Business risk servicesOperational Advisory

grantthornton.ae

Contents2 Our business risk service offering3 Dynamic growth services4 Internal Audit Outsourcing & Co-sourcing5 Enterprise Risk Management5 Developing Standard Operating Policies & Procedures6 Corporate Governance7 Internal control analyse & design7 Fraud prevention and detection8 Training 9 Contact us

About usGrant Thornton is one of the world’s leading organisations of independent assurance, tax and advisory fi rms. These fi rms help dynamic organisations unlock their potential for growth by providing meaningful, forward looking advice. Proactive teams, led by approachable partners in these fi rms, use insights, experience and instinct to understand complex issues for privately owned, publicly listed and public sector clients and help them to fi nd solutions. More than 40,000 Grant Thornton people, in over 130 countries, are focused on making a difference to clients, colleagues and the communities in which we live and work.

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Foreword

We are passionate about adding real value to your organization, by providing business risk service solutions to promote long term growth.

Every business aims to achieve growth, profitability and sustainability, however far too often they are confronted with strategic, financial, operational and technological challenges.

The real problem arises, when a business does not have the right control, governance and business process in place to mitigate risk and inhibit barriers to growth.

Our professionals have a wealth of local and international experience. They work with you to ensure your business is safeguarded and protected from hidden risks throughout your business lifecycle.

Mohamad Nassar PartnerGrant Thornton, United Arab EmiratesE: mohamad.nassar@ae.gt.com

Adding value to your organisation

Our business risk service offeringOur business risk service offering

Your business is unique. The environment you operate in is increasingly complex, therefore managing business growth, planning for the future and staying competitive is critical. You need answers that are clear and right for your business.

These are all issues which we can help address. At Grant Thornton, we offer an approach that is tailor-made to dynamic businesses like yours.

We have designed and developed distinctive methodologies and services to support your business at each phase of its growth lifecycle. So whether you are an SME that has just set up or a large business wishing to expand, at Grant Thornton we will help you unlock your potential for growth.

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Your business is unique. The environment you operate in is increasingly complex, therefore managing business growth, planning for the future and staying competitive is critical. You need answers that are clear and right for your business.

These are all issues which we can help address. At Grant Thornton, we offer an approach that is tailor-made to dynamic businesses like yours.

We have designed and developed distinctive methodologies and services to support your business at each phase of its growth lifecycle. So whether you are an SME that has just set up or a large business wishing to expand, at Grant Thornton we will help you unlock your potential for growth.

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Dynamic growth services

Business risk services

Our teams will bring both reason and instinct to the work we perform; it is this fundamental aspect of our culture that truly differentiates Grant Thornton.

Internal Audit Outsourcing & Co-Sourcing

Our Internal Audit services deliver solutions that can help you address a full range of key strategic, operational, financial and compliance risk areas by helping create an effective control framework and environment, which will facilitate the execution of strategic objectives, effectiveness and efficiencies in operations; reliability of financial reporting; compliance with the applicable statutes and safeguard corporate assets.

Our Internal Audit Services not only help solve key issues and challenges, they give you access to world-class resources and capabilities to aid you in:

• Establishing a internal audit function including developing technical and operating manuals, charters and organisation charts

• Planning and executing risk based internal audits across various industries, operations and business segments

• Reporting to Senior Management / Audit Committees (monthly, quarterly, semi annually and annually)

• Follow up of management activities to implement audit recommendations and proposed solutions

• Benchmark the internal audit function against world-class internal audit processes

• Evaluate internal audit performance and results• IT auditing

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Enterprise Risk Management

Corporations operate in a dynamic environment where the primary objective is to maximize shareholders’ wealth. Hence the future remains uncertain to a large extent, allowing for fate to play a part in the results that are achieved by organisations.

However, the role of fate has reduced considerably over the years with the help of Enterprise Risk Management methodologies that did not only help to predict the future and estimate possible losses, but can turn risks to opportunities too.

At Grant Thornton, we specialise in addressing these issues by enabling organizations to implement proactive, collaborative processes to balance opportunities with strategic, financial, legal, operational information and project risks at all levels of the enterprise.

We provide a best practice framework for: • Articulating and communicating the objectives of the

organization• Determining the risk appetite of the organization and

establishing an appropriate internal environment, including a risk management

• Framework • Centrally monitoring and coordinating the risk

management processes and the outcomes, and providing assurance on the effectiveness with which risks are managed.

Developing Standard Operating Policies & Procedures

Policies and procedures are the strategic link between the company’s vision and its day to day operations; it allows the management to guide operations without constant management intervention. Developing standard operating policies and procedures and a detailed flow of activities is critical to the success of any organization.

At Grant Thornton we specialize in constructing policies and procedures, process maps and key controls which facilitate the day to day operations and ease decision making.

We develop policies and procedures manuals for key processes and sub processes for the the following:

• Finance & accounting• Purchasing and procurement• Logistics and supply chain management• Inventory and warehousing• Budgeting & planning • Internal Audit• Risk Management• Human resources• Fraud prevention and whistleblowing• Code of conduct• Corporate Governance

Nine in ten business leaders worldwide believe culture is important to a robust governance framework. Regionally this ranges from 75% in Africa and southeast Asia, to 90% or more in Europe, developed Asia Paci� c, North America and Latin America - according to data from the IBR.Source: Grant Thornton IBR 2015Grant Thornton global governance report 2015

At Grant Thornton we believe that while compliance with laws and regulation must form part of any governance framework, there is an opportunity for progressive boards to frame these issues more broadly. This includes promoting a culture of integrity and ethics, tapping into key stakeholder groups and maintaining a rich diversity of thinking that blends industry experience with challenging debate.

