corporate compliance, (general discussion)
TRANSCRIPT
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CORPORATE COMPLIANCE
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Corporate Compliance
Definition: A corporate compliance program is a system which is designed to detect and prevent violations of law by the agents, employees, officers and directors of a business.
Clearly, a code-of-conduct is an important component of a compliance program and ethics remains the heart and soul of all corporate compliance programs.
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Understanding the Company
Identification of Applicable Laws
Evaluation of Laws
Assessment of Laws
Setting of Compliance Organisation Structure
IMPLEMENTATION OF COMPLIANCE SERVICES WITHCORPORATE COMPLIANCE MANAGEMENT
THE FIVE STEP PROCESS
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STEP I : UNDERSTANDING THE COMPANY
Company’s History & Background
Capital Structure & Evolution
Promoters & Group Companies
Management & Administration buildup
Financial Soundness & Debt Structure
Risk Management & Protection
Licenses & Approvals
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STEP II : IDENTIFICATION PROCESS
General Application of
Laws
Sectoral Application of
Laws
Industry / Segment
Application of Laws
Geographical Application of
Laws
On the basis of Number of Employees
Transaction Application of
Laws
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Corporate Laws
Taxation Laws
Securities Laws
GENERAL APPLICATION OF LAWS
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INDUSTRY/ SEGMENT WISE APPLICATION OF LAWS
Media And Entertainment
Infrastructure, Power And Telecom
IT Solutions
IT Enabled Services And BPO
Textiles
Tourism And Hotel Capital Market And Its Intermediaries
Engineering and Construction FMCG
Agriculture AndFood Processing
Capital Goods
Drugs, Pharma And Healthcare
Banking And NBFC
Financial Services
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STEP III – EVALUATION OF COMPLIANCE TIMINGS
Compliance Timings
One Time Fixed/Regular Event based
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Identify the gap
between
the present compliance system
and
the results of Evaluation Process
STEP IV - ASSESSMENT
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Establishing Controls & Standard Delegation of Responsibility Analysis & Assessment Compliance Reporting
STEP V : CREATION OF COMPLIANCE STRUCTURE
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Value Creation of Enterprise through Corporate Compliance
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Enhanced Trust and Confidence of all
Stakeholders
Employees
Investors Customers
Suppliers
Government and Regulators
Society
VALUE CREATION THROUGH CORPORATE COMPLIANCE
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Growth
Growing Revenues
Growing Profits
Growing Market Value
VALUE CREATION THROUGH CORPORATE COMPLIANCE
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CORPORATE VALUE WITHOUT CORPORATE COMPLIANCE
• Loss of Investors Confidence
• Difficulty in further raising of capital
• Investor Complaints
• Loss of reputation in National & International Markets
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DISCLOSURE & TRANSPARENCY
Compliance Compliance
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SECTORAL APPLICATION OF LAWS
Sector
Public Private
Service
Manufacturing
Trading
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Simplification: The Next Move
Developing Compliance Management Tools
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USE OF TECHNOLOGY
Compliance Organisation
StructureAlerts &
Notifications
Risk Mitigations
Performance Reporting
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RESEARCH & UPDATIONS
Regular visits to Authority’s website
Newspapers & Business News Channels
Subscriptions of Law websites
Newsletters & Magazines
Discussions e-Forms
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80%
20%
Filing forms & Applications
Registers & Returns
Checklists
Good Compliance
Risk Mitigation
Corporate Governance
Focus on Procedural Complianc
es
PRESENT FACE
Traditional Role
Strategic Role
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ADVANTAGES OF COMPLIANCE MANAGEMENT
Effective control tool for Top Level Management
Create awareness of status of Compliance based Risk
Centralized Control of Compliance Management
Strengthens areas of weakness
Central repository of documents
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Good Corporate Governance
Reduces Risk
Higher Profits
Higher Valuation
RESULT OF GOOD CORPORATE COMPLIANCE
MAKING YOUR COMPANY DIFFERENT & LEADING TOWARDS EXCELLENCE
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HAPPY COMPANY
HAPPY MANAGEMENT
HAPPY INVESTORS
HAPPYSUPPLIERS
HAPPY REGULATORS
HAPPYCUSTOMERS
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The Conclusion is ……….
Make Your Company GOOD GOVERNED COMPANY
Systematic
Compliant ValuedBE…..
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Thank You