Exciting Update for UAE Gold Refiners in 2024! - All UAE gold refineries are required to submit audited reports by Q1 2024
As we step into the new year, the UAE's gold refining industry is poised for a significant transformation. Commencing January 2024, all refineries are set to enhance transparency by engaging third-party auditors. The culmination in March will witness the submission of audited reports, symbolizing a monumental leap toward industry resilience.
Safeya Al Safi, Director of the Anti-Money Laundering Department at the UAE’s Ministry of Economy, highlights the pivotal role of external auditors. Their focus on assessing risk management ensures comprehensive reports are submitted to the Ministry, nurturing accountability and responsible practices.
This commitment seamlessly extends to compliance with responsible sourcing regulations for licensed refineries across both mainland and free zones. The Ministry's proactive stance involves rigorous onsite and offsite inspections, with an ambitious target of 3,336 inspections scheduled for 2023.
With our extensive expertise, BMS Auditing is prepared to help gold refineries in the United Arab Emirates meet the Q1 2024 auditing deadline. With our comprehensive support for improving transparency, risk management, and compliance with responsible sourcing regulations, our customized solutions guarantee a smooth transition. Join hands with BMS Auditing to elevate your refining practices in 2024!
Stay tuned for more updates as the UAE gold refining sector continues its unwavering commitment to the highest standards, embracing positive changes in 2024!
#UAEGoldRefiners #GoldExcellence #InnovationInRefinement
Welder at BCM Group
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