It is a cliché but is a fact that in today’s rapidly evolving business landscape, continuous learning and development are critical for staying competitive, especially in dynamic markets like the UAE and KSA. This is more so because the Gurus of geopolitics & geo-economics are indicating Middle East to be the big thing, the center of economic activity.

At ATF Global, we understand the importance of effective corporate training, risk management, and internal audit practices in driving success.

That’s why we’re diving into a powerful framework that aligns perfectly with our mission: the 70-20-10 rule. This isn’t just another training fad; it’s a science-backed approach to how adults truly learn, and it can transform the way your organization approaches learning and development.

The 70-20-10 model is a learning and development (L&D) framework that describes how people learn and build knowledge. It suggests that learning occurs through a combination of three types of experiences:

1. On-the-job experiences and challenging assignments.
2. Social learning through relationships, colleagues, and mentors.
3. Formal learning through coursework and training.

Developed in the 1980s by Morgan McCall, Michael Lombardo, and Robert Eichinger from the Center for Creative Leadership, the 70-20-10 model emerged from a study of executives who self-reported how they believed they learned. The researchers asked 191 executives to identify key events in their careers that significantly impacted their management styles. The results indicated that most learning came from challenging work assignments and developmental relationships.

Adult learning theories emphasize that adults learn differently than children. Adults bring a wealth of life experiences, have established learning preferences, and are often motivated by internal factors such as personal growth and career advancement. The 70-20-10 rule aligns with these principles by recognizing the importance of experiential and social learning, which tap into adults’ existing knowledge and motivations.

This component emphasizes hands-on experience, challenging assignments, and real-world problem-solving. Experiential learning is highly effective because it allows adults to apply new knowledge and skills in a practical context, reinforcing learning and promoting deeper understanding. In the context of risk management, this could involve leading a critical project in KSA, participating in a complex internal audit, or navigating a challenging financial scenario in the UAE.

Social learning involves learning through interactions with others, such as colleagues, mentors, and supervisors. This type of learning is valuable because it provides opportunities for adults to share knowledge, receive feedback, and learn from others’ experiences. Within corporate training, this could mean participating in group problem-solving exercises, receiving mentorship from a senior colleague, or collaborating with peers on a project in a different region of the Middle East.

Formal learning includes traditional training methods such as workshops, courses, and online modules. While formal learning is essential for providing foundational knowledge and skills, it is most effective when combined with experiential and social learning. For instance, attending a seminar on the latest tax regulations in the UAE or completing an online course on internal audit best practices provides a base upon which to build through practical application and peer interaction.

The 70-20-10 model can be a game-changer for corporate training programs, especially within sectors like finance, tax, risk management, and internal audit. Here’s how to apply it effectively:

• Offer employees opportunities to lead challenging projects that stretch their skills and knowledge. For example, assign a team to develop a risk management strategy for a new market in KSA or lead an internal audit of a critical business function.
• Create realistic simulations that allow employees to practice decision-making in a safe environment. This could involve simulating a financial crisis, a cybersecurity breach, or a regulatory audit.
• Implement job rotation programs that allow employees to experience different roles and functions within the organization. This can broaden their understanding of the business and expose them to new challenges and perspectives.
• Pair junior employees with experienced mentors who can provide guidance, support, and feedback. Mentors can share their insights on risk management, corporate training, and internal audit practices, helping mentees develop their skills and advance their careers.
• Create communities of practice where employees can connect with peers, share knowledge, and collaborate on projects. These communities can be organized around specific topics such as tax compliance in the UAE, fraud detection, or data analytics for internal audit.
• Encourage employees to coach each other on specific skills or knowledge areas. Peer coaching can be an effective way to reinforce learning and build stronger relationships within the team.
• Ensure that formal training programs are relevant to employees’ jobs and responsibilities. Focus on providing practical skills and knowledge that employees can apply immediately in their work.
• Use engaging delivery methods such as interactive workshops, case studies, and simulations to make formal learning more effective. Incorporate multimedia elements such as videos, animations, and gamification to keep learners motivated and engaged.
• Promote a culture of continuous learning by providing employees with access to online learning resources, industry conferences, and professional development opportunities. Encourage employees to stay up-to-date on the latest trends and best practices in their fields.

