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Internal Controls Review and Risk Management Support in the UAE
Internal controls are the checks that stop mistakes and misuse before they reach the accounts. We review how your processes actually work and recommend practical improvements under our cost control and risk management services.
Where UAE company records usually go wrong
One person does everything
The same employee raises, approves and records transactions.
No authority limits
Payments are approved informally without a documented limit.
Manual workarounds
Critical numbers move through spreadsheets and chat messages.
Stock and cash exposure
Physical assets are not checked independently.
Mapping the cycles that carry the most risk
A controls review begins by listing the business cycles: sales to cash, purchases to payment, payroll, inventory, fixed assets, treasury and financial close. For each, write a short narrative of who does what, which system is used and which documents are created. Then mark the points where money or stock can leave the business without a second person seeing it.
Those points, such as supplier bank detail changes, manual payments, credit notes and stock adjustments, are the first candidates for a control. Not every risk needs a heavy control. A weekly exception report reviewed by a manager is often enough for a small company.
Segregation of duties in a small team
Small finance teams cannot separate every task. Where one person must both record and approve, add a compensating control. One example is a monthly review of the bank statements by the owner. Another is a limit above which two signatures are needed. A third is a periodic check of the vendor list against staff and shareholder details.
Write the control down, say who performs it and keep evidence, such as a signed report or an email approval. A control that is not evidenced cannot be shown to a reviewer.
Rotate duties when possible, and make leave an opportunity for a colleague to take over a task and see how it is done.
Testing, reporting and following up
After controls are designed, test a sample of transactions to see whether they operated. Pick items from different months, trace each to its approval and supporting document, and record any exceptions with the amount and the cause.
Report findings in a short table: observation, risk, recommended action, owner and date. Follow up at the next review to confirm the fix. Our role is advisory and covers cost control and risk management support, not an audit opinion.
Keep the sample list and the evidence, as another reviewer should be able to repeat your test and reach the same result.
A checklist for your file
- Process maps for key cycles
- Authority and approval matrix
- Segregation of duties review
- Sample transaction testing
- Risk register with owners
- Action plan with deadlines
Four steps to readiness
- Select the areas. Choose purchases, sales, payroll, cash or stock based on risk.
- Walk through. Follow real transactions from start to finish.
- Rate and report. Rank findings and suggest fixes.
- Check progress. Review agreed actions after an agreed period.
What owners usually ask
Is this an audit?
No. It is an advisory review and does not give an audit opinion.
How big should my business be?
Any business with more than one person handling money can benefit.
How long does a review take?
Small companies often need one to two weeks, depending on scope.
How is this different from an external audit?
An external audit is performed by an independent auditor your company appoints and ends with an opinion. A controls review is internal support that helps management run the business with fewer errors.
How often should controls be reviewed?
At least once a year, and whenever there is a system change, a new bank account, a new product line or a change of key staff.
Which controls matter most for cash?
Dual approval of payments, independent bank reconciliations and controlled access to online banking.
Can the owner perform control checks?
Yes, if the owner is not also processing the transactions. A short monthly review of exceptions adds real protection.
Can a controls review be done on one process only?
Yes. Many businesses start with the cycle that handles the most cash, often purchases and payments, and add others later. A narrow first review is quicker, produces actions that can be completed within weeks and shows whether a wider review is worthwhile.
The limits of our service
Our role is practical: reconcile, document and review. We do that as a licensed company (No. 1360308). We do not offer statutory audit or sign audit opinions.
Plan your next close
Tell us about your business and what you need ready, and we will outline how Numerix can help.
Book a consultationCall +971 50 771 2258 WhatsApp us Email us Numerix Accountants does not issue audit opinions or perform statutory audits, which are outside our licence.
Talk to Numerix Accountants
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