UAE Ministry of Economy Review
Approved Third-Party Audits for Gold Refineries
under the Due Diligence Regulations
Approved Third-Party Audits for Gold Refineries under the Due Diligence Regulations
Gold refineries in the UAE must undergo a mandatory annual review under the UAE Ministry of Economy’s (MoE) Due Diligence Regulations for Responsible Sourcing of Gold.
This third-party audit, conducted only by MoE-approved reviewers, confirms whether a refinery has implemented the five-step OECD due diligence framework and complies with UAE regulatory expectations.
The review includes:
- A detailed Review Plan covering scope, sites, staff, and documentation
- Onsite walkthroughs and staff interviews
- KYC, chain of custody, and supplier due diligence checks
- Identification of red flags and high-risk suppliers
- Issuance of a compliance rating with follow-up where required
As an MoE-approved Reviewer, AKW Consultants conducts these audits with full independence, strict confidentiality, and in line with OECD, ISAE 3000, and UAE Good Delivery protocols.
Five Common Compliance Challenges
01
Missed Regulatory Deadlines
Failure to appoint a Ministry-approved Reviewer on time.
02
Conflict of Interest
Using an auditor with business ties invalidates the review.
03
Incomplete Documentation
Missing transaction logs, supplier files, or training records.
04
Poor Onsite Preparation
Unavailable staff or files during walkthroughs result in adverse findings.
05
Weak Enhanced Due Diligence
High-risk suppliers not assessed or documented properly.
HOW WE HELP
The AKW Conducts UAE MoE Reviews
Pre-Review Planning
- Establish Review Plan (scope, departments, timelines, costs)
- Map supply chain actors and risk areas
- Conduct readiness checks to flag documentation or governance gaps
Onsite Execution
- Opening meetings with confidentiality agreements
- Interviews with compliance, sourcing, and logistics staff
- Review of KYC, risk files, training logs, and red flag records
- Walkthrough of facilities and operational inspections
Evidence & Compliance Assessment
- Test compliance against OECD-aligned 5-step framework
- Assess escalation processes, EDD, and traceability controls
- Review supplier communications and governance mechanisms
Reporting & Ratings
- Issue compliance rating under MoE’s four-tier system
- Deliver:
- Management Report
- Reviewer’s Assurance Report
- Provide Corrective Action Plans where required
- Conduct Follow-Up Reviews if mandated
Compliance Ratings Under MoE Protocol
Fully
Compliant
Compliant – Low Risk
Deviations
Not Compliant – Medium
Risk Deviations
Not Compliant – High Risk Deviations (mandatory follow-up within 90 days, under ISAE 3000 Reasonable Assurance)
Why Refineries Choose AKW
MoE-Approved Reviewer
for gold refinery audits
Global presence with field audits across
Africa, Latin America, and Asia
Aligned with OECD, UAE MoE Protocols,
and ISAE 3000
Proven independence
and strict audit ethics
Expertise in responsible sourcing,
risk governance, and due diligence
Multidisciplinary team of auditors, compliance
experts, ESG consultants, and legal specialists
Ready for Your MoE Gold Audit?
If you are a UAE gold refinery preparing for your mandatory Ministry of Economy Review, AKW ensures your audit is independent, regulator-approved, and fully compliant.