RiskManagement

There is no single UAE law that forces every company to run a formal risk management programme, but many regulators, free zone authorities and corporate governance codes expect documented risk controls as part of good practice. Whether it applies to you depends on your sector, licence type and whether investors, banks or auditors require evidence of internal controls.

The cost depends on the size of the business, the sectors it operates in and the depth of review required, so it is quoted after a proposal rather than as a fixed fee. Bookkeeping support, if needed alongside, starts at AED 599 per month for up to 50 transactions.

A typical review runs from a few weeks to a couple of months, depending on the number of processes, locations and departments involved. Smaller companies with straightforward operations are usually assessed faster than groups with multiple entities or complex supply chains.

It maps out operational, financial, compliance and strategic risks, tests the controls already in place and identifies gaps that could expose the business to loss or regulatory breach. The output is usually a report with findings ranked by severity and practical recommendations to close each gap.

We generally need recent financial statements, organisational charts, existing policies and procedures, licence and registration documents, and details of any past incidents or audit findings. The exact list is tailored once the scope of the review is agreed.

Companies in regulated sectors, those growing quickly, those preparing for external audit, and businesses that have had control failures or fraud incidents benefit most. Whether it is worthwhile for a particular company turns on its size, sector and how exposed its operations are to financial or compliance risk.