Secretarial audit and compliance management
Secretarial audit and compliance management are the two standard procedures followed for effective governance. Compliance management is integrated with the corporate system to avoid noncompliance, and a secretarial audit is performed regularly by an independent professional for better administration.
Secretarial audit is a means of ensuring compliance with a variety of laws, rules, regulations, and processes. It is essentially a technique to monitor compliance with the requirements of stated laws, performed by an independent professional to ensure the fulfilment of legal and procedural requirements. It is a valuable governance and risk management tool leading towards effective results.
Secretarial audit plays a vital role as:
- It aids in the detection of noncompliance and the implementation of corrective actions.
- It evaluates procedures and implements good corporate practices.
- It is a standalone procedure that adds value and improves operations.
- It aids in achieving goals by providing a productive approach to examining the effectiveness of risk management, control, and governance procedures.
- It gives management, regulators, and stakeholders the assurance they need about statutory compliance, good governance, and the presence of adequate systems and processes.
We have a proficient compliance team that possesses a high degree of technical expertise and professionalism. With over decades of experience, we have developed robust processes that are designed to handle large scale and diverse compliance requirements of our clients worldwide. Our firm is a trusted and leading compliance service provider to a variety of organizations, including startups and established institutions such as asset managers, hedge funds, private equity firms, wealth managers, corporate finance and broker dealers.
Our compliance professionals have extensive experience in dealing with incorporation, obtaining initial authorization or registration, and providing ongoing compliance services to help in navigating the dynamic regulatory landscape. Our secretarial compliance experts are proficient in assisting our clients in advancing through skilled compliance solutions.
Our experts support clients in achieving their objectives by implementing a systematic and disciplined approach for evaluating and improving the effectiveness of risk management, control, and governance. We ensure that organizations must adhere to secretarial compliance to add value and improve operations.
Our industry specialists provide unrivaled knowledge and insights to our clients, ensuring that our advice is tailored and relevant to individual needs.
The following are some of the important secretarial compliance services we offer to our clients:
- Obtaining registrations, certifications, and permits from the appropriate governmental or regulatory agencies.
- Drafting authority letters, power of attorneys, applications as required.
- Detection of noncompliance as well as the implementation of corrective actions.
- Adherence to good corporate practices.
- Compliance with the relevant laws.
- Corporate social responsibility related tasks and regulations (CSR).
Our experts assist clients in compliance management through the following services:
Internal auditing
As the name implies, it entails auditing internally. Effective internal audit service can make a significant difference in risk management and efficient operations. The goal of internal auditing is to assure that company’s policies and procedures are followed with accurate financial reporting and data collection is done timely and correctly. Internal audits also provide management with the tools to improve operational efficiency by identifying problems and fixing gaps before an external audit finds them.
Our experts can assist our clients in understanding their strategies and how to use them with an appropriate operational plan and process structure.
The objective of internal auditing is to figure out what is going on, what the risks are, and how well the controls are working. It is for the most efficient use of resources and the identification of any potentially harmful liabilities.
The benefits of internal audit are:
- Development and growth
- Increases transparency
- Aids in assessing hazards
Management audit
It is the process used for examining the management team’s competencies and ability to work together rather than individual executive performance.
Our management auditing services are customized to meet the needs of each client. Whether it is accomplishing strategic goals, solving operational issues, complying with regulatory norms, or managing reporting responsibilities, our professional team of auditors assists our clients in handling their concerns.
Tax audit
Tax audit is performed to ensure that taxation laws are followed duly and accuracy of the taxpayer’s income tax computation in the tax return is checked.
In order to comply with all tax compliance obligations, we support our clients through the process of preparing corporate and individual tax returns and all related preparation and subsequent works.
In addition to corporate income tax, trade tax, VAT or income tax returns, we also prepare separate and uniform determination of profits, dividend withholding tax returns and preliminary VAT returns while also handling electronic submission to the tax authorities.
Risks and obligations can be minimized by accomplishing tax audits accurately. Keeping a track of tax records through tax audit seems to be a challenging task. As a result, tax audit services are required to be handled properly. Our tax auditors could also negotiate with tax agencies to provide tax relief.
Statutory compliance audit
Statutory compliance audit is a risk mitigation approach for identifying and examining any regulatory compliance gaps.
A statutory audit is a legal examination of financial documents conducted by an independent third party to ensure accuracy and inclusiveness.
Our firm can assist clients in finalizing statutory audits, publish the audit report, and file the report with the tax department.
In the process of statutory auditing, the following stages are involved:
- Preparations for the audit
- Creating a rough draft of the schedule and plan
- The audit
- Verification of files and registers
- Physical verification of stock in trade by the auditors
- Presentation of the files
- Feedback and discussion
- Presentation of final audit report
Due diligence
Due diligence is an investigative process intended to provide a level of assurance about a potential investment and to mitigate risks such as hidden liabilities, poor development prospects, and exorbitant pricing claims for proposed investments, among other things. It is a tool to examine a corporate transaction before it happens.
Due diligence is the process of performing research and analysis before making a purchase, investment, or bank loan to determine the value of the subject of due diligence or to determine whether there are any potential issues.
We offer a confidential, objective, and unbiased viewpoint to our clients. We perform due diligence with the sole purpose of providing our clients with useful due diligence reports and business studies that constitute an essential part of their decision making and negotiating processes.
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