Nine in ten business leaders worldwide believe culture is important to a robust governance framework. Regionally this ranges from 75% in Africa and southeast Asia, to 90% or more in Europe, developed Asia Paci� c, North America and Latin America - according to data from the IBR.Source: Grant Thornton IBR 2015Grant Thornton global governance report 2015

At Grant Thornton we believe that while compliance with laws and regulation must form part of any governance framework, there is an opportunity for progressive boards to frame these issues more broadly. This includes promoting a culture of integrity and ethics, tapping into key stakeholder groups and maintaining a rich diversity of thinking that blends industry experience with challenging debate.

Corporate Governance

Today’s fast-paced business environment, shifting economic conditions, access to the global marketplace, evolving information technology and increased demand for enhanced corporate governance and accountability are all contributing factors in propelling the board’s role in corporate governance. These new demands require boards to be more involved, knowledgeable, and proactive.

The need to develop, adopt and demonstrate a high level of corporate governance is far greater than it has ever been, it is therefore essential to choose a Partner who is knowledgeable, constructive and totally independent, at Grant Thornton we provide just that. Grant Thornton provides comprehensive corporate governance services to public listed companies as well as other private and governmental organizations.

Grant Thornton’s Corporate Governance services address the rapid changes occurring in regulatory requirements in respect of the Securities and Commodities Authority (SCA) requirements for all public joint stock companies listed in the UAE financial markets.

Our services include:1. Restructuring / Formation, setting and reviewing existing

criteria for appointment of the Board of Director members (Non-executive - Executive - Independent)

2. Setting and review existing criteria of appointment, role, and duties of the Chairman and the CEO

3. Restructuring / Formation of all of the board’s committees and their charters including;

• Executive Committee• Audit Committee• Budget Committee• Remuneration & Compensation Committee• Finance & Investments Committee• Internal Control & Risk Management Committee4. Establishment and monitoring of financial and operational

Internal Control systems and an integrated Risk Management process

5. Setting up an Internal Audit function6. Establishing a Code of Conduct7. Assistance in reporting on the status of Corporate

Governance to Securities & Commodities Authority (SCA)

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Internal control analyse and design

Internal Controls are an integral element in all business processes either financial or operational, it is becoming increasingly important to build a strong, efficient and effective structure of controls to ensure that all business departments, functions and activities are achieving their strategic, financial and operational objectives.

At Grant Thornton, we work with our clients to design integrated internal control frameworks which reflect best practice for a wide range of industries. We meet with directors, managers and senior staff to understand, discuss, document the flow of procedures and activities, and finally create internal control registers that show:

• Detailed description of all control actions (what)• The individual who is responsible for executing the action

and are responsible for its results (who)• The frequency, timing and duration for each control to take

place (when)• The type of control (manual / automated)• Nature of the control (preventive / detective / directive /

corrective)• Description of the output / evidence that this control /

action is executed/ applied

Fraud prevention and detection

Fraud can prevent organizations from maintaining growth, sustainability and profitability, should it go undeterred or investigated. In order to deter or mitigate fraud, we work with our clients to offer a number of solutions to further safeguard their business and the risk of such.

These include:• Development of fraud policies and procedures• Whistleblowing policies, tools and mechanisms• Fraud investigations and reporting

Fraud occurs in many ways and may do so at any point in an organisation’s growth lifecycle. Our forensic experts not only work with our clients to actively monitor and efficiently respond to the potential fraud, embezzlement or misconduct but also investigate alleged fraud and measure the financial impact.

The credit crunch and downturn led to a number of high-profi le cases that entered previously unchartered territory. Technology has accelerated the capacity to store data but at the same time has produced new threats to be countered. With increased opportunity, comes increase risk of fraud.

Mohamad NassarPartner

Our business risk specialists work with you to ensure that any risk is

identifi ed and mitigated, ensuring that it does not impact your business,

reputation or your growth plans. We recommend methodical models which support your growth and help you to

become dynamic in your approach. Our specialists work with you through the

growth lifecycle to ensure your business reaches its full potential within the increasingly competitive market.

Training

At Grant Thornton, we don’t believe in providing our clients with a one-off service, we believe training and knowledge sharing is an integral and important element which will embed best practice and knowledge enhancement at all management levels, which will result in aiding the profitability of the organisation.

We provide a range of courses, seminars and workshops which deliver efficient methodologies, approaches and techniques covering the following subjects:• Risk assessment & management• Fraud prevention & detection• Internal controls evaluation & design• Internal auditing skills & process• Corporate Governance

These courses are provided in cooperation with the most reputable organizations within the UAE and across the Middle East, in order to ensure you receive quality training which can add real value to your organisation and internal stakeholders.

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Follow us:

@GTUAEwww.grantthornton.ae Grant Thornton UAE

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Contact us

As a cohesive global organisation we give you access to a consistent level of quality and a seamless service wherever you choose to do business.

As a member firm of Grant Thornton International Ltd, we deliver connections which help you to leverage the powerful contacts, client base and revenues which are available around the globe, supporting you to grow your business overseas.

Grow relationships and revenue beyond the UAE

Mohamad NassarPartner Operational AdvisoryE mohamad.nassar@ae.gt.com

Some of our recent international accolades include:

WinnerEmployer of the

year 2015

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