Internal Control Framework
Framework for Internal Control
Organisations are under increasing pressure to maintain accuracy, regulatory compliance, and operational resilience in today's fast-paced, risk-driven business environment. Achieving these goals requires a strong Internal Control Framework (ICF) that includes Operational Controls, Information Technology General Controls (ITGC), Internal Controls over Financial Reporting (ICOFR), and fraud and compliance controls. Organisations under the jurisdiction of several regulatory bodies in the United Arab Emirates are required to set up and maintain efficient internal control systems.
The most popular and regulator-recommended framework in the United Arab Emirates is the COSO Internal Control Framework. Organisations use the COSO framework to strengthen governance, improve risk management, meet regulatory obligations, and increase operational efficiency. Globally acknowledged as a top internal control framework, COSO helps companies manage risks proactively, protect assets, improve financial reporting, and foster stakeholder trust while promoting long-term company expansion.
Regulations on Internal Control in the United Arab Emirates
Internal control criteria have been set by a number of UAE regulatory agencies. Based on globally known standards like COSO and SOX, we help businesses build, implement, review, and improve internal control frameworks. Our services include customised ICOFR projects created especially to improve financial reporting controls, as well as enterprise-wide Internal Control Framework (ICF) deployment including operational, compliance, and financial controls.
Regulation
Regulator
Applicability
Primary Focus
SCA Governance Code – Decision No. 2/RM of 2024 (Articles 14, 61 & 73)
Securities and Commodities Authority (SCA)
All listed PJSC companies in the UAE
Entity-wide governance, operational, compliance, and financial controls
ADAA Resolution No. 88 of 2021
Abu Dhabi Accountability Authority (ADAA)
Abu Dhabi government-owned entities with direct or indirect government ownership exceeding 25%
Financial reporting risks and internal controls
CBUAE Circular No. (21) of 2019
Central Bank of the UAE (CBUAE)
All insurance and Takaful insurance companies operating in the UAE, including foreign branches
Internal controls over financial reporting
UAE Accountability Authority Resolution No. 157 of 2024
UAE Accountability Authority
Federal ministries, authorities, and government corporations with at least 25% federal ownership
Enterprise-wide operational, risk, compliance, and financial controls
KASA Advisory: Why?
- Skilled Professionals: Our group has a wealth of experience in internal controls, risk management, governance, and regulatory compliance from a variety of industries.
- Collaborative Approach: To guarantee openness, effective communication, and successful project completion, we collaborate closely with management and outside auditors.
- Customised Solutions: Every company has different needs. We create workable internal control frameworks that complement your company's goals, operational framework, and legal requirements.
- Regulatory Compliance Support: We increase governance, lower business risks, and assist organisations in meeting changing UAE regulatory requirements.
- Process Improvement: Through useful suggestions and technologically enabled solutions, we find ways to enhance operational efficiency, fortify control environments, and optimise company processes in addition to compliance.
- Training and Knowledge Transfer: To help process owners comprehend and uphold efficient internal controls, we provide training, coaching, and awareness workshops.
Frequently Asked Questions
Browse through frequently asked questions to learn more about our expertise, solutions, and how we help you achieve financial success.
How KASA Advisory can assist
We are usually called in after something went wrong, or before an investor starts asking questions. We map what your controls actually do, show you where the gaps are, and write the procedures and delegation of authority to close them. The output is a framework your own team can run.
Related services:
Explore Our Services
Contact Us Today!
Get in touch with our experts today and take the first step toward smarter.
- Testimonial
Client Reviews & Feedback
4.9
53+ Client reviews
We moved off our old accounting system, KASA handled the migration years of client ledgers, matter balances, historical billing and caught inconsistencies in our records that we had been carrying for a while without realising. Everything reconciled at the end of it. They have since kept us straight on VAT and Corporate Tax, and started us on eInvoicing readiness. Good people to have on the finance and IT side.
Ali Arshad
Marlaw, Partner
KASA came in to assess our finance setup and map out where we needed to be for eInvoicing. They handled the technical questions properly. Integration, system compatibility, how the pieces talk to each other and gave us answers we could actually build on. Solid partner for anything on the finance technology side.
Waqar Ahmed
Technical Director, 10X Digital
Our invoicing and record-keeping had outgrown the way we were doing things. KASA helped us fix the process, tighten the controls, and get properly briefed on what eInvoicing will mean for us. Clear advice and they stayed practical throughout. We wil be using them again.
Rahul Gujral
Commercial Director, Brickhub Properties
Successful Filings
0
+
Successful Years
0
+
Customer Satisfaction
0
+
Trusted By Leading Partners
- Contact Us
Contact our team for expert consultation services
Central Office:
Office 31, Real Business Group Building, Ajman.
Contact Us:
Phone: +971 55 724 3050
Email: [email protected]
Book an Appointment
Connect with our specialists to receive expert guidance on tax compliance, accounting, and regulatory matters tailored to your needs.
- Locations
Regions We Serve
India
Turkmenistan
United Arab Emirates
Egypt
Libya
