- info@alberts.ae
- +971 52 469 9945
Risk Consulting Services in the UAE
Identify vulnerabilities before they are discovered by a regulator, fraudster or market event.
The biggest losses start with the little things that no one was aware of. One person may raise and approve payments. The team has not yet patched the system. The company did not adequately screen the customer. Alberts is able to identify such gaps and rank them according to their importance and close them in a logical sequence to help UAE businesses.
Corporate Group
Risk Costs Less When You Deal With It Early
The expenses associated with cleaning up after a fraud, data breach or regulatory penalty are significantly greater than the expenses of preventing them. The problem is that risk work is usually at the bottom of the priority list because of the daily pressures and the operators involved aren’t the most likely to assess their controls.
An external perspective is helpful. We assess your business from the perspectives of an auditor, a regulator, and a determined criminal, then rank the actions we believe you need to take. There are seven areas of risk consulting, which you can use individually or in combination, depending on where your concerns lie.
Our Risk Consulting Services
Internal Audit
A fresh perspective on the day to day operations of your business. We examine your processes and controls against your own policies and the rules you are subject to and report back to you in plain terms, and list the modifications in order of priority. If you suspect fraud rather than want a routine review, our Forensic Auditing team can step in.
Corporate Governance
Who determines what, who signs off and who checks the person signing? We define board and management responsibilities, approval limits, reporting lines, and conflict-of-interest policies, and document them to ensure future accountability. It is particularly beneficial for a family enterprise that has surpassed its founder, several entities within a family business or a company that is looking to have investors join the business.
Enterprise Risk Management
Risk arises in every department, but no one monitors it centrally. Businesses create a risk register, rate each risk by likelihood and impact, assign an owner, and set a review schedule. Management gets a good sense of what factors can derail the plan and not surprisingly, what factors they might want to take a little more risk to achieve.
Internal Controls Over Financial Reporting (ICOFR)
These include the checks ranging from who is able to journal an entry to the review of bank reconciliations. We record what controls you already have, confirm that they are effective and identify where a control might fail to prevent an error or misstatement. Even tighter control environment means your year end audit goes smoother.
Cyber Security
A cyber incident can disrupt operations, provide customers with access to information and erode trust in a matter of just one week. We check your systems, user permissions, backups and staff practices and provide you with a list of actions that will be prioritised for you. If you’re looking to obtain ISO 27001 certification in the future, continue onto our ISO certification service.
Business Resilience
What happens if your primary supplier fails or your office is unavailable for a week or a major staff member leaves on a short notice? We identify all the activities your business cannot live without, calculate the periods for which you may be able to survive without each of them, and draft continuity and recovery plans that your business staff can execute in the event of a crisis.
Anti-Money Laundering and Compliance
We assist you in implementing the programme regulators expect: Company-level risk assessment, customer due diligence procedures, screening, monitoring at transactions and staff training and clearly defined escalation procedure for any suspicious activity. We also support you in preparing for your reporting in goAML if relevant and identify any missing elements before an inspection calls them into question.
Signs You Could Use Risk Consulting
A supplier can be the creator, approver and payer of the same supplier invoice.
No one knows when your policies have been reviewed.
Your finance team members are using spreadsheets that only one person can read.
You have brought customers on without proper screening.
You have people that you no longer have access to in your IT access list.
You have never experienced what it’s like to have your systems go down for a few days.
How a Risk Review Runs?
Scoping
We agree what areas, entities and time period the review is to be undertaken in and who we will need to talk to.
Fieldwork
We examine your documents, interview staff/conduct actual transactions and setting tests.
Findings and Ranking
A written report is given, providing you with a rating for each issue, based on severity and urgency of the fix.
Fixing and Follow-Up
We support you in making the changes, and revisit them at a later time to see how they are working.
Enterprise Group
Why Businesses Choose Alberts for Risk Consulting?
