Protiviti Inc., (www.protiviti.com ) a global business consulting and internal audit firm, today announced that Bahrain Commercial Facilities Company (BCFC), a finance company, has implemented Protiviti's Governance Portal to automate and standardize its internal audit approach driving increased consistency in planning and execution. The BCFC implementation, the firm's first in Bahrain, reflects Protiviti's growing momentum in Gulf Cooperation Council countries.
"The Governance Portal is the most logical solution for us because it's easy to implement and use and is backed by one of the best internal audit service providers in the world. We especially appreciate that Protiviti's Member Firm has local expertise here in Bahrain to support us," said Shahab Ahmed, chief internal auditor at BCFC (www.bahraincredit.com.bh ). "The Governance Portal also helps prepare us for the future. Its comprehensive governance, risk and compliance capabilities will support new applications as we need them."
"Protiviti continues to expand its presence in Gulf Cooperation Council countries to meet the growing demand for our solutions in the region," said Scott Gracyalny, managing director and global lead of Protiviti's Risk Technologies group. "Like many other organizations in this region and around the world, Bahrain Commercial Facilities Company has found that the Governance Portal is easy to deploy and use, accelerating the time to realizing benefits and lowering the total cost of ownership, while also enabling integration of internal auditing into its larger GRC program."
The Governance Portal is an industry-leading enterprise governance, risk and compliance (EGRC) software platform that allows organizations to address multiple GRC objectives. A recipient of various industry accolades, the Governance Portal integrates Protiviti's proprietary content and consulting expertise with commonly accepted governance frameworks to establish a comprehensive platform that gives organizations the visibility and insight they need to manage and mitigate critical risk and compliance issues. The Governance Portal for Internal Audit enables organizations to automate the audit process from risk assessment through reporting; identify and assess risks through integrated surveys to simplify the feedback process; tie risks to key processes and organizations that feed the audit planning process; and easily integrate internal auditing into the GRC program.
"Our expertise in internal auditing along with the advanced risk assessment, planning, and documentation capabilities of the Governance Portal create an unbeatable combination for an increasing number of organizations in the Gulf Cooperation Council countries," said Manoj Kabra, managing director of Protiviti's Member Firm for the Middle East Region. "We are committed to continuing to grow our presence here and providing the local support these organizations need to optimize their internal auditing and GRC activities."
BCFC, a leading non-banking finance company headquartered in Manama, Bahrain, provides short, medium and long-term consumer financial services and retail products across financing, insurance, real estate, and automobiles. BCFC has also established several subsidiary companies, including National Motor Company (www.nmc.com.bh ), Tas'heelat Insurance Services Co. WLL, and Tas'heelat Real Estate Services Company psc. National Motor is the sole agent in the Kingdom of Bahrain for world-class automotive brands such as Honda, Chevrolet, Cadillac, GMC and HUMMER.