{"id":1952,"date":"2025-09-03T11:18:59","date_gmt":"2025-09-03T11:18:59","guid":{"rendered":"https:\/\/uhy.pt\/services-uhy-portugal\/governance-risk-compliance\/"},"modified":"2025-10-30T11:43:03","modified_gmt":"2025-10-30T11:43:03","slug":"governance-risk-compliance","status":"publish","type":"page","link":"https:\/\/uhy.pt\/en\/services-uhy-portugal\/governance-risk-compliance\/","title":{"rendered":"Governance Risk & Compliance"},"content":{"rendered":"\t\t
\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t

Governance Risk & Compliance<\/h1>\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

The UHY team has accumulated most of its experience providing audit and consulting services to entities regulated by the Bank of Portugal, CMVM, and ASF, but we also develop projects for companies in other sectors.<\/p>

\u00a0<\/p>

The experience accumulated over recent years allows us to develop excellent projects tailored to our clients’ needs. In addition to the knowledge accumulated by the UHY team, we have specialists in the field of Information Systems available to support us in audit and consulting projects, as well as the experience and support of our international network.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

\n\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t<\/path><\/svg>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\tContact us<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t<\/path><\/svg>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\tOther services<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
\n\t\t
\n\t\t
\n\t\t\t\t
\n\t\t\t\t\t

Governance Risk & Compliance Services<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t\t

Internal control<\/h3>\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t\t

NOTICE NO. 3\/2020 OF THE BANK OF PORTUGAL<\/h3>\t\t\t\t<\/div>\n\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

Independent assessments (external audits) provided for in Notice No. 3\/2020 of the Bank of Portugal:<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t\t\t\t\t\t
    \n
  1. Article 3, No. 2, Notice No. 3\/2020 of the Bank of Portugal<\/em><\/strong> – The Governing Body promotes periodic and independent assessments, to be carried out by an entity external to the Institution, regarding the conduct and values \u200b\u200bof the Institution, which also affect the conduct and values \u200b\u200bof the Governing Body itself and its committees<\/li>\n
  2. Article 3, No. 2, Notice No. 3\/2020 of the Bank of Portugal<\/em><\/strong> – On its own initiative, the Supervisory Body of the Institution also promotes periodic and independent assessments, to be carried out by an entity external to the Institution, regarding the conduct and values \u200b\u200bof the Body itself, which may be developed in conjunction with the assessments referred to in the previous paragraph<\/li>\n
  3. Article 29, No. 7, Notice No. 3\/2020 of the Bank of Portugal<\/em><\/strong> – The Management Body ensures that the adequacy of the processes for obtaining, producing, and processing information implemented in the Institution, as well as the control mechanisms referred to in No. 5, are subject to periodic independent assessments, to be carried out by an entity external to the Institution<\/li>\n
  4. Article 30, No. 4, Notice No. 3\/2020 of the Bank of Portugal<\/em><\/strong> – The Management Body ensures that the compliance of the information flows established in the Institution with the provisions of this article is subject to periodic independent assessments, to be carried out by an entity external to the Institution<\/li>\n
  5. Article 32, No. 8, Notice No. 3\/2020 of the Bank of Portugal<\/em><\/strong> – The adequacy and effectiveness of the internal audit function are subject to independent assessments, to be carried out periodically, at least every five years, by an entity external to the Institution<\/li>\n<\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
    \n\t\t\t\t
    \n\t\t\t\t\t\t\t\t\t

    Issuance of a supporting report supporting the opinion of the Supervisory Body described in Article 56, paragraph 1, Notice no. 3\/2020 of the BdP, which includes:<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

