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Standard Operating Procedure

Standard Operating Procedure

  • With comprehensive guidelines on complicated daily operations, businesses can ensure higher efficiency and uniform output. At MBG Corporate Services, we standardize business operations across various sectors through our highly effective Standard Operating Procedure (SOP) services.
  • With proper assessment and mitigation of risks, our customized SOPs can help you run your business with maximum efficiency. Our team of experts can also address potential vulnerabilities and gaps in your current system to further boost business performance.
  • We assist organizations in improving processes by documenting their existing workflows and benchmarking their operating procedures to the industry’s best practices.
  • By specifying detailed work steps highlighting the key controls identifying the responsible Person/Department(s) for each work step approval mechanism

What is the regulatory landscape regarding policy and procedure in the UAE?

  • UAE Labour Law: This law requires employers to have policies and procedures in place for a variety of employment-related matters, such as hiring, termination, and disciplinary action.
  • UAE Consumer Protection Law: This law requires businesses to have policies and procedures in place to protect consumers, such as policies on refunds and exchanges.
  • UAE Data Protection Law: This law requires businesses to have policies and procedures in place to protect personal data, such as data collection and storage policies.
  • UAE Information Assurance Regulation: This regulation requires all entities to implement a suitable information security risk management policy. This policy must include asset identification, risk assessment, and risk mitigation measures.
  • UAE Commercial Transactions Laws: Illustrative provisions in the law that encourage or require businesses to implement certain policies and procedures. For example:
    • Article 95: Requires businesses to act in good faith and to deal fairly with their customers.
    • Article 96: Requires businesses to keep accurate records of their transactions.
    • Article 100: Requires businesses to take reasonable steps to protect their customers’ data.
    • Article 101: Requires businesses to have a system in place for handling customer complaints.
    • Article 102: Requires businesses to have a dispute resolution process in place.
    • Article 103: Requires businesses to have a process for dealing with conflicts of interest.
    • Article 104: Requires businesses to have a policy in place for managing risks.
  • Businesses should have a policy in place to manage anti-money laundering (AML) and counter-terrorist financing (CFT) risks. This policy should be tailored to the specific business and its risks, and it should be regularly reviewed and updated.

What are the key benefits of SOP compliance?

  • Provide a consistent framework for decision-making and actions
  • Help ensure that the organization complies with relevant laws
  • Provide a structured approach to risk identification, assessment, and mitigation
  • Well-documented procedures streamline workflows and processes
  • Serve as valuable training tools for new employees, helping them quickly learn
  • Establish clear responsibilities and accountability within the organization
  • Clear policies and procedures can help resolve conflicts or disputes

How can MBG help you as an SOP Consultant?

Our SOP consulting services can help:

  • Reduce errors and enhance productivity
  • Readiness for future growth
  • Qualitative reporting and decision making
  • Better controlling and consistency
  • Protection from knowledge loss
  • Save on training cost

For other Risk Services go here:- Risk Advisory Services

 

Explore more Risk Advisory services:

Account Reconciliation

Corporate Governance Services

Internal Audit- Controls Testing and Monitoring (CTM)

Financial Reporting- Compliance Risk

Financial Reporting- Financial Risk Management

Crisis Response Strategy

Capital Management Advisory

Banking Regulatory Compliance Services

Asset & Liability Management- Balance Sheet Management

Accounting Advisory Services- IFRS Implementation

Accounting Advisory Services- GAAP to IFRS Conversion

Accounting Review Services

Accounting Advisory Services – Outsourced Accounting

Forensic Audit- Fraud Risk Assessment

Forensic Audit- Forensic Investigation

Business Continuity Planning (BCP)

Anti-Bribery Compliance

Anti Money Laundering

Enterprise Risk Management

Consolidation and Reporting

Internal Control Over Financial Reporting (ICFR)

Forensic Audit- Cyber Forensics

Internal Audit

What can we help you achieve?

Stay one step ahead in a rapidly changing world and build a sustainable future with us.

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