Protiviti Member Firm (Middle East) Ltd. is a member firm of Protiviti Inc. and the exclusive representative for the UAE. Acting as a regional risk consulting provider in association with its international parent company, Protiviti Member Firm (Middle East) Ltd. offers a combination of global and local expertise covering a range of services and solutions for identifying, measuring and managing the risks that challenge their business objectives.
Protiviti Inc. is a leading provider of business and technology risk consulting and internal audit services. The company provides consulting and advisory services to help clients manage financial, operational and technology-related risks encountered in their industries, and assists in the implementation of the processes and controls to enable their continued monitoring. Protiviti also offers a full spectrum of internal audit services to assist management and directors with their internal audit functions, including full outsourcing, co-sourcing, technology and tool implementation, quality assessment and readiness reviews.
Protiviti Inc, formed in 2002, has offices in more than 60 locations in the Americas, Asia-Pacific and Europe, and is a wholly owned subsidiary of Robert Half International Inc. Founded in 1948, Robert Half International is a member of the S&P 500 index and is a US$4 billion revenue company.
Commenting on the announcement, Nasser Al Shaali, Chief Executive Officer of the DIFC, said: "With the increasing number of international organizations coming to the region, in addition to existing companies already established here, there has surfaced a clear need for professional consultancies to assist in their operation and enhance their performance. As such, the DIFC is keen to welcome the Middle East Member Firm of Protiviti. Protiviti has a solid track record across the globe for providing a full range of value-creating services, and we look forward to the contribution and competitive advantage this will bring to the region, and particularly to the DIFC."
Adnan Zaidi, Managing Director of Protiviti Member Firm (Middle East) Ltd, said: "The UAE and other GCC countries are experiencing phenomenal growth and development. Our UAE office, comprising of specially selected leadership and experienced professionals, is well-positioned to assist and add value to companies based in this region, as well as the growing influx of global clients now moving to this region. We are truly independent as we do not provide external audit services. This is a strategic advantage because our organization is the only company that brings the resources, consistent quality, and capabilities of large accounting firms without the regulatory concerns or independence issues."
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Protiviti Member Firm (Middle East) joins the DIFC
- United Arab Emirates: Sunday, July 29 - 2007 at 13:51
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Protiviti Inc, a global provider of independent risk consulting and internal audit services, today announced that Protiviti Member Firm (Middle East) Ltd. will be establishing operations in the Dubai International Finance Centre (DIFC).
Left to right: Nasser Al Shaali, CEO, DIFC Authority and Adnan Zaidi, Managing Director of Protiviti Member Firm (Middle East) Ltd.
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Posted by Anne-Birte Stensgaard, Senior News EditorSunday, July 29 - 2007 at 13:51 UAE local time (GMT+4)
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Notes and Media Contacts »
Media inquiries on Protiviti:
Adnan Zaidi
Managing Director
Level 41 of Emirates Towers
PO Box 506700
Sheikh Zayed Road
Dubai, United Arab Emirates
Telephone
: +971 4 319 9342
: +971 50 319 6564
Media enquiries on the DIFC:
Shaima Al Zarouni
Dubai International Financial Centre
Tel: +971 4 362 2432
About the DIFC:
The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centers of Hong Kong and London and services a region with the largest untapped emerging market for financial services.
In just under two years, over 400 firms have registered at the DIFC. They operate in an open environment complemented with world-class regulations and standards. The DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards.
