Internal control over financial reporting

Strengthen Your Financial Controls
with ICOFR

Take control of your financial reporting and safeguard your business. MBG’s Internal Control Over Financial Reporting (ICOFR) solutions help UAE companies build robust policies and ensure accurate, reliable, and compliant financial statements.

Why Strong Financial Controls Matter

Accurate, reliable, and transparent financial reporting is the backbone of a resilient business. MBG’s ICOFR solutions help UAE companies minimize operational and compliance risks while ensuring confidence in financial statements.

Prevent Fraud & Errors

Identify weaknesses and protect your business from financial misstatements or fraud.

Ensure Regulatory Compliance

Stay aligned with UAE and regional financial regulations, including SCA, ADAA, and CBUAE standards.

Enable Confident Decision-Making

Provide management with trustworthy data for strategic planning and risk management.

Strengthen Governance & Accountability

Build a culture of transparency that inspires investor and stakeholder confidence.

Our Structured ICOFR Approach

MBG helps UAE businesses implement robust Internal Controls Over Financial Reporting through a systematic, step-by-step process. Our approach ensures accurate, compliant, and reliable financial reporting while mitigating risks.

Risk & Impact Assessment

Analyze your current financial reporting processes to identify gaps, control weaknesses, and potential fraud or error risks.

Control Design & Optimization

Develop customized controls, policies, and procedures tailored to your company’s operations and regulatory requirements.

Implementation Support

Assist in embedding controls into daily operations, aligning accounting systems, and providing staff training for effective adoption.

Documentation & Monitoring

Maintain detailed records of controls, audit trails, and reporting processes to meet regulatory expectations and internal review needs.

Testing & Evaluation

Conduct regular testing of controls to ensure effectiveness, compliance with UAE regulations, and readiness for audits.

Reporting & Continuous Improvement

Provide actionable insights and recommendations to enhance governance and strengthen accountability.

Your Global Partner for Smarter Decisions and Sustainable Growth

Trusted Expertise: 23+ years delivering corporate advisory, finance, compliance, and legal solutions worldwide.

Proven Impact: Serving 5000+ clients, including 100+ Fortune 500 companies.

Global Reach, Local Insight: 16+ offices across 8 countries to provide on-the-ground knowledge with international standards.

Tailored Solutions: From advisory to risk management, we craft strategies that fit your unique business needs.

Dedicated Professionals: 600+ experts committed to ensuring seamless execution and long-term success.

MBG aims to deliver more than just services.
We Deliver Confidence, Clarity, and Results.

Our Partnerships

Customer Delight Stories

Aqseptence Group

Our main contact at MBG has consistently provided excellent cooperation, competence, and reliability, ensuring smooth operations. Their proactive communication regarding corporate tax and labor law updates has been particularly valuable. While various contacts handle payroll, legal matters, financial statements, and general support, the level of service remains consistently high, with prompt responses and timely task completion. Overall, MBG proves to be a dependable partner with a highly competent team, offering comprehensive support across a broad portfolio. We are highly satisfied with our collaboration and look forward to continued success with MBG as our trusted partner

Ortiz Miguel – Commercial Project Manager

Unique group

I was looking for a law firm/company who could provide prompt and cost effective legal support to our group for international legal matters. I found the service provided highly professional, transparent and highly efficient. I particularly appreciated how speedily Ms Jui Dongare dealt with everything including post communication to resolve all the query. I will highly recommend MGB for professional legal assistance at a very reasonable cost.

Bhavin Raychura - Group Financial Controller

Drillform

Our experience in working with Jui to prepare an appeal for penalties assessed by the authorities was overall very positive. As the filing deadline was approaching, she promptly handled our matter and brought her vast expertise in dealing with the authorities with these kinds of situations. I appreciated the collaborative approach in gathering the information and compiling the final submission and I feel this was key to the successful outcome we achieved with the appeal decision. I would highly recommend Jui and MBG to others and I look forward to working with her again in the future.

Tracy McCorristo - Partner

Bolloré Logistics

MBG has provided a great service to our company in the field of UBO and ICV. Their expertise, dedication and timely communication have ensured that we streamline our compliance to the rules/procedures as per UAE requirement. Apart from that, MBG organizes webinars & seminars to keep us up to date on new FTA regulations such as Corporate Tax/VAT and so on. Their team's professionalism and commitment have made them an invaluable partner. We recommend MBG to any organization seeking top-notch financial and consultancy services.

Amit Vasnani - Finance Director

Pupuk Indonesia

As Head of Dubai Representative Office PT Pupuk Indonesia Dubai, we extend our sincere gratitude to MBG Legal Consultants in Dubai for your invaluable assistance. Your support has been instrumental in facilitating various legal processes, from securing visas to navigating insurance exceptions in Dubai, notably the DIFC Employee Workplace Savings. Moreover, you played a pivotal role in the establishment and ongoing management of PT Pupuk Indonesia Dubai's Representative Office license, ensuring its successful extension until October 2024...