    \n\t\t\t\t\t\t\t\t\t
      \n
    1. A clear, detailed, and well-founded opinion, expressed positively, on the adequacy and effectiveness of the Institution’s organizational culture and governance and internal control systems, within the scope of the responsibilities assigned by law to the Supervisory Body, which considers, at the reference date, in particular, the current or potential impacts of the deficiencies that remain open.<\/li>\n
    2. Assessment of the status of implementation of the measures defined in the reference period to correct the deficiencies detected, including deficiencies in the internal financial control system and the accounting system reported by the Statutory Auditor, pursuant to Article 11.2(j) of Regulation (EU) No. 537\/2014 or within the scope of other activities carried out by the latter, or identified by other entities external to the Institution, including supervisory authorities<\/li>\n
    3. Opinion on the quality of performance and adequate independence of internal control functions, including outsourced operational tasks, pursuant to Article 36<\/li>\n
    4. Statement on the reliability of prudential and financial reporting processes, including those carried out under Commission Implementing Regulation (EU) No. 680\/2014 of April 16, 2014, during the reporting period<\/li>\n
    5. Statement on the reliability of the processes for preparing information disclosed to the public by the Institution under applicable laws and regulations, including financial and prudential information<\/li>\n
    6. Statement on adequate compliance by the Institution during the reporting period reference, of all duties of disclosure to the public, which result from applicable legislation and regulations and which respect the matters provided for in this Notice.<\/li>\n<\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
      \n\t\t\t\t
      \n\t\t\t\t\t

      Governance Risk & Compliance Services<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
      \n\t\t\t\t\t

      Other internal control projects<\/h3>\t\t\t\t<\/div>\n\t\t\t\t
      \n\t\t\t\t\t\t\t\t\t

      \u00b7 Outsourcing Internal Audit Function Responsibilities<\/p>


      <\/p>\n

      \u00b7 Developing and supporting the implementation of Internal Audit Policies, Manuals, and Regulations<\/p>


      <\/p>\n

      \u00b7 Defining the Internal Audit Plan<\/p>


      <\/p>\n

      \u00b7 Executing Internal Audit Actions<\/p>


      <\/p>\n

      \u00b7 Following up on Internal Audit Recommendations<\/p>


      <\/p>\n

      \u00b7 Preparing Internal Audit Reports<\/p>


      <\/p>\n

      \u00b7 Reviewing the Internal Control System (Specific Areas)<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

      \n\t\t\t\t
      \n\t\t\t\t\t

      Governance Risk & Compliance Services<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
      \n\t\t\t\t\t

      Projects within the scope of compliance functions<\/h3>\t\t\t\t<\/div>\n\t\t\t\t
      \n\t\t\t\t\t\t\t\t\t

      \u00b7 Outsourcing Compliance Function Responsibilities<\/p>

      \u00a0<\/p>

      \u00b7 Developing and supporting the implementation of Compliance Policies and Manuals<\/p>

      \u00a0<\/p>

      \u00b7 Defining the Compliance Function Activity Plan<\/p>

      \u00a0<\/p>

      \u00b7 Gap analysis to identify obligations and assess exposure to regulatory non-compliance risks<\/p>

      \u00a0<\/p>

      \u00b7 Developing the Company’s regulatory responsibilities checklist<\/p>

      \u00a0<\/p>

      \u00b7 Supporting the implementation of the action plan for identified deficiencies within the Compliance area<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

      \n\t\t\t\t
      \n\t\t\t\t\t

      Governance Risk & Compliance Services<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
      \n\t\t\t\t\t

      Prevention of money laundering and terrorist financing<\/h3>\t\t\t\t<\/div>\n\t\t\t\t
      \n\t\t\t\t\t\t\t\t\t

      \u00b7 Tests to support the preparation of the Supervisory Body’s Opinion for the issuance of the annual Money Laundering and Terrorism Financing Prevention Report<\/p>

      \u00a0<\/p>

      \u00b7 Effectiveness Tests<\/p>

      \u00a0<\/p>

      \u00b7 Tests to support the issuance of the Money Laundering and Terrorism Financing Prevention Report for entities supervised by the CMVM<\/p>

      \u00a0<\/p>

      \u00b7 Effectiveness tests pursuant to Article 5 of CMVM Regulation No. 2\/2020<\/p>

      \u00a0<\/p>

      \u00b7 Assessment of Compliance of Internal Manuals and Policies with the legal provisions established by Law No. 83\/2017 and CMVM Regulation No. 2\/2020<\/p>

      \u00a0<\/p>

      \u00b7 Audit of the implementation of recommendations resulting from special audits by the Bank of Portugal (Specific Determinations and Supervisory Measures, for example)<\/p>

