Advisory and Regulation Department

Advisory and Regulation Department


The Advisory and Regulation Department headed by CPA Widad Altouche is a unique department in the Banking and Finance Cluster. The department primarily engages in all aspects of risk management, including compliance risks, operational risks and reporting risks. Furthermore the department has expertise in internal audit, SSAE / ISAE reports.


Our Services 


Compliance and Regulation

  • Compliance and regulatory surveys of laws, Supervisor of Banks instructions, and Capital Markets Commissioner's regulations

  • Bank audits for the Supervisor of Banks

  • Compliance surveys for financial entities regarding FATCA and CRS

  • Money laundering prevention and processes supporting fulfillment of regulation provisions

  • Bribery and corruption prevention processes

 

Risk Management

  • Accompany companies in analyzing processes resulting from an organizational structure change, integration of information systems or new regulatory instructions;

  • Operational  and Fraud risk surveys

  • Consulting financial entities when transitioning core activities to service organisations

 

Internal Audits

  • Provide internal audit services to financial entities, including branches of international banks and investment houses

  • Conduct special audits for boards of directors for compliance with board policy and relevant regulation


SOX Services

  • SOX consulting based on BDO's methodology. The service includes mapping of work process risks, identifying controls addressing the risks, mapping control gaps, formulating a plan to improve the internal audit scheme and preparing the required reports of financial entities (banks, insurance companies, provident funds, credit card companies and investment houses)


ISAE and AUP Reports

  • ISAE 3402 for service providers to financial institutions and entities, including banking entities and service bureaus

  • International standard ISAE 3000 for service bureau operational services

  • AUP reports (Agreed Upon Procedures), audit reports according to the U.S. standard on issues agreed upon as part of the engagement agreement

 

 

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