BUSINESS RISK SERVICES

Our Business Risk Services

Risk does not announce itself. It builds quietly in outdated processes, unchecked controls, governance gaps, and decisions made without sufficient data. By the time most organisations discover a problem, the cost of fixing it has already grown significantly.

PROFIX Consulting helps UAE businesses stay ahead of that curve. Our Business Risk Services combine internal audit, GRC consulting, risk mapping, and compliance reviews into a structured programme. Our team has completed 100+ internal audit engagements across hospitality and real estate industries with a methodology proven at leading international brands.

Our Audit Approach

INTERNAL AUDIT METHODOLOGY

Planning

Agree scope, timeline & logistics
Issue audit notification and requirements list
Align expectations with management

Fieldwork & Testing

Kick-off meeting with HODs
Walkthroughs & sample-based controls testing
Regular updates on gaps & missing data

Fieldwork Closure

Exit meeting & validation of findings
Capture management justifications
Agree response & data deadlines

Reporting

Draft report and quality assurance
Obtain & validate management comments
Finalize & issue the report

HIGH LEVEL RISK ASSESSMENT METHODOLOGY

Establish Context

Kick off project, align expectations, review org structure, policies, procedures, frameworks, assess regulatory landscape, and perform gap analysis of Internal Audit Documents.

C-Suite Workshop

Conduct workshop with C-suite management to discuss operating model, strategic objectives, and key areas of concern.

Risk Identification

Conduct meetings with Heads of Departments to perform design-level controls diagnostics, identify gaps, and validate auditable areas.

Controls Diagnostics

Finalize audit universe, draft controls diagnostics report including key concerns, control design gaps, internal controls checklist, and recommendations.

• IA Plan & Reporting

Develop Internal Audit Plan with objectives, scope, and man-days per auditable area. Prepare Audit Committee presentation summarising results and best-practice recommendations.

Features

OUR BUSINESS RISK SERVICES

Internal Audit Services

Independent, objective evaluation of risk management processes, internal controls, and governance. Risk based audit engagements focused on highest-risk areas covering full Internal Audit Universe across the business.

Controls Diagnostic Review

Identifies the difference between your current control environment and a well-controlled operational standard, producing a prioritised action plan across financial, operational, and IT dimensions

ICFR Implementation

Six-stage ICFR methodology: Scoping (materiality, GL mapping), Process Flows & RCMs (ELC, PLC, ITGC), Gap Assessment, Management Test Plan, Conduct Testing, Reporting (gap assessment report, process flows, training).

Control Self-Assessment Implementation

Six-component CSA: Policies & Procedures, Delegation of Authority, Control Information (performer, reviewer, owner), Evidence Requirements, Risk Criteria, Self-Assessment Toolkit.

GRC Consulting

Governance, Risk, and Compliance programme design and implementation, proportionate, practical and embedded in day-to-day operations. Risk workshops, risk registers, heat maps, compliance frameworks

Enterprise Risk Management Implementation

Structured risk workshops with leadership to identify, assess, and prioritise business risks. Output: risk register and risk heat map giving your board a shared, objective view of exposure

Ready to take control of your finances? Let’s talk today.

FAQ

Frequently Asked Questions

Clear answers to help you understand features, workflow, and secure task handling with confidence

1. What is the difference between outsourced and co-sourced internal audit?

Outsourced means PROFIX manages your entire internal audit function. Co-sourced means we work alongside your existing team, providing additional capacity, specialist skills, or a fresh perspective. We offer both.

Yes — this is a particular strength. We have completed 100+ internal audit engagements at hotels operating under Ritz-Carlton, Marriott, Hilton, Fairmont, Novotel, Pullman, Rotana, and other flags, as well as real estate developers, property management companies, and asset managers.

A GRC framework is an integrated approach to governance, risk management, and compliance. If your business is growing, operating in a regulated environment, or seeking investment, a structured GRC framework is essential.