- Ignorance of the law is not an excuse for poor compliance.
- Companies Act, 2013 has provisions for criminal proceedings and jail term for poor compliance.
- Cost of Poor Compliance has increased many fold in the last few years
- Manual tracking leads to missed & delayed compliances
- Compliance requirements change as many as 2,500 times in a year in India
- Board and Shareholders put a premium on well governed companies
Effective Compliance Management is critical to an organization’s sustenance and growth. However, compliance environment in India is complex and cumbersome with frequent changes. The number of registrations, returns, registers, challans, filings and other miscellaneous compliances for a mid-size organization can easily be in a few thousands a year. The traditional model of compliance management through manual tracking leads to an ad-hoc, people dependent and paper-based compliance program. This compromises transparency and accountability resulting in missed / incorrect compliances with heavy penalties.
ProBiz Advisor is a business & financial advisory firm promoted by qualified professionals having vast experience of managing diversified businesses. It is transforming the way Companies manage their compliance program. ProBiz Advisor customers have reduced their missed compliances by over 90% & penalties by 95%.
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We understand the increasingly complex tax, regulatory and commercial laws of the global economy. Our firm provide holistic guidance around strategic business decisions and offer support services that can increase efficiency and reduce the cost of some routine legal activities. To thrive in this world, you need access to legal advice that you can trust.