Implementing the 70-20-10 rule in your organization can lead to numerous benefits:

1. By providing employees with opportunities to learn through experience, social interaction, and formal training, you can enhance their skills, knowledge, and performance.
2. The 70-20-10 model can make learning more engaging and relevant, leading to higher levels of employee motivation and job satisfaction.
3. Experiential and social learning can improve knowledge retention by providing employees with opportunities to apply new concepts and skills in real-world contexts.
4. By fostering a culture of continuous learning and development, you can create a more innovative, adaptable, and resilient organization.

The 70-20-10 model can help align learning and development initiatives with business goals by ensuring that employees are developing the skills and knowledge they need to succeed in their roles.

While the 70-20-10 rule offers a powerful framework for adult learning, it’s important to be aware of potential challenges and considerations:

The 70-20-10 rule is a guideline, not a rigid formula. The specific ratio may need to be adjusted based on the individual learner, the nature of the content, and the organizational context.

Implementing the 70-20-10 rule requires a supportive environment where employees feel comfortable taking risks, experimenting with new ideas, and learning from their mistakes.

It can be challenging to measure the impact of experiential and social learning. Organizations need to develop metrics and evaluation methods to assess the effectiveness of their 70-20-10 initiatives.

• Ensure that all employees have access to experiential and social learning opportunities, regardless of their location, background, or job role.
• Assign risk management professionals to lead risk assessments for new projects in the UAE and KSA. Have them present their findings to senior management and develop mitigation strategies.
• Create a mentorship program where junior risk analysts are paired with senior risk managers. Encourage them to participate in industry events and conferences to network with peers and learn from experts.
• Provide access to online courses and workshops on risk management frameworks, tools, and techniques. Offer certifications in areas such as ISO 31000 or COSO.
• Involve internal auditors in conducting audits of critical business functions, such as finance, operations, and compliance. Assign them to lead specific audit areas and present their findings to audit committees.
• Establish a community of practice for internal auditors to share knowledge, discuss challenges, and collaborate on best practices. Encourage them to participate in peer reviews and benchmarking exercises.
• Provide access to training programs on internal audit methodologies, fraud detection, and data analytics. Offer certifications such as Certified Internal Auditor (CIA) or Certified Fraud Examiner (CFE).
• Allow tax professionals to manage real-world tax compliance projects for clients in the UAE and KSA. This includes preparing tax returns, advising on tax planning strategies, and representing clients in tax audits.
• Facilitate knowledge sharing sessions where tax professionals can discuss recent tax law changes, share best practices, and learn from each other’s experiences. Encourage participation in tax industry forums and events.
• Offer specialized training on UAE and KSA tax laws, regulations, and reporting requirements. Provide access to resources such as tax research databases and professional journals.

Lila Davachi, Associate Professor of Psychology at New York University, proposed the AGES (Attention-Generation-Emotion-Spacing) model, which highlights four key elements essential for effective adult learning:

1. Capturing and maintaining the learner’s focus.
2. Actively involving the learner in the learning process.
3. Creating an emotional connection to the material.
4. Spacing out learning sessions over time to improve retention.

Conclusion

The 70-20-10 rule offers a valuable framework for designing effective learning and development programs that align with how adults truly learn6. By prioritizing experiential and social learning, organizations can enhance employee performance, increase engagement, and foster a culture of continuous improvement7. At ATF Global, we’re committed to helping our clients in the UAE, KSA, and across the Middle East leverage the 70-20-10 rule to drive success in risk management, corporate training, internal audit, and beyond5. Embrace the science of adult learning and unlock the full potential of your workforce.

Why Choose ATF GLOBAL for Internal Audit Services in UAE?

