effective use of technologies and process management
effective use of technologies and process management
How can we help?
Morison Menon Limited (MM Limited) is incorporated within the DIFC as an ancillary service provider and regulated by the DFSA. The firm is headed by Mr. Prabhakar Kamath, Partner and CEO, who is a seasoned finance professional with over 20 years of experience in the field of Accounting, Consulting and investment analysis. He is a Chartered Accountant from India and a CFA charter holder (having earned the charter in August 2006) from CFA Institute, USA.
MM Limited is part of the Morison Menon Group, a leading audit, accounting and consulting firm in the Middle East.
We provide the following services:
- Assistance in Authorization
- Compliance Solutions
- Internal Audit
- CFO Outsourcing
- PIB reporting expertise and assistance
- Risk Management
- Accounting and payroll services
- Liquidation Services
- Company Secretarial Services
- Fund Setups
- GIPS (Global Investment Performance Standards) Consulting
- External Audit (through Morison Menon Chartered Accountants, Dubai)
- IT Consultancy services & IT Audit & compliance (through MMIT Consultancy, Dubai)
Assistance in Authorization
Firms that wish to incorporate in the UAE can do so either in the mainland, or in the Dubai International Financial Center, or DIFC. We assist clients in arriving at this all-important decision on where to base their business, based on the current requirements and future expansion plans. Firms wishing to incorporate in the DIFC are also made aware of the related rules and regulations, requirements and allowed activities at the DIFC.
Our authorization services include:
- Preparation and review of the regulatory business plan
- Preparation of the financial models and PIB
- Advise on corporate structures, governance and compliance
- Documentation preparation
- Acting as project managers for your application
- Completion of all documentation for incorporation of the legal structure of the firm in the DIFC
We are authorized by the DIFC to provide compliance outsourcing services. We have a focused approach towards this responsibility and hence provide this service to select clients only. This ensures adherence to the highest quality of service and proper discharge of the related duties.
We also undertake comprehensive reviews of existing compliance manuals to ensure that they are up-to-date and in tune with the existing operational requirements.
Our compliance-related services:
- Compliance outsourcing
- Compliance documentation
- Structuring of the compliance department
- Compliance monitoring
- Compliance audits
The DFSA recommends that all authorized firms undertake a detailed internal audit of their compliance, KYC and other procedures on a regular basis. We extend our assistance in complying with this requirement. Our scope of the audit includes:
- Review of existing policies, procedures, controls and forms
- Audit of internal controls and systems
- Review and testing of the effectiveness of the regulatory compliance procedures
- Verification of transactions
- Retainer services- provision of Authorized Individuals
- Handling the finance function
- Regular reporting to the Board, management and DFSA
PIB reporting expertise and assistance
The Prudential reports (PIB) form an integral part of the DFSA reporting requirements. Completing the PIB forms can be a daunting and time-consuming task. Our experienced finance professionals and PIB experts shall assist you with the quarterly reporting and be available to clarify any queries that you may have on the reporting and the Prudential rules.Looking beyond regulation- our services include:
- Assessing the risks associated with your business
- Construction of risk matrices
- Risk management policies
- Risk reviews
Accounting and payroll services
Morison Menon Limited is authorized by the DIFC to provide accounting services. We shall be able to address the accounting needs of your firm and assist in hassle-free maintenance of the books of accounts. We are also able to provide accounting services to funds and fund operators.We are registered with the DIFC as insolvency practitioners and provide turnkey solutions for the winding down of regulated and non-regulated entities.
- Drafting of the required Resolutions and statutory declarations
- Issuance of Liquidation reports
- Completion of the liquidation formalities with the DIFC
We assist in the creation of collective investment schemes in both offshore and onshore centers
- Fund structures
- Preparation of the fund documentation
- Incorporation of the fund and asset manager
GIPS (Global Investment Performance Standards) Consulting
We can also help CIF operators and Asset Managers prepare performance evaluation reports in accordance with Global Investment Performance Standards (GIPS®), issued by CFA Institute, USA. Adopting and reporting in accordance with GIPS will ensure accurate and consistent reporting and fosters the notion of self regulation. More importantly, the GIPS compliant firms will be able to compete in the international arena.
DFSA recommends that CIF operators follow GIPS while presenting the performance information.