An Accounting and Audit Background
An accounting and audit background experience is a prerequisite. We’re an accounting firm and an auditor, so we know all about the flow of cash in and out of a company, and where it can go during the process.
A Short List, Not a Thick Report
Findings are provided in a prioritized order to enable a busy owner to read it once and act upon it.
Sized for Your Business
There’s no need to put in place the controls of a bank in a 15 person trading company. We work to your size, industry and budget.
Independent and Discreet
We tell you what we see, even things that management doesn’t want to hear. What we see remains with the small group you have for your engagement.
Regulatory Institutions
Approvals & Accreditations
We take pride in our expertise and are ready to discuss the accreditations and affiliations we support, reinforcing your trust in our capabilities.
Our Team
Behind Our Success
We take pride in our expertise and are ready to discuss the accreditations and affiliations we support, reinforcing your trust in our capabilities.
Shakeel Minhas
CEO & Founder
Zaheer Shareef
Manager - Corporate Deals
Zeeshan Taimoor
Head of Book Keeping
Naveed Anjum
Head of Audit & ICV Certifications
Our Feedbacks
Clients are Talking
Discover the stories of success and satisfaction from our valued clients, and see how Alberts has made a significant impact in their professional journey.
Project Director
Partnering with Alberts for our ICV Certification was a game changer since 2020. Their expertise and tailored approach streamlined our process, aligning perfectly with our commitment to excellence and efficiency. Alberts' contribution has been invaluable in enhancing our operations and supporting our growth in the Middle East
Sr. Accounting Manager
Working with Alberts on our due diligence processes has been a transformative experience for Lyve Global. Their meticulous approach and in-depth analysis have provided us with critical insights, ensuring informed and strategic decision-making. Alberts' expertise and commitment to detail have been invaluable in navigating complex transactions, making them an essential partner in our business endeavors
Chief Investment Officer
FAQ'S
Frequently Asked Questions
Here are clear and detailed answers to some of the most frequently asked questions you may have.
What’s the difference between internal audit and external audit?
An external audit provides an opinion as to the fairness of the presentation of your financial statements. Internal audit focuses on the way the business operates, controls, process and compliance and reports to management throughout the year.
What’s the ideal frequency for an internal audit?
Most companies conduct one cycle per year and re-review more frequently of the higher risk items, such as cash handling or procurement. Once we get to know your business we will propose a timetable.
Do I need to abide by AML rules in my business?
It will depend on what you are doing. There are financial institutions, real estate brokers and agents, precious metal and stone dealers and corporate service providers. We will let you know if there are any rules and what you would need to implement in order to do so.
Does enterprise risk management exist in small companies?
No. For a smaller business, a simple risk register with less owners and a quarterly review may be sufficient. The idea is to have it periodically and document the results.
How long will a cyber security assessment last?
Depends on the number of systems, sites and users. Once you have made the scoping call, we’ll provide you with a realistic timeline!
Are you able to collaborate with our team?
Yes. Many clients request that we review and/or test their systems and they have their own people make the corrections. If you are interested in the changes we can support it too!
Let’s Look at Your Risks
If there is something you feel strongly about that is worrying you or something you want explained but you have been asked about by an auditor, bank or regulator, tell us about it and we’ll explain how we would approach it – it will be free.
Please contact us on +971 52 469 9945, drop a mail to info@alberts.ae or send us a message via WhatsApp. Our office is located in Musaffah, Abu Dhabi and will be closed from Monday to Friday except on holidays and will be open between 8.30AM and 6.30PM.
Alberts has been instrumental since 2019 in propelling our business to new heights. Their unparalleled expertise in ICV certification and advisory services has not only streamlined our operations but also significantly contributed to our growth and success. With Alberts, our journey through the ICV program was seamless and effective, ensuring we stay at the forefront of industry standards and excel in our projects. Their commitment to excellence and detailed understanding of the ICV framework makes them an invaluable partner for any forward-thinking business.