Latest news with #ICV
Khaleej Times
a day ago
- Business
- Khaleej Times
BMS Auditing unveils new Dubai headquarters and launches global audit literacy campaign
BMS Auditing LLC, a leading audit and consulting firm headquartered in Dubai with fully owned offices across all six GCC countries, the UK, and the USA, has announced major strategic initiatives aimed at enhancing audit transparency and strengthening financial competence on a global scale. Recognised as one of only 25 ICV-certified audit bodies by the UAE Ministry of Industry & Advanced Technology and among the exclusive 20 firms approved by the UAE Central Bank for official audit reportage — BMS continues to set new benchmarks in the industry. The announcement was made during a high-profile press conference at the Crowne Plaza Hotel, Deira, where senior executives revealed the near-completion of BMS's new, state-of-the-art corporate headquarters in Dubai. Expected to be fully operational within a month, the office will feature cutting-edge infrastructure and connectivity, underlining the company's steadfast commitment to advancing audit literacy and corporate governance. "Our new Dubai hub, supported by a team of 400 professionals, marks a transformative step in advancing audit education across regions," said CA Shehinsha K P, CEO of BMS Auditing. "This is part of our broader campaign comprising seminars and interactive workshops across the GCC, UK, and USA to elevate corporate governance standards globally." He also unveiled an ambitious hiring plan, stating that the company is actively recruiting over 100 professionals to support growth across the GCC and Western markets. Selvan Dharmaraj, senior director, added: "Our ICV and Central Bank credentials empower our clients with competitive leverage, enabling them to secure high-value contracts and benefit from streamlined financial services." Panelists at the event highlighted BMS's regional agility and international reach: Paul Gillies, Partner (UK), emphasised the firm's East-West integration model, delivering cohesive services across jurisdictions. Badar Saif Al Kindi, Partner (Oman), spoke on 'context-sensitive delivery, rooted in local laws, cultural nuances, and diverse tax environments. Musthafa Pallikkalakath, global advisor, reaffirmed the firm's ethical foundation: 'Our strong ethical framework is the bedrock of client trust and long-term accountability.' During an engaging Q&A session, the panel fielded questions on compliance standards, the deployment of digital audit tools, seminar content, and strategies for expanding audit literacy among SMEs and corporations.
Observer
7 days ago
- Business
- Observer
Building workforce capabilities for a sustainable economy
The Oman Vision 2040 includes strategic positioning such as improving the use of human resources, innovation, and institutional development. ICV further these objectives by including local human resource development as a requirement within industrial and commercial agreements. It also encourages the public-private partnership for the establishment of training and vocational institutes and other skills development programs aimed at enabling Omanis to fully engage in the economy. EXPLORING WORKFORCE CAPABILITIES Workforce capabilities are the skills, knowledge, attitudes, and actions that empower employees to execute their duties and align with the strategic objectives of the organization. In relation to sustainable economies, workforce capabilities encompass not only technical capabilities but also include soft skills, leadership, innovation, and ecological awareness. An agile and adaptive workforce is important for stimulating innovation, increased productivity, and global market competitiveness. In Oman, workforce development mitigates the challenges of ensuring that the economic returns from industrialization and foreign direct investments are retained domestically, thus promoting employment opportunities, income, and social development. STRATEGIC PRIORITIES 1. Improving the Education System and Vocational Training: A strong education system and vocational training offer a solid base for workforce capability enhancement. Oman is improving educational coverage. However, the alignment of educational content with labor market requirements still needs more attention. Technical and Vocational Education and Training (TVET): The TVET has to be comprehensive and aligned with high priority growth areas like energy, logistics, tourism, and information technology. Curricula development through public-private partnerships would enhance compliance with industry expectations. STEM Education: Focusing on the areas of science, technology, engineering, and mathematics (STEM) during secondary and higher education levels is fundamental in shaping the career pathways of the youth. Life-Long Learning: The workforce can stay relevant by encouraging continuous education through various online courses, professional certifications, and programs that provide training while working. 2. Driving Localization and Knowledge Transfer Initiatives: The Oman economy benefits from foreign direct investments and multinational corporations. Nevertheless, maximizing the In-Country Value (ICV) impacts requires local employee training and expatriate skill development. On-the-Job Training (OJT): Expatriate staff should be required to deliver formalized OJT to Omanis, thereby facilitating skills transfer. Mentorship Programs: Experienced Omanis can guide youths, catalyzing professional learning and enabling them to take on leadership roles sooner. Knowledge Management Systems: Ensuring ongoing expertise by documenting the processes, conducting workshops, and sharing internally sustains the institutional memory and expertise. 