The Lack of an internal audit department in a company called Mawarid Islamic finance in the UAE - Research Paper Example

Extract of sample
The Lack of an internal audit department in a company called Mawarid Islamic finance in the UAE

In accordance with the issues discussed in the paper Mawarid Finance’s strategy focuses on supporting and developing the national economy through the provision of Islamic financial services and products for small and medium enterprises (SMEs), which form the backbone of a nation’s economy, to enable them to develop, grow stronger and faster. The organization specializes in developing Shariah complaint economical or financial services. It provides eMurabaha that allows its clients to buy the goods offline or online; financing for the purchase of the items; letter of guarantee covering bib; online labor guarantees, and advance payment bonds, together with guarantees for the retention monies, customs duty, labor, home financing, maintenance. Moreover, it offers vehicle and property financing for people, and different services to the corporate sector, which include working capital, assets, deposits, trading activities and financing projects. Mawarid Finance is the only UAE’s financial institution that is absolutely independent. However, in an attempt to ensuring that it hands itself operational independence, we find that the distribution of its shares has been done across over three hundred and fifty shareholders, whereby organizations or even companies own less than five percent each of the capital there is no stake of an individual shareholder that is more than two and half percent. ...Show more

Summary

This proposal looks at the related problems of the lack of internal audit department in a company called Mawarid Islamic finance in the UAE. Mawarid Finance is an Islamic financing company established in 2006 in Dubai, United Arab Emirates with a paid up capital of AED 1 billion, and it is part of the financing industry…
Author : abdullahnolan
Save Your Time for More Important Things
Let us write or edit the research paper on your topic
"The Lack of an internal audit department in a company called Mawarid Islamic finance in the UAE"
with a personal 20% discount.
Grab the best paper

Related Essays

Islamic Finance
According to the research findings in the midst of the growing global economic crisis, Islamic banking and finance has proved to be with stand the crisis because it is here with a good cause that is to solve the credit crisis. The Islamic finance value is estimated to enjoy a phenomenal growth, with a global estimate value of approximately 1 trillion.
9 pages (2250 words) Essay
Finance: Audit and Assurance
A number for scandals have taken place not only in the United States but also across the globe mostly related to corporate governance, which has caused upheaval among various stakeholders of the company ranging from equity owners, government, and the public at large, which calls for strict measures to build trust among various stakeholders of the company.
7 pages (1750 words) Essay
Articles Relating to the Lack of an Internal Audit Department in a Company in the UAE
According to the article, the function of an independent internal audit is impartial, and the position that it holds within an organization does not appear to favor either side. It addition, it is in a position of defining the internal audit’s scope, authority to the acquiring of resources and information, as well as a proper structure of reporting to the executive.
7 pages (1750 words) Article
Audit and Internal Control Issues
The first part of the report identifies the major risks, which the company faces at present and the ways in which these risks can be eliminated. In the second part, the report discusses the information required and procedures to be performed for the purpose of audit planning and risk assessment of the entity.
6 pages (1500 words) Coursework
A report entitled "Audit concentration :lack of competition in the large company audit market"
The plan indicated that the Big Four companies should tender the audit report every five years which was actually tendered till then every 10 years (“Big Four Dismiss Claims They are Failing Shareholders”). The main idea behind the plan of CC was to expose the other audit companies to the market apart from the Big Four companies.
6 pages (1500 words) Assignment
Islamic Finance
Emergence of Islamic banking and economic system can be justified by the major economic failures of capitalism (BATRA, 1990). Decision making in capitalism if considered by individual’s opinion to rationalize his demands is definitely more in capitalism than communism.
6 pages (1500 words) Essay
Internal Audit Deparment Background description about TJX Company.
This helps the organization in ensuring the financial reporting procedure is within the established regulations and the accounting ethics practices (TJX.com, 1). In addition, it helps the senior management and audit committee in ensuring there is efficient, adequate and effective internal control systems in the company.
4 pages (1000 words) Essay
A financial comparison on Zara and Burberry.(UK)
However, "Burberry was founded in 1856, when Thomas Burberry constructed his first outerwear pieces for the local sportsmen of Basingstoke, England. In the century and a half since then, Burberry has come to represent the standard for quality and style in outerwear, anchored by its iconic trench coats, now legendary the world over."
4 pages (1000 words) Essay
Find out how much would it cost
to get a custom paper written by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT