Proind is helping organizations to better understand, manage, track and control their compliances and statutory risks while discovering new opportunities to create value. With our team’s expertise in legal and legislative research; we can work with you to develop pan India compliance checklist, as well as track new and existing developments in laws that matter to your business. With the government focusing more on governance, there is a huge impetus on the organizations to follow the rules and mitigate the risk. Our service forms the basic part of the governance and risk compliances while providing the risk associated with any non-compliance.
As a part of a corporate governance strategy, the organizations – large or medium or even small, need to establish a program for compliance management framework. This includes, formation of Compliance Structure; identification & review of legal & statutory obligations; understanding requirement & its impact and establishing controls & prevention strategy; awareness & training of stakeholder; execution of strategy & recording of evidences; monitoring & reviewing the performance; reporting to internal & external stakeholder; and most importantly change management pertaining to requirement and related controls.
Proind helps its customers in establishing a full compliance management framework. It starts with examining an organization’s existing governance risk compliance process for assessing prerequisite for implementation of compliance risk management software.
These reviews are in accordance with legal & statutory requirements; regulations; and contractual agreements. Compliance reviews help in identification of threat areas that present the possibility of fines and litigation, thus involve management (controller) and functional teams (doers).
Due to consistent effort by the government in India, to ease of doing business, there is an increase in the number of changes in regulations. Further, the requirement for operational transparency is forcing companies to adopt a consolidated compliance management approach. ProInd helps its customers with establishing a comprehensive compliance management programme through which they can understand requirements under legislation/Acts that are applicable to their business and operations.
Proind provides its clients with Governance Risk Management and Compliance software that streamlines the processes of risk management, conforming to regulations and establishing enterprise policies, thus reducing costs and increasing opportunities for process improvement.
In accordance with the legal and statutory compliance requirements for an organization, Proind’s team provides comprehensive services and solutions. Following key services are included for statutory and regulatory risk management for the compliance management program. Proind recommends its clients to establish a two-tier structure for compliance framework in the organization. Governance, Risk & Compliance (GRC) team for managing and controlling compliances reporting to Audit/Risk Committee. Cross-functional expert team (CFT) of experts on different category laws from different departments & functions, to manage and comply with statutory and regulatory requirements. Proind’s legal experts helps its client in fully understand the legal & regulatory requirements that apply to their respective organization & type of operations; and help in creating legal register, which contains the following information such as title of the applicable act and official source, name of authority controlling particular regulation, a brief description of how this legal/regulatory act applies to organization, and Identification of necessary authorisations, licenses, consents and/or related records that needs to be maintained.
Proind’s legal team also assesses the risk and related control pertaining to identified legal and statutory requirements. In this team also identify risk ratings taking account of the financial, operational and penal impact on the company and its directors.
The training to the stakeholders will be designed and provided considering key corporate and regulatory compliance objectives. Functional teams are made to understand legal corporate policy expectations through these comprehensive training and awareness sessions.
Proind’s proprietary Enterprise Risk Management Software would establish mechanisms that will alert company’s management of non-compliance and risks that will threaten the achievement of compliance goals.
Proind’s legal team tracks any update, amendment, change or addition to the statutory/regulatory requirement or event. Client’s team is formally informed about all legal & regulatory changes and its impact on the organization’s business and/or operations. The critical changes are immediately communicated to the client’s functional teams for assessment and appropriate action.