Mazars’ GRIC Singapore’s appointment to serve its first financial institution client

On 09 March 2015, DBS Bank Ltd (“DBS Bank” or the “Bank”) has appointed Governance Risk and Internal Control (“GRIC”) team of Singapore office to perform compliance audits on the Bank’s clients for 2 of its products; namely, Accounts Receivables Facility and Block Discounting.

Established since 1968, DBS Bank is the largest bank in South East Asia by assets and among the larger banks in Asia. It has market-dominant positions in consumer banking, treasury and markets, asset management, securities brokerage, equity and debt fund-raising in Singapore and Hong Kong. With operations spanning in 17 markets, the bank has a regional network of more than 250 branches and over 1,100 ATMs across 50 cities.

With the appointment by DBS Bank, GRIC Singapore will conduct the said audits throughout the year as required by the Bank.

The proposal was led by Allan WW Wong who will also be the appointed engagement Director. Mak Chung Yee, the Head of GRIC, will be the Quality Assurance Director. The GRIC team members, Nurul Nadiah and Aimee Chen, have also contributed in the well prepared presentation materials to the deciding panelist at DBS Bank.

This new win is an affirmation of confidence that DBS Bank have over the GRIC Singapore’s review approach, methodologies and the team members’ profile. With the newly added credential to the GRIC’s portfolio, this will certainly hope to be a door opener to many other future opportunities in the financial institutions arena.