Perform Independent Audit to test the effectiveness and adequacy of internal policies, controls and procedures relating to combating the crime

Perform Independent Audit to test the effectiveness

You’ve got your system of AML/CTF internal controls functioning and a team of compliance officers. How effective is your system?

You can get independent assurance on your system of AML/CTF internal controls by our experienced professionals who have been in practice for years.

Why choose Al-Sharid for AML/CTF services?

Having got a well-practiced team of AML/CTF specialists that have been in the profession for years and contributed to the implementation of the previous AML/CTF regulations and now Federal Decree-law No. (20) of 2018 in UAE, our team are well-versed in the profession. Embodying the professional competences of professional skepticism, integrity, and due diligence, our team can delve deep within your processes, and address the AML/CTF risks and help you mitigate them to the lowest cost-efficient point possible.

We have enough bookkeeping team members to handle any volume of transactions.
Whether you decide to outsource your bookkeeping function or not. We also have a sophisticated team of accounting specialists that can help you in the preparation of financial and operational reports, adjusting entries, cost accounting support, building your fixed asset schedule and other necessary subsidiary records or even maintaining them.

Our approach to providing an AML/CTF independent audit service

Our professionals firstly evaluate your current AML/CTF risk assessment and identification process to answer one important question, “are your AML/CTF risks adequately identified?”

Not only does this overall evaluation help our team assess the financial crime risks within your business, this also gives your team critical recommendations for them to be able to do more effective financial crime risk assessments in the future. We eventually provide you with a report that is similar to a management letter on our findings.

Our team proceeds to use their own hard-earned techniques to further identify risks your team might have missed. Whereupon work is focused on how well your team’s risk response is effective in detecting and rectifying noncompliance with the regulations and in preventing similar cases from happening in the future.

Our team of experts has the right experience and knowledge to help your company achieve its objectives

Is my business directly supervised by the Supervisory Authority in UAE?

The businesses that are under direct supervision are financial institutions, designated non-financial businesses and professions and non-profit organizations. They are the most affected by the provisions of this law. However, all businesses in UAE play a vital role in the prevention of money-laundering and terrorism financing activities in UAE.

What are the designated non-financial businesses?

Also known as DNFB’s, are businesses that are in one of the following industries: Real Estate Precious Metals and Stones Accounting and Auditing Services Company Service Providers .