ATF GLOBAL has a proven track record of providing expert internal audit services in UAE and KSA, We understand the nuances of risk assessment and compliance within the region. Our accountants offer advice on effective audit procedures and can assist with conducting thorough audits. ATF GLOBAL also specializes in CFO Services, Auditing Services, Accounting & Bookkeeping Services, Accounting Software services, Due Diligence Services, and Tax Filing & VAT Consultancy services.

Contact us today for a free consultation and let us help you navigate the complexities of internal audit, corporate training and risk management.

📩 Email us: info@atfglobals.com
🌐 Visit our website: www.atfglobals.com
📞 Call us: +971-503 445057 & +971-434 75552

🔗 Connect with us on LinkedIn: https://www.linkedin.com/company/atf-global-consultants-advisors/ Let’s build a stronger, more secure future for your business—With ATF Global! 🚀

In today’s rapidly evolving business landscape, companies face a multitude of challenges that can impact their financial health and long-term sustainability. While many organizations focus on traditional financial risks, it’s the hidden, often overlooked threats that can truly derail even the well-prepared businesses.

For financial Advisory providers like ATF Global, understanding and mitigating these hidden risks is crucial for maintaining stability and providing valuable risk management plan to clients in the UAE and KSA.

Why Hidden Risks Matter

Hidden financial risks are exposures that often go unnoticed until they manifest into significant problems. These risks can stem from various sources, including technological advancements, changing market conditions, and internal operational inefficiencies. Unlike readily quantifiable financial risks, these hidden threats are often difficult to identify and measure, making them particularly dangerous.

Ignoring these risks can lead to severe financial losses, reputational damage, and even business failure.

Common Hidden Risks in Business

• Non-Traditional Threats: Cyber risk, strategic risk, operational risk, regulatory risk, and legal risk. These can have real impacts on financial performance across the enterprise.
• Technological Risks: Rapid technological innovation brings new threats like cyber security breaches, AI malfunctions, and block chain vulnerabilities.
• Liquidity Risk: The problem of generating sufficient cash flow to survive and grow.
• Compliance Risks: Corruption, fraud, ESG requirements, labor law compliance, and health and safety regulations.
• Market and Credit Risks: Macroeconomic forces, changes to market interest rates, and the possibility of default.
• Unforeseen Circumstances: A client’s changing circumstances, needs, and aspirations open holes that allow hidden risks to creep in.

Identifying and Mitigating Hidden Risks

• Comprehensive Risk Assessment: Conduct a thorough examination of all business operations and financial transactions.
• Education and Training: Educate yourself and your team on potential hidden risks and how to identify them.
• Regular Client Meetings: Meet regularly with clients to ensure that hidden risks haven’t crept into their lives.
• Leverage Digital Tools: Utilize accounting software and ERP systems to collect, organize, and report financial data in real-time, uncovering both obvious and hidden financial risks.
• Expert Partnerships: Partner with other practitioners (e.g., legal professionals, insurance advisors) to present holistic solutions.

The Role of Risk Management Services

For companies like ATF Global, offering comprehensive risk management services is essential. These services can help businesses in the UAE and KSA, by doing following:

• Develop Mitigation Strategies: Create customized strategies to minimize the impact of identified risks.
• Implement Internal Controls: Establish clear policies, ethical standards, and practices to guide operations and inform decisions.
• Ensure Regulatory Compliance: Navigate the complex landscape of regulatory requirements to avoid legal and financial penalties.
• Provide Corporate Training: Offer training programs to foster a company culture based on risk awareness and ethical behavior.

Conclusion

In an increasingly complex and uncertain business environment, hidden risks pose a significant threat to organizations of all sizes. By proactively identifying and mitigating these threats, businesses can protect their financial health, maintain their competitive advantage, and achieve long-term success. For businesses in the UAE and KSA, partnering with experienced Risk management Agency like ATF Global can provide the expertise and support needed to navigate these challenges and build a more resilient future.

Secure Your Business Future with ATF Global!

At ATF Global, we specialize in risk management Process and risk management Framework, internal audit report, corporate training, and financial services, ensuring your business stays resilient by providing best financial risk management practices in Dubai (UAE) and KSA. Don’t leave your success to chance—partner with us for expert solutions tailored to your needs.