Ferry Herdiman - Head of Dubai Representative Office

Pupuk Indonesia

Additionally, MBG exhibited exceptional proficiency in coordinating the DIFC office lease arrangements, ensuring seamless operations until the extended period. Your meticulous attention to detail and proactive approach have significantly contributed to the smooth functioning of our operations in Dubai. Furthermore, we commend your commendable efforts in managing ESR/CRS/FATCA compliance reporting, which further solidifies your expertise and commitment to excellence. In essence, MBG Legal Consultants has been a reliable partner, consistently delivering high-quality legal support and demonstrating unwavering dedication to our mutual success. Once again, thank you for your remarkable services.

Ferry Herdiman - Head of Dubai Representative Office

Super Tannery

I take this opportunity to thank you & MBG Corporate Services for providing us excellent professional services since September 2022 when we started our association. It has been wonderful experience working with team MBG particularly with Fazal Moulana. Whether it be a virtual meeting or exchanging emails or face to face meeting in your office , I always found team MBG welcoming, commendable and adding inches to my knowledge. Truly a multi-national Professional firm. I found your contribution outstanding not only in the process of company incorporation but also in matters related to Visa/Emirates ID issuance and opening of bank account etc. I am confident that with this level of services you and MBG will definitely climb many more success ladders in the years to come. I have no objection if you wish to share my views with your existing/prospective clients through your website or otherwise.

Mohammad Imran - Super Tannery

NAS Neuron Health Services LLC

I want to take a moment to express my appreciation for your excellent service and support to conduct this audit. Your consistent quality of audit and timely delivery of the report has been invaluable to our business. Like past years, you and your team has always helped us in identifying the critical gaps and recommended the remedial measures which is commendable. Looking forward continuing and strengthening our relationship in coming years.

Dr. Ali Qasim - Head of Quality Assurance, Information Security and Operations Support

William Hare UAE LLC

Just to let you know, we are very pleased with MBG team’s current performance in getting our VAT refunds approved. Their constant follow-ups and inquiries with the FTA resulted in approvals of four out of five pending refunds in a reasonable time frame of 2.5 to 3 months. We are very confident that the last pending refund will also be approved very shortly due to your team’s proactive efforts. I have personally recommended the senior management to onboard MBG for all VAT related matters henceforth. We really appreciate your continued support and pro-active management in your service.

Saqib Hanif - Assistant Finance Manager

STORK

We would like to sincerely “THANK YOU” for your outstanding dedication and expert guidance in successfully resolving the long-pending VAT de-registration matter. Your efforts are truly appreciated. We are profoundly appreciative of your commitment and look forward to the privilege of collaborating with you on future engagements.

Rehan Ashiq - Assistant Financial Controller – Middle East

Cooperheat Franchising B.V

Thank you for sharing the update and providing the VAT deregistration certificate for Cooperheat Middle East. I sincerely appreciate the dedicated efforts you have put in, particularly following our meeting last week, and the professionalism demonstrated by you and the MBG Corporate Services team throughout this process.
A special thanks to you, Ms. Sarah, for your valuable support and assistance throughout this engagement. We look forward to maintaining our valued relationship and exploring further opportunities for collaboration in the future.

Muhammad Hamza - Chief Financial Officer

FAQs

Strong ICOFR ensures compliance with regulators like SCA, ADAA, CBUAE, and enhances investor confidence by providing reliable financial data for decision-making.

All companies aiming for accurate financial reporting, risk mitigation, and strong corporate governance should implement ICOFR, regardless of size or sector.

MBG provides end-to-end support including risk assessment, control design, implementation, monitoring, testing, and reporting to help your organization maintain robust financial governance.

Yes. By identifying weaknesses, implementing strong controls, and continuous monitoring, ICOFR significantly reduces the risk of financial misstatements, errors, and fraud.

Strengthen Your Financial Controls with ICOFR

Get A Free Consultation

Why Strong Financial Controls Matter

Prevent Fraud & Errors

Ensure Regulatory Compliance

Enable Confident Decision-Making

Strengthen Governance & Accountability

Our Structured ICOFR Approach

Risk & Impact Assessment

Control Design & Optimization

Implementation Support

Documentation & Monitoring

Testing & Evaluation

Reporting & Continuous Improvement

Why MBG?

Your Global Partner for Smarter Decisions and Sustainable Growth

Meet Our ICOFR Experts

Your operations, guided by our ICOFR specialists.

Nadim Khan

Our Partnerships

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Internal Audit

Customer Delight Stories

Aqseptence Group

Ortiz Miguel – Commercial Project Manager

FAQs

Why is ICOFR important for businesses in the UAE?

Who should implement ICOFR in an organization?

How does MBG assist with ICOFR?

Can ICOFR help prevent fraud and errors?

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Strengthen Your Financial Controls
with ICOFR