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Chartered Dubai enjoys a varied background in providing services to an interesting cross section of clients. Our Auditing services involve evaluating the reliability and credibility of financial information, as well as "the systems and processes responsible for recording and summarizing that information”.
In addition to our Auditing service, we provide an Assurance service which evaluates the reliability, credibility, relevance, and timeliness of information in order to improve the quality of information for decision makers in a company.
While the corporate failures of the past few years have stimulated debate about what went wrong and who was to blame, what's not up for debate is that there is more scrutiny of a company's financial statements than ever before.
Investors have lost faith in corporate governance and reporting and they expect more: greater reliability, more oversight and clear evidence of internal controls. Corporate management, boards and audit committees, internal and external auditors, analysts and other investment professionals all have important roles to play in rebuilding investor trust by executing their respective responsibilities, keeping in mind both legal obligations and the heightened expectations of investors. Meeting investor expectations begins with the completeness and accuracy of information contained in a company's financial statements.
Risk Management & Control
A key aspect of audit planning is the assessment of audit risk. Audit risk is the one that leads to material misstatements will exist in the financial statements and will not be detected by our audit procedures. The audit risk consists of:
Inherent risk is the susceptibility of an assertion to material misstatement, assuming there are no related internal controls.
Control risk is the risk that a material misstatement in an assertion will not be prevented or detected on a timely basis by the internal control policies or procedures. It is a function of the effectiveness of the design and operation of the internal controls.
Detection risk is the risk that material misstatements existing in an assertion will not be detected by our audit procedures.
Our audit approach requires us to control the risk that our audit opinion is incorrect. We do this by applying an audit risk model to critical assertions within critical transaction cycles to ensure that we obtain adequate audit evidence to support our opinion.
Regulatory Compliance & Reporting
One of the lessons learned from the corporate reporting failures of recent years is that a narrow view of compliance was partly to blame. Compliance needs to be viewed as a natural extension of the governance duties shouldered by top management and corporate boards. Indeed, compliance is a governance matter in that only the firm's leaders are in a position to set the tone and establish the accountabilities by which a truly effective compliance function can operate.
Moreover, only good governance can ensure that compliance is aligned with the company's business objectives and risk management strategies — and is thereby adding real value (and not just cost) to the organization.
Ultimately, the goal is to ensure that the spirit of compliance — as well as the letter of the law — is embraced in every corner of the enterprise.
If this is your situation
  You don't know whether your company is in compliance with regulatory rules.
  Your company's compliance costs are out of control.
  You need to plan for staff training in light of new compliance issues.
  Proposed regulations might destroy your business or lead to a loss in competitive advantage.
  You are concerned about the reputational risk from failing to comply with regulations.
  You want to confirm that your company's sales force is complying with the sales and marketing code of conduct.
How Chartered-Dubai can help you?
For all organizations engaged in activities that come under the control of a regulator, CHD provides support, advice, and assurance to help you manage your regulatory risks. In an ever-changing regulatory environment, we help ensure that you identify, manage, and control any existing and future regulatory risks. A proactive rather than a monitoring approach to regulation is now a full time strategic necessity.
Our team consist of experienced regulatory risk specialists, including ex-regulators, who not only know the rules, but have also implemented and assessed compliance against them. Our people can help you at the strategic level — by maximizing any competitive advantages from regulation through to the operational level and by minimizing the costs and disruptions to your business, thereby freeing up management time in the process.
  Assessment of your current and future regulatory risk profile and impact of new regulations
  Effectiveness reviews of current compliance departments
  Independent assurance on regulatory financial statements
  Developing and implementing a risk-based compliance control framework and monitoring program
  Help in establishing an appropriate compliance culture within your business
  Evaluation of new regulations on your business model
  Advice and assistance with regulatory relations and in meeting regulatory standards and expectations
  Advice and assistance with getting your business authorized by a regulator
  Assistance and support in dealing with regulatory enforcement actions and remediation exercises
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