📩 Email us: info@atfglobals.com
🌐 Visit our website: www.atfglobals.com
📞 Call us: +971-503 445057 & +971-434 75552

🔗 Connect with us on LinkedIn: https://www.linkedin.com/company/atf-global-consultants-advisors/

Let’s build a stronger, more secure future for your business—With ATF Global! 🚀

Governance landscape continues to evolve around us, and with it the role of Internal Audit. The role of keeping yourself aware of the financial standing of oneself and his company was never been so important in history than in today’s world. Because the risks involved in the fragile financial structure will eventually lead to financial loses and long-term consequences.

In this situation internal audit services are your ears and eyes. Especially in Dubai, UAE, and in KSA robust internal audits are crucial for maintaining financial health and regulatory compliance.

Also it is mandatory for publically listed companies and other companies reaching a particular size.

Internal Audit is an independent function within an organization focused on measuring internal control procedures and ensuring quality. To achieve this, the Internal Audit Department requires a well-defined framework outlining its policies and procedures. This ensures consistency in approach and methodology, ultimately helping organizations achieve security from financial frauds and compliance with Government regulations.

Benefits of Effective Internal Audit Services

• Implementing comprehensive internal audit services in UAE provides numerous advantages:
• Accurate financial processing
• Well-defined policies and procedures about Risk Assessment and crisis management
• Strong safeguards against fraud detection and risks
• Effective operational risk management and information systems controls
• Clearly defined Business continuity planning
• Enhanced credibility of financial reports
• Reasonable assurance for Successful external audits

How internal audits enhance corporate governance in UAE and KSA?

Internal audits significantly enhance corporate governance in the UAE and Kingdom of Saudi Arabia. This is because these areas have stringent regulatory environments and robust corporate governance practices have ensured them to attract investors from all over the world. The businesses and people can be caught off-guard. The best and reliable way to avoid any penalties, business and financial loss is to hire services of a reputable and reliable internal audit firm to help you relieve of this worry and focus on business growth.

There are many examples where big and small companies benefitted from conducting and improving internal Audit system. Big companies like ADNOC to small trading companies all can do them a favor by opting for a reputable and systematic firm like ATF Global for internal audits.

As a small tip we can share that many clients didn’t knew beforehand that the 5% duty on import of goods is waived 100% when 30% of the imported items are exported from Dubai. This and many more regulations which are meant to facilitate businesses all across Middle East are missed by the clients who aren’t attached to a practicing auditing firm.

Resource Requirement Planning and Risk Management

One of the key benefits of internal audit is the Effective Resource Requirement Planning (RRP) and risk management. It is essential for planning productive resources like machinery, personnel, services and funds. This involves considering the product profile and production per month.

Material resource planning is crucial at various levels:

• Inventory Levels: RRP systems enable inventory managers to reduce component parts and raw materials, lowering inventory holding costs.
• Purchasing Planning: This aspect ensures the right inventory levels to meet demand, facilitating future production planning.
• Production Planning: Based on available resources and market demand, efficient production planning is essential.
• Work Scheduling: Balancing workload and material resources ensures smooth operations without overstaffing.

Keeping the Big Picture in Mind for Corporate Disaster Prevention

Clarity on your goals is paramount. By keeping the big picture in mind, businesses in Dubai, UAE and Saudi Arabia can mitigate negative impacts and enhance corporate disaster prevention. Video-based monitoring can help identify potential pitfalls, increase productivity, and improve ROI. Internal audit videos, for example, can help measure compliance audit adherence, employee performance, and potential reputational risks.

