-Oxley 404 (SOX)
  • Anti-Money Laundering (AML)
  • Gramm-Leach-Bliley Act (GLBA)
  • Foreign Corrupt Practices Act (FCPA)
  • International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC)
  • Payment Card Industry (PCI) compliance
  • Pre-Initial Public Offering (IPO) compliance readiness
  • Mortgage Credit Directive (MCD)
  • International Financial Reporting Standards (IFRS) conversion consulting
  • Health Insurance Portability and Accountability (HIPAA) and the Health Information Technology for Economic and Clinical Health (HITECH) Act
  • Statement on Auditing Standards (SAS) No. 70 and Statement on Standards for Attestation Engagements (SSAE) No. 16 services.

Wherever your company is on the compliance journey, from cost reductions, performance improvement, and compliance aggregation to complete enterprise risk management (ERM), our extensive experience in large and complex compliance engagements and readiness to respond to an organization’s rapidly expanding global regulatory needs can give you the edge you’ve been looking for.

Corporate Governance

Manage Risk and Achieve Compliance With Stronger Corporate Governance

Strong corporate governance promotes effective risk management. And strong risk management is the key to solid compliance. Although achieving world-class corporate governance may seem to be a complicated effort, it doesn’t have to be. A strong framework is the start.

Al Basha Chartered Accountants has developed the Corporate Governance Framework™ to help organizations manage risks, identify gaps, and close these gaps for improved performance and stronger corporate governance.

Al Basha Chartered Accountants views corporate governance as the systems and processes an organization has in place to protect and promote the interests of its diverse stakeholder groups.

They help companies analyze their systems and processes and present the information in a governance scorecard, which includes the seven components of governance and the maturity of the governance process. This high-level analysis has proved meaningful to companies and boards of directors and helped them gauge governance strengths and identify areas for improvement. This methodology helps organizations:

  • Identify current governance processes where business risks are not being mitigated effectively;
  • Implement solutions to strengthen corporate governance;
  • Retain talented employees, executives, and directors

Reduce the cost of capital and enhance value to stakeholders.

Corporate Finance

Where is your organization headed? Are you looking to grow or diversify through an acquisition or merger? Do you require capital or are you looking to list on the stock exchange? Is the best course of action to downsize and divest lower-performing assets? Or are you looking to exit from your existing business? These are the sort of questions we answer and act on every day.

Our highly experienced Global Corporate Advisor teams of corporate finance professionals throughout the world can help guide your organization through the tumultuous waters of mergers and acquisitions, accurately assessing your situation, and helping you put a successful strategy in place. The specific services Global Corporate Advisors can provide include:

  • Initial Public Offers
  • Acquisition Advisory
  • Divestiture Advisory
  • Management Buy-Outs & Buy-Ins