Historically, board of director and key managerial personnel have been perceived to focus primarily on value creation for shareholders, however with multilayered regulatory environment, complex business structures and changing technology scenario, the companies are mandated to focus on accountability and governance. Large financial frauds and scams in last decade has compelled the statutory authorities to make companies streamline compliance management processes and build underlying controls to mitigate risks.
With the advent of the Companies Act, 2013 and SEBI Listing Regulations, the significance of a robust compliance framework has been re-emphasized, also establishing increased responsibility on Key Managerial Personnel and Board of Directors to devise a proper system for ensuring compliance with the provisions of all applicable laws.
Key challenges/Problem Statement
How can we Help?
Key Elements of KPMG’s Compliance Framework:
Element 1 : Compliance Policy
Activities: Documentation of compliance standards with responsibility matrix across products and function
Element 2 : Compliance Organization Structure
Activities: Assist to prepare performance and reporting matrix reflecting organization structure. The structure would be as follows:
Element 3: Linkages to Key Committees
Activities: Assisting to frame terms of reference for Board / Operational Level Committees committee emphasizing of Governance and accountability.
Element 4 : Compliance Strategy and Charters
Activities: Formulate charters comprising compliance risk, roles/ responsibilities and assisting to develop strategy for establishing “zero tolerance” culture for non-compliance.
Element 5 : Compliance Obligation Registers
Element 6 : Compliance Testing Framework
Element 7 : Compliance Training & Certification
Our Key Differentiators:
1. Dedicated Centre of Excellence Team :
- Comprising of Lawyers, Company Secretaries, Chartered Accountants and Engineers having an average experience of 5 years and above.
2. Proven Technology : “Compliance Reporting Assessor” an automated compliance framework
- Implemented across 150+ companies with enhanced workflow, dashboards, and reports to ensure comprehensive coverage of entire compliance process.
3. Comprehensive Compliance Database :
- Database of compliances for more than 30 sectors, 4500 statutes and 50,000 compliances
4. Operational Efficiency :
- Extended bandwidth to cover end to end compliance framework enhancement across locations – domestically and overseas.
5. Subject Matter expertise :
- Value addition in terms of profound understanding of business operations with allied regulations and aligning the expertise to accomplish the end result.
|Request for a demo|