Free space

Blond hair, blue eyes

Faisal Muhammad Al-Shamri

03 October 2020

Financial reports and administrative and technical consultations when they come from some companies. Banks and credit companies look at them as constitutions that cannot be changed. Open Sesame », and you see billions of rain-laden clouds falling in a tropical storm, while if one of them went without a document of forgiveness from these consulting firms, the doors would be locked in his face, and he would have hit fifths into sixths without result.

Foreign regulatory authorities have investigated the existence of a conflict of interest with one of these companies, as reported by some newspapers and supervisory sources, as well as the reliability and validity of one of their reports that they issued to us, with the possibility of accountability for this report, and the presence of deterrent penalties and announced sanctions expected;

Contributes to shaking one of the pillars of global consulting companies, which leads us to ask: Which of our bodies are authorized to take deterrent measures and verify the credibility of the work and reports of these companies and hold them accountable for any defect or error intended or unintended?

Rather, matters must reach, if it is proven that there is gross negligence or deliberate error, to civil and criminal accountability for those involved or those involved, with a decision to prevent or stop contracting with whomever is proven to do so.

It is also hoped to prevent banks and banks from adopting studies and reports based on copying or cutting and pasting, so we are not surprised when we sometimes hear that a study cost 6 or 7 zeros, the concerned parties did not bother changing the name of an institution in another continent to the contracting party with us.

The worse is to find two competing banks or companies contracting with the same company to provide studies that show from their scope the existence of a conflict of interest, while the controls did not prevent them and they did not refrain from declaring it, so whoever is safe from punishment misbehaves.

The reality of the situation prompts us to ask about the reasons for not adopting local or Arab consulting companies for evaluation or issuance of monitoring reports or specialized consulting studies, which reminds us of the popular proverb that mentions the warm and the goat, and there is no room for mentioning it here as literature and to prevent embarrassment, and therefore we are satisfied with saying: The singer of the neighborhood Not happy.

We hope that the concerned financial regulatory authorities will take what is necessary to stop the cutting and pasting studies, and to verify the transparency and integrity of the supervisory reports of some of these companies that claim to be global. Blue lenses and dye hair blonde.

A non-resident internal administrative advisor at the Emirates Knowledge and Consulting Center at the Mohammed bin Rashid School of Government

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