You are appointed as Compliance Officer in a listed company. An Independent Director asks you to describe the scope of Corporate Compliance. Prepare a brief note.

CS Professional · Secretarial Audit, Compliance Management and Due Diligence · PYQS · June 2019
You are appointed as Compliance Officer in a listed company. An Independent Director asks you to describe the scope of Corporate Compliance. Prepare a brief note.

Answer & Explanation:

From: Compliance officer Ltd. To: Mr. Independent Director Sub: Scope of Corporate Compliance Dear Sir, As desired, the note on the Corporate Compliance is as under: Corporate compliances broadly include compliance of Corporate & Economic Laws, Securities Laws, Commercial Laws including Intellectual Property Rights Laws, Labour Laws, Tax Laws, Cyber Laws which is also known as the Information Technology Law, Pollution Control Laws, Industry Specified laws and all other laws affecting the company concerned depending upon the type of industry/activity. The broad coverage of laws includes the compliances of the following laws: Companies Act, 2013 and the Rules and Regulations framed thereunder, MCA-21 requirements and procedures Secretarial Standards/Accounting Standards/Cost Accounting Standards issued by ICSI/ICAI/ICMAI, respectively Foreign Exchange Management Act, 1999 and the various Notifications, Rules and Regulations framed thereunder Competition Act, 2002 SEBI Act, 1992 Securities (Contracts) Regulation Act, 1956 and rules made thereunder SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015 Depositories Act, 1996 Intellectual Property Rights Laws Income Tax Act, 1961 Customs Act, 1962 GST Laws Labour Laws Environment Laws Industry Specific Laws Local Laws include Municipal and Civic Administration Laws, Shops and Establishments etc. Regards, Compliance Officer Ltd.

Topics: Corporate Compliance

Open in Interactive Practice Hub · Full Practice Hub · Chapter Weightage · More in this subject

Related Questions in this Topic