Compliance is an indispensable part of a business. Legal procedures begin from a company's inception and continue throughout its life cycle. The motto behind compliance measure is to ensure that a company runs fairly in accordance with the prescribed laws. It upkeeps the company's trust among its shareholders and the market. Failure to comply with the relevant acts and regulations can cause heavy penalties and prosecution and tarnish the organisation's image.
Secretarial compliance refers to abiding by the rules and regulations devised by the legislative authorities. The Company Act mandates every registered company to maintain certain records that must be accessible to the company's stakeholders. It also requires the firm to conduct regular meetings with the board of directors, shareholders, committee members, etc. and keep the records of minutes of discussions in the register. Every company has to file the annual accounts with the Registrar of Companies along with a report containing the list of various activities undertaken by the firm during the financial year. It must be certified by a chartered accountant or the company secretary.
A company's secretary is the organisation's representative on legal documents. It is their responsibility to ensure that the directors follow the laws, the required reports are formulated in a timely manner, records are maintained, accounts are kept up to date, and relevant information is communicated to shareholders. A secretarial audit has been recently introduced to check if the company is functioning as per regulations like the Company act 2013, SEBI, FEMA, Depositor's Act, SCRA and other industry-specific laws. It aids the stakeholders in assessing their partner company's compliance finesse and assists the management of an organisation in improving the control environment and minimising risks. The Secretarial Compliance report covers the rules mentioned in the circular of SEBI only.
A company's management stays engaged in strategic planning, operations, expansion and other core tasks required in managing and scaling the business. Compliance is usually the last thing the administration will find time to consider. Besides, secretarial compliance demands excessive knowledge of various legal acts and regulations which keep evolving. Outsourcing compliance matters to experts is beneficial in improving adherence to norms, safeguarding the organisation's interests and saving time to focus on other vital aspects of the business.
Poshway holds 15+ years of experience in the finance sector. Throughout our journey, we have worked with a myriad of industries and delivered high-quality solutions to meet critical business needs. Our team comprises qualified financial specialists with deep knowledge and deft skills in dealing with financial matters. We provide full-length compliance services, including incorporation procedures, maintaining registers and accounts, RoC filings, conducting board meetings, risk reduction and advisory.
Our objective is to assist companies to adhere to compliance norms, reduce risks, and function efficiently. Our experts stay attuned to the changes in laws and are proficient in conducting compliance assessments according to various rules and norms like The Company Act 2013, SEBI, FEMA, etc. We furnish the required documents during secretarial audits like statutory registers, declarations' notices, agenda reports, attendance registers, etc.
Compliance is a delicate process necessary for a company's smooth functioning. It is the cornerstone of the secretarial audit conducted by the government authorities. In case of discrepancies, companies can be charged with heavy penalties and can even risk elimination from the list of registered organisations. Poshway can handle compliance matters to align your venture with laws and regulations by leveraging advanced tools and unmatched expertise. Our full-fledged compliance services and value-adding solutions ensure that you scale steadily in the market without any hindrances and meet your objectives efficiently.
Struggling with corporate secretarial compliance? Our experienced team ensures regulatory adherence, handles filings, record-keeping, and facilitates board processes, freeing you to focus on core business operations with confidence.