Key Skills to look for in Internal Auditors

For a successful internal audit service in Dubai, UAE and KSA, strong technical and theoretical skills are essential. However, exceptional internal auditors possess additional characteristics:

• Vision and Instinct: They develop a keen understanding of clients’ businesses and situations, offering valuable insights. Auditors must quickly grasp the organization’s structure and key attributes.
• Big Picture Thinking: Identifying the broader business context is critical. This is achieved when the internal auditing firm / personnel are well aware of the business environment in general, government regulations, and geo-economic situations which are ever demanding and changing.
• People Skills: Internal auditors must be team players, capable of working with diverse clients and maintaining strong relationships. The best approach for good auditors is to serve as a bridge in covering the shortfalls of financial hierarchy.
• Decision-Making Ability: The team of Effective internal auditing service providers consists of strong decision-makers, capable of navigating complex trade-offs. Such a firm gives run-time solutions to problems, thus not only saving time but preventing potential losses from occurring beforehand.
• Leadership: A good internal audit service provider firm strives to be a trusted advisor, guiding clients through crucial decisions related to corporate governance. The freedom of worry from the pitfalls of financial structures, regulatory duties, record-keeping, right channels of cash flow are the things required from leadership quality of a good internal auditing firm.

The Auditor Mindset and Regulatory Compliance

An auditor’s mindset involves a cognitive orientation focused on task completion. Internal auditors review both financial and non-financial aspects of a company, aiding informed decision-making. They ensure policies and procedures align with international standards and regulatory compliance UAE and other governments involved.

Planning for Unexpected Events and Business Continuity

Unexpected events like natural disasters or economic downturns can significantly impact business operations, leading to financial and non-financial risks.

While predicting the future is impossible, business continuity planning is crucial. This involves:

• A detailed list of potential risks
• Action plans to address these risks
• Emergency funds and insurance coverage

Avoiding Lengthy Audit Reports and Enhancing Governance

An internal audit report is the culmination of the audit process, providing management with insights for decision-making. The report should highlight positive aspects and areas for improvement. Concise and clear reports facilitate action plans and operational audits. The effectiveness of internal audit report can be felt like the warmth of your house.

Covering the pages and filling the tables like a formality which often drives people away from spending on internal audits and various businesses think it as a fixed expense like paying income tax or lease amount. It is a failure on part of the firm providing such services not to educate or enlighten businesses about the positive impacts of a solid internal audit. Effective internal audits enhance corporate governance by providing transparent and actionable insights.

Internal Audit Software and its increasing role in helping businesses grow

In today’s fast-evolving business landscape, internal audit software has become a game-changer for companies seeking efficiency, accuracy, and compliance. Traditional auditing methods often involve manual data entry, spreadsheets, and time-consuming documentation, which can lead to errors and inefficiencies. Modern audit management software automates these processes, allowing businesses to conduct real-time risk assessments, monitor compliance, and generate insightful reports with ease. This digital transformation not only enhances the accuracy of audits but also ensures that organizations remain aligned with regulatory requirements, reducing the risk of fines and legal complications.

Beyond compliance, internal audit software plays a strategic role in business growth by providing data-driven insights that help companies make informed decisions. Features like risk forecasting, fraud detection, workflow automation, and predictive analytics enable businesses to identify inefficiencies and optimize operations proactively. As companies in the UAE and globally embrace digital transformation, adopting internal audit software is no longer just an option but a necessity for sustainable growth, improved governance, and long-term success.

Why Choose ATF GLOBAL for Internal Audit Services in UAE?

ATF GLOBAL has a proven track record of providing expert internal audit services in UAE and KSA, We understand the nuances of risk assessment and compliance within the region. Our accountants offer advice on effective audit procedures and can assist with conducting thorough audits. ATF GLOBAL also specializes in CFO Services, Auditing Services, Accounting & Bookkeeping Services, Accounting Software services, Due Diligence Services, and Tax Filing & VAT Consultancy services.

Contact us today for a free consultation and let us help you navigate the complexities of internal audit, corporate training and risk management.

📩 Email us: info@atfglobals.com
🌐 Visit our website: www.atfglobals.com
📞 Call us: +971-503 445057 & +971-434 75552

🔗 Connect with us on LinkedIn: https://www.linkedin.com/company/atf-global-consultants-advisors/ Let’s build a stronger, more secure future for your business—With ATF Global! 🚀