Compliance Consultancy
Temple Professionals Ltd provides adapted compliance risk management solutions designed to bring clients into compliance with the standards set by the Mauritian regulatory authorities the Financial Services Commission and the Bank of Mauritius) as well as international best practices. In offering compliance solutions, Temple Professionals Ltd believes that effective risk management must not be achieved to the detriment of commercial objectives. Hence, we work with our clients to adapt our techniques to embed solutions into their organisation’s practice. |
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We endeavour to adopt an integrated approach to risk, believing that risks are inter-connected. Effective compliance risk management can only be achieved through the implementation of both flexible systems and human-based solutions.
The compliance services we provide to financial services businesses include:
- Compliance (including AML/CFT) reviews/audits
- Drafting of manuals, policies, procedures
- Drafting and management of compliance monitoring plans
- Assistance in dealing with the regulatory authorities (licensing applications, letters and negotiations with the regulators/authorities, among others)
- In-house Training on compliance
Purchaser Due Diligence
The recent financial turmoil and globalisation in general have changed the way in which businesses are organised. It seems there has been a quasi-natural move by organisations to grow through mergers and acquisitions. Such mergers and acquisitions may not always be achieved at real shareholder value. Mergers, acquisitions and/or investments in financial businesses that may not have adequate controls/systems or client relationship may indicate a likelihood of future cost, which should be avoided.
In that respect, Purchaser Due Diligence is one of the most important pre-deal steps. Whilst the emphasis is generally put on financial aspects, our due diligence services focuses on non-financial aspects including systems and clients relationships.
The Purchaser Due Diligence Services we provide include:
- Assessment of level of compliance with legal and regulatory environment
- Assessment of the compliance resource and control environment
- Assessment of the Corporate Governance including the quality of management information and effectiveness of action/decisions
- Assessment of the nature of clients’ relationships including legality and potential regulatory issues.
Regulatory Environment Due Diligence Services
Environmental Due Diligence is commonly used in manufacturing industries but appears not to be fully applied in the financial services realm. The main reason is that the dangers of non compliance to norms in the financial services industry did not, until the last decade, make the headlines. The growth of the financial services pillar in the Mauritian economy, coupled with the ever-evolving range of regulations now mean that a financial businesses and/or investors must ensure that they comply with the standards of the environment they work in. No financial investment is fully risk-free but we can enable you to understand the risks before taking a decision.
The Regulatory Environment Due Diligence encompasses the following inter alia:
- Review of financial services related laws, regulations, codes of practice, regulatory guidance notes/guidelines
- Proposed changes to the legal and regulatory environment
Governance Services
The link between the effectiveness of a compliance system and good governance is essential for a business to achieve its commercial objectives whilst mitigating its risks. Businesses are thus strongly advised to assess their risk management performance on a regular basis. Experience shows that an independent person’s assessment and analysis of the corporate governance systems allows detecting issues that may not be apprehended in the normal course of business by operators.
Our Governance Services include:
- Governance Assessments
- Identification, prioritisation, monitoring and management of key risks
- Assistance to the Board of Directors in assessing the effectiveness of key risk control functions
- Identifying opportunities to mitigate the ‘human factors’ at work within an organisation
- Assisting in creating and reviewing a compliance monitoring programme
Other Consultancy Services
In addition to the provision of its core consultancy services, Temple Professionals Ltd also provides assistance to all types of businesses (whether financial services or non financial services) on various matters.
The type of work carried out includes assistance in drafting reports (annual reports and CSR reports, among others) translation work (English/French – French/English), acting as liaison between our clients’ various service providers (i.e. the client comes to us as a one-stop shop), assistance in dealing with authorities (correspondence and meetings, among others), assistance in preparing and reviewing corporate presentations, among others.
