FINANCE OFFICER FOR DIFC & ADGM REGULATED ENTITIES
All regulated entities in the Dubai International Financial Center and Abu Dhabi Global Markets are required to designate a Finance Officer to provide quarterly and year end reporting. Outsourcing this function as well as your monthly accounting often is the most cost-effective solution for firms with smaller teams, that do not require a full-time finance professional. Our qualified accountants and finance managers will ensure your accounts are in order and your company complies with all financials reporting requirements. We can either stand in as the Finance Officer on record, or provide the expert accounting, reporting, and reg knowledge to support an internal member of the client team, who is the registered Finance Officer;
As an Outsourced Accounting and Reporting Services and Support to the Finance Officer, Rethinks provides:
- Accounting and Reporting services
- Accounting review
- Calculation and monitoring of capital and Liquidity adequacy
- Quarterly and annual preparation of PIB reports
- Support to the Finance Officer on the Annual Scenario Stress Test to be submitted
- Liaising with the regulators
ICAAP Report Services (Internal Capital Adequacy Assessment Process)
The aims and objectives of the ICAAP report is to perform an analysis on your existing business model and assess the impact. We will:
- Review purpose of ICAAP and entities covered
- Review the current financial position, business strategy, balance sheet structure and projected profitability
- Assessment of the entity’s risk management processes
- Review and comment on the material risks, risk materiality level, assessment and action planned for risk mitigation
- Analysis on the Composition and amount of capital required in addition to Pillar 1 requirements based on ICAAP exercise
- Summary of entity’s capital planning, dividend policy, adequacy of capital resources over its planning horizon including periods of economic downturn.
- Impact of stress scenarios on the Capital Adequacy Resources
- Review on monitoring and reporting processes
- Comment on the adequacy of ICAAP exercise and its key findings, ICAAP implementation within the entity, review and approval process of ICAAP
Please make an enquiry to find out more and speak to a senior member of our team.