      \u00a0<\/p>

      \u00b7 Support for the implementation of the action plan for identified deficiencies within the scope of the PBCFT<\/p>

      \u00a0<\/p>

      \u00b7 Creation and implementation of PBCFT Policies and Manuals<\/p>

      \u00a0<\/p>

      \u00b7 Assessment of the Risk Management Model for Money\u00a0Laundering and Terrorism Financing Prevention BCFT regarding the adequacy and effectiveness of the Internal Control System in its ability to comply with the Preventive Duties described in the applicable legislation, for example KYC analysis and review of suspicious transactions<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

      \n\t\t\t\t
      \n\t\t\t\t\t

      Governance Risk & Compliance Services<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
      \n\t\t\t\t\t

      Management risk<\/h3>\t\t\t\t<\/div>\n\t\t\t\t
      \n\t\t\t\t\t\t\t\t\t

      \u00b7 Outsourcing Risk Function Responsibilities<\/p>

      \u00a0<\/p>

      \u00b7 Development and support in the implementation of Policies and Manuals related to the Risk Management Function<\/p>

      \u00a0<\/p>

      \u00b7 Definition of the Risk Function Activity Plan<\/p>

      \u00a0<\/p>

      \u00b7 Comprehensive analysis of internal and external risks, including their identification, analysis, assessment, mitigation, monitoring, and reporting<\/p>

      \u00a0<\/p>

      \u00b7 Development of the risk matrix and development of risk management strategies<\/p>

      \u00a0<\/p>

      \u00b7 Review of the governance model and Internal Control System<\/p>

      \u00a0<\/p>

      \u00b7 Implementation of the GRC model in accordance with applicable legislation and best practices<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\n\t\t

      \n\t\t\t\t
      \n\t\t\t\t\t\t\t
      \n\t\t\t
      \n\t\t\t<\/path><\/svg>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t
      \n\t\t\t\t\t

      Governance Risk & Compliance Services<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
      \n\t\t\t\t\t

      Request
      GRC Proposal<\/h3>\t\t\t\t<\/div>\n\t\t\t\t
      \n\t\t\t\t\t\t\t\t\t

      Contact us and receive a proposal tailored to your needs. Our team is ready to present effective, results-oriented solutions.<\/p>

      \u00a0<\/p>

      You can quickly and easily obtain a customized solution tailored to your needs.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

      \n\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
      \n\t\t
      \n\t\t\t\t
      \n\t\t\t\t\t

      UHY Expertise in Governance Risk & Compliance<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
      \n\t\t\t\t\t

      Our team<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
      \n\t\t\t\t
      \n\t\t\t\t\t\t\t\t\t

      Our professionals combine technical knowledge, international experience, and local expertise. More than consultants, they are partners dedicated to creating solutions that generate real impact for each client.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\n\t\t\t\t

      \n\t\t\t\t\t\t\t
      \n\t\t\t\n\t\t\t<\/path><\/svg>\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t
      \n\t\t\n\t\t\t\t
      \n\t\t\t\t\t\t\t
      \n\t\t\t
      \n\t\t\t<\/path><\/svg>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t
      \n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Paulo\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t
      \n\t\t\t\t\t

      Paulo Andr\u00e9<\/h3>\t\t\t\t<\/div>\n\t\t\t\t
      \n\t\t\t\t\t

      Managing Partner<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t\n\t\t\t\t
      \n\t\t\t\t\t\t\t
      \n\t\t\t
      \n\t\t\t<\/path><\/svg>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t
      \n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Francisco\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t
      \n\t\t\t\t\t

      Francisco Lopes<\/h3>\t\t\t\t<\/div>\n\t\t\t\t
      \n\t\t\t\t\t

      Supervisor<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t
      \n\t\t\t\t
      \n\t\t\t\t\t

      Governance Risk & Compliance Insights<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
      \n\t\t\t\t\t

      Most recent articles about Governance Risk & Compliance<\/h3>\t\t\t\t<\/div>\n\t\t\t\t
      \n\t\t\t\t
      \n\t\t\t\t\t\t\t
      \n\t\t