3. Encouraging Collaboration Between Public and Private Sectors: Partnerships among government agencies, educational institutions, and the private sector are essential to create effective and agile workforce ecosystem. Sector Councils: The creation of sectoral councils that include industry, education, and policy leaders can strategically advance economic needs. ICV Scorecards: The implementation of ICV scorecards to measure a company's progress in developing its workforce can promote accountability and stimulate investment in human capital. National Workforce Development Plans: Integrated skill mapping, labor market forecasting, and planning at the strategic level require skills gap identification and intervention design. 4. Entrepreneurial and Innovation Skills Development: Insolvency cannot occur without one being able to think outside the box and being an entrepreneur; it is an absolute necessity in the modern economy. Entrepreneurship Education: The creation of self-employment and SMEs can be achieved by including entrepreneurship in primary, secondary, and tertiary education. Innovation Hubs: Start-up accelerators and incubators can be of great assistance to young Omanis in establishing their own businesses if provided the appropriate resources and support. Digital Skills: Digital skills such as programming, data analysis, and cybersecurity should be integrated into all educational and vocational training frameworks. 5. Women and Underrepresented Groups Support: An economy is sustainable when it is inclusive. Providing targeted training makes it possible to employ women and marginalized groups which increases social equity as well as workforce diversity. Gender-Inclusive Policies: To promote female participation in employment, government agencies and companies need to implement policies granting work-from-home options, flexible schedules, and parental leave. Rural Development Programs: Providing vocational training and employment opportunities in the countryside enables Oman to balance development across all regions. CASE STUDIES AND BEST PRACTICES PDO's National Objectives Program: With the implementation of PDO's National Objectives Program, Petroleum Development Oman (PDO) has been a pioneer in workforce capability development. The initiative aims to create thousands of sustainable jobs for Omanis through collaboration with training providers and private sector companies. The program has led to the employment of thousands of Omanis in oil and gas, logistics, and facilities management sectors. Duqm Special Economic Zone: The Duqm SEZ is a center for industrial diversification. Construction, logistics, and energy training institutes within the zone collaborate with relevant industries to develop tailored curricula. These initiatives ensure that the economic development translates into benefits for the local population and fully supports the ICV objectives. National Employment Program (NEP): To address unemployment, the NEP has sought to enhance the skills of job seekers, connect them to private sector jobs, and even encourage them to become self-employed. The NEP utilizes labor market information to design appropriate training courses and improve workforce preparedness. WORKFORCE INITIATIVES Key Performance Indicators (KPIs) • Omani Employment Rates: Analyzing the Omanisation ratio in target sectors. • Investment in Training: Spending in training related to workforce development per company. • Certification and Skill Levels: Measuring the skills gained and certifications earned. • Employee Retention: Measurement of retention among trained skilled personnel. ICV SCORECARD IMPROVEMENTS To make sure that workforce development stays at the top of the agenda, the ICV scorecard could also include: • Points for the setting up of the training centers • Bonus for gender inclusivity for trainers and trainees • Recognized for outstanding performance in knowledge management CHALLENGES AND RECOMMENDATIONS • Skills Mismatch: Many graduates do not meet employers' expectations because the programs offered by institutions do not cater to job market demands. • Perceptions of Certain Occupations: Several segments of the population hold negative stereotypes associated with certain technical or service occupations. • Limited Engagement From Private Sector: A number of private organizations place an emphasis on immediate cost-saving measures rather than investing in long term workforce training and development. RECOMMENDATIONS • Curriculum Changes: Development and implementation of an active feedback loop for employer and industry input will ensure regular updates. • National Campaigns: Addressing and changing the negative stereotypes associated with various forms of work. • Employer Engagement Encouragement: Reduction in fiscal obligations for business that spend heavily on training and developing their local workforce. The project serves to bolster Islamic values by emphasizing the positive attributes of Oman's workforce as a whole, especially focusing on its resourcefulness, inclusivity, and global adaptability. As Oman looks to position itself alongside the rest of the globe in order to take advantage of emerging trends in green energy, digital transformation, and even artificial intelligence, it's important for the nation to proactively prepare its citizens for the workforce alongside the challenges and opportunities of the future. Ongoing investment in the country's human resources will be vital for the establishment of a resilient economy, something that needs to be guided by Oman's ambitions of ICV and Vision 2040. Enhancing workforce capabilities is vital for Oman—not just as an economic necessity, but as an imperative for the nation. With effective policies, crucial alliances, and investment in strategic human capital, it becomes possible for the Sultanate to position its people as active participants in development rather than passive onlookers. The In-Country Value framework offers a reliable starting point for the country's transformation journey—supporting the ideal that economic growth should result in tangible value for Oman and its citizens. As Oman progresses toward Vision 2040, workforce empowerment will remain critical in the attainment of a sustainable, inclusive, and prosperous future.
Yahoo
05-06-2025
- Politics
- Yahoo
How to apply for a role monitoring Spennymoor's new custody hub
Durham Police and Crime Commissioner Joy Allen is looking for volunteers to help provide oversight of police custody processes and the welfare of detainees. PCC Allen is recruiting for the Independent Custody Visitor (ICV) scheme, which involves making unannounced visits to custody suites to ensure detainees are being treated fairly and receiving the care they are entitled to. The new volunteers will focus their work at the recently opened Durham Investigative Hub near Spennymoor, which features 48 modern custody cells, interview rooms, medical facilities, and more than 6,600 square metres of office space. Ms Allen said: "Volunteers make a huge difference to the force area, especially within policing. "My Independent Custody Visitor (ICV) scheme is a perfect example, where people donate their time freely to protect the rights of those who find themselves in police custody and help to improve standards of custody care. "Our ICV scheme is entering an exciting period in its history with the recent opening of a state-of-the-art and centralised custody centre. "Our new cohort of volunteers will play a critical role in driving further improvements in our processes and procedures to ensure Durham not only delivers the very best quality of care to detainees but is held aloft as a beacon of good practice nationally. "This is an opportunity to provide a voice for people who may be vulnerable and underrepresented. "If you believe in fairness and equality and have a genuine interest in protecting the rights of vulnerable people, please consider joining our dedicated ICV team – your support is highly valued and appreciated." The ICVs will regularly visit the custody hub to speak with detainees, check that their rights are being upheld, and review the conditions of their detention. They will also examine custody records to ensure staff are meeting their responsibilities, with particular attention given to vulnerable or young detainees. Any concerns raised during visits are discussed with the Custody Sergeant and included in a report sent to the Office of the Police and Crime Commissioner (OPCC). The ICV scheme is part of the commissioner's commitment to increasing public trust in policing by maintaining high standards of care and transparency within police custody. Read more: Solved: Decades-old mystery of wooden bridge submerged in County Durham river Vacant County Durham building to be turned into takeaway after plans approved Meet the 80-year-old mountain rescue volunteer with 54 years of saving lives The new custody hub offers 24/7 healthcare from qualified medical staff, along with forensic examination rooms, an energy centre, and virtual court facilities. Volunteers must be at least 18 years old, live, work, or study in the Durham police area, and have been resident in the UK for at least three years before applying. More information about the role and details on how to apply can be found on the Durham Police and Crime Commissioner's website at
The Sun
03-06-2025
- Business
- The Sun
Wasco launches UAE fabrication yard, supporting rising modular infrastructure needs
KUALA LUMPUR: Wasco Energy, the energy services division of Bursa Malaysia-listed Wasco Berhad, has launched a new fabrication yard in the Jebel Ali Free Zone (JAFZA), Dubai, the United Arab Emirates (UAE). Wasco Energy chief executive officer Shan Karupiah said the new facility, covering 25,000 square metres, boosts Wasco's engineering and fabrication capabilities to support energy and industrial infrastructure projects in the Middle East and beyond. With an annual production capacity of 10,000 tonnes, the yard is equipped to produce process modules, Pre-Assembled Unit/Pre-Assembled Rack (PAU/PAR) units, gas compressor packages, substations and E-Houses for both onshore and offshore use. Shan said the facility, which is located near one of the world's busiest ports, allows Wasco to carry out high-volume modular projects more efficiently and quickly. 'This expansion is not just about scaling capacity; it's about positioning Wasco closer to our clients and the region's dynamic energy ecosystem. With this new UAE facility, we are better equipped to deliver high-quality, customised and modular solutions with speed, precision and engineering depth,' he said in a statement today. He said the UAE yard complements Wasco's existing fabrication hubs in Batam, Indonesia, and Telok Panglima Garang in Selangor, and pipe coating plants in Qatar, Malaysia, the United Kingdom and Tanzania - reinforcing the group's global infrastructure delivery network. Aligned with the UAE's In-Country Value (ICV) programme, the new yard also advances local industrial development by promoting domestic content and strengthening regional supply chains. 'Our expanding global footprint underscores Wasco's commitment to executional excellence. This strategic expansion enhances our ability to service both regional and global projects with tailored engineering solutions that address the complex demands of today's energy landscape,' he added. Wasco also extended its appreciation to DP World GCC chief operating officer (Parks & Zones) Abdulla Al Hashmi, JAFZA Sales vice president Ebtesam Alkaabi and JAFZA Sales director Saoud AlAwadhi for their support in establishing the facility and commitment to long-term collaboration. Wasco Energy, supported by over 600 in-house engineers worldwide, provides complete modular solutions—from Front-end Engineering Design (FEED) to fabrication and final delivery—using its broad technical expertise. The facility is built to international Health, Safety and Environment (HSE) standards, incorporating stringent safety protocols and a strong zero-incident culture, the statement added.
The Sun
03-06-2025
- Business
- The Sun
Wasco Opens New Fabrication Yard in Dubai's JAFZA
KUALA LUMPUR: Wasco Energy, the energy services division of Bursa Malaysia-listed Wasco Berhad, has launched a new fabrication yard in the Jebel Ali Free Zone (JAFZA), Dubai, the United Arab Emirates (UAE). Wasco Energy chief executive officer Shan Karupiah said the new facility, covering 25,000 square metres, boosts Wasco's engineering and fabrication capabilities to support energy and industrial infrastructure projects in the Middle East and beyond. With an annual production capacity of 10,000 tonnes, the yard is equipped to produce process modules, Pre-Assembled Unit/Pre-Assembled Rack (PAU/PAR) units, gas compressor packages, substations and E-Houses for both onshore and offshore use. Shan said the facility, which is located near one of the world's busiest ports, allows Wasco to carry out high-volume modular projects more efficiently and quickly. 'This expansion is not just about scaling capacity; it's about positioning Wasco closer to our clients and the region's dynamic energy ecosystem. With this new UAE facility, we are better equipped to deliver high-quality, customised and modular solutions with speed, precision and engineering depth,' he said in a statement today. He said the UAE yard complements Wasco's existing fabrication hubs in Batam, Indonesia, and Telok Panglima Garang in Selangor, and pipe coating plants in Qatar, Malaysia, the United Kingdom and Tanzania - reinforcing the group's global infrastructure delivery network. Aligned with the UAE's In-Country Value (ICV) programme, the new yard also advances local industrial development by promoting domestic content and strengthening regional supply chains. 'Our expanding global footprint underscores Wasco's commitment to executional excellence. This strategic expansion enhances our ability to service both regional and global projects with tailored engineering solutions that address the complex demands of today's energy landscape,' he added. Wasco also extended its appreciation to DP World GCC chief operating officer (Parks & Zones) Abdulla Al Hashmi, JAFZA Sales vice president Ebtesam Alkaabi and JAFZA Sales director Saoud AlAwadhi for their support in establishing the facility and commitment to long-term collaboration. Wasco Energy, supported by over 600 in-house engineers worldwide, provides complete modular solutions—from Front-end Engineering Design (FEED) to fabrication and final delivery—using its broad technical expertise. The facility is built to international Health, Safety and Environment (HSE) standards, incorporating stringent safety protocols and a strong zero-incident culture, the statement added.