The DIFC is made up of the following core bodies:
1. The DIFC Authority (DIFCA) - Responsible for the Companies and Security Registries and attracting financial as well as non-financial institutions to set up in the DIFC. The DIFC Authority is also responsible for developing the financial services industry. (www.difc.ae)
2. The Dubai Financial Services Authority (DFSA) - An independent, unitary regulatory authority, responsible for the regulation of all DIFC operations. Its principle-based primary legislation is modeled on that used in London and New York and its regulatory regime operates to standards that meet or exceed those in major financial centers. (www.dfsa.ae)
3. The DIFC Courts - An independent court system set up to uphold the provisions of DIFC laws and regulations, the courts provide comprehensive legal redress in civil and commercial matters within the DIFC. The DIFC Courts system is especially designed to deal with all of sophisticated transactions that will be conducted within DIFC. The DIFC Court laws, based on the common law, not only sets out the jurisdiction of the court but also provides for a dispute resolution services, including arbitration and mediation, thus allowing for the independent administration of justice in the DIFC. ( www.difccourts.ae)
DIFC Investments- The creation of DIFC Investments will result in the allocation to it of all non public administration activities previously carried out by DIFC Authority. This will include amongst other things all commercial and other activities such as the operation and management of any current and future subsidiaries, the development of the centre's investment strategy and relevant policies and any other strategic investments or alliances which will further the goals and objectives of the Dubai International Financial Centre and contribute to the fulfillment of the Centre's vision. Some of the companies and organizations that DIFC Investments owns include:
1. The Dubai International Financial Exchange (DIFX) The DIFX is the region's first international financial exchange for equities, bonds, Islamic products, funds, index products and (subject to regulatory approval) derivatives. The target areas of the DIFX for seeking issuers include the Middle East and North Africa, as well as South Africa, Turkey and the Indian sub-continent. The regulator of the DIFX is the Dubai Financial Services Authority. The DIFX is located in the Dubai International Financial Centre (DIFC) and its owner is the DIFC Authority. (www.difx.ae)
2. Hawkamah- the first Institute for Corporate Governance in the region, has been established in partnership with a group of international institutions, including the Dubai International Financial Centre (DIFC), Organisation for Economic Cooperation and Development (OECD), UAE Ministry of Finance and Industry, Centre for International Private Enterprise (CIPE), International Finance Corporation (IFC), the Union of Arab Banks (UAB), Dubai School of Government (DSG), Young Arab Leaders (YAL), and the Institute of Management Development (IMD). (www.hawkamah.org).
Adnan Zaidi
Managing Director
Level 41 of Emirates Towers
PO Box 506700
Sheikh Zayed Road
Dubai, United Arab Emirates
Telephone
: +971 4 319 9342
: +971 50 319 6564
Media enquiries on the DIFC:
Shaima Al Zarouni
Dubai International Financial Centre
Tel: +971 4 362 2432
About the DIFC:
The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centers of Hong Kong and London and services a region with the largest untapped emerging market for financial services.
In just under two years, over 400 firms have registered at the DIFC. They operate in an open environment complemented with world-class regulations and standards. The DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards.
The DIFC is made up of the following core bodies:
1. The DIFC Authority (DIFCA) - Responsible for the Companies and Security Registries and attracting financial as well as non-financial institutions to set up in the DIFC. The DIFC Authority is also responsible for developing the financial services industry. (www.difc.ae)
2. The Dubai Financial Services Authority (DFSA) - An independent, unitary regulatory authority, responsible for the regulation of all DIFC operations. Its principle-based primary legislation is modeled on that used in London and New York and its regulatory regime operates to standards that meet or exceed those in major financial centers. (www.dfsa.ae)
3. The DIFC Courts - An independent court system set up to uphold the provisions of DIFC laws and regulations, the courts provide comprehensive legal redress in civil and commercial matters within the DIFC. The DIFC Courts system is especially designed to deal with all of sophisticated transactions that will be conducted within DIFC. The DIFC Court laws, based on the common law, not only sets out the jurisdiction of the court but also provides for a dispute resolution services, including arbitration and mediation, thus allowing for the independent administration of justice in the DIFC. ( www.difccourts.ae)
DIFC Investments- The creation of DIFC Investments will result in the allocation to it of all non public administration activities previously carried out by DIFC Authority. This will include amongst other things all commercial and other activities such as the operation and management of any current and future subsidiaries, the development of the centre's investment strategy and relevant policies and any other strategic investments or alliances which will further the goals and objectives of the Dubai International Financial Centre and contribute to the fulfillment of the Centre's vision. Some of the companies and organizations that DIFC Investments owns include:
1. The Dubai International Financial Exchange (DIFX) The DIFX is the region's first international financial exchange for equities, bonds, Islamic products, funds, index products and (subject to regulatory approval) derivatives. The target areas of the DIFX for seeking issuers include the Middle East and North Africa, as well as South Africa, Turkey and the Indian sub-continent. The regulator of the DIFX is the Dubai Financial Services Authority. The DIFX is located in the Dubai International Financial Centre (DIFC) and its owner is the DIFC Authority. (www.difx.ae)
2. Hawkamah- the first Institute for Corporate Governance in the region, has been established in partnership with a group of international institutions, including the Dubai International Financial Centre (DIFC), Organisation for Economic Cooperation and Development (OECD), UAE Ministry of Finance and Industry, Centre for International Private Enterprise (CIPE), International Finance Corporation (IFC), the Union of Arab Banks (UAB), Dubai School of Government (DSG), Young Arab Leaders (YAL), and the Institute of Management Development (IMD). (www.hawkamah